Bank Feed Matching

Tony

Where an invoice has been paid & the amount is shown in Allocated Bank Transactions as unreconciled why can't I do an Allocated Match with an identical amount shown in New Bank Transactions that has been downloaded in Bank Feed.

Tony

John G

Hi Tony,

Welcome to the Reckon Community.

Matching is done in the New Tab and you should see a yellow box below the transaction and an offer for a match.  



Just click on Reconcile to match it.  


In the Allocated Tab before matching you'll see the entry with a Reconcile button alongside



If you click the Reconcile button here, it will not affect the offer in the New Tab.

So its best to accept the match on the New Tab and the entry in the Allocated tab will change to Reconciled.





Hope this helps,

regards,
John.

Tony

Thanks John. I know that is what should happen but I have entries in the New Tab that don't have the Yellow offer of a match even though there is a Match in the Allocated Section showing as Unreconciled.

Scott

Hi Tony,

The matching process uses the date & amount information of the new/imported transactions to check for matches against the allocated transactions (receipts, payments, transfers & journals) for the selected bank account.

Reckon One first checks for a match on the same date. If no match is found, Reckon One then checks 1 day either side of the transaction date.

Example:

The New tab contains the following transaction

Date: 01/07/2015

Amount: $50.00 (money in)

 

1. Reckon One checks for a match on the 01/07/2015 for $50.00 (money in)

2. If no matches are found, Reckon One checks for a match on the 30/06/2015 for $50.00 (money in)

3. If no matches are found, Reckon One checks for a match on the 02/07/2015 for $50.00 (money in)

 

In the scenario where a match is found & the allocated (matched) transaction is dated either the day before or the day after the new/imported transaction, if the user accepts the match, the allocated transaction retains its date. 

In the scenario where a new/imported transaction has multiple matches for a single date, the first match will be used.

In the scenario where a new/imported transaction is dated 2 or more days before the applicable allocated transaction or 2 or more days after the applicable allocated transaction, no match is detected.

More advanced matching & searching functionality will be added to the application at a later date that will allow you to manually search & choose a specific match.

So regarding your current situation, does the transaction in your book fall inside the 3 day matching period (i.e. the date before, the same date or the date after)? If it doesn't then a simple work around would be to edit/update the allocated transaction date to fall inside this 3 day matching period to trigger a match.

Regards,

Scott.

Tony

Thanks Scott. Yes, that has solved some of my problems but I also have an issue where 2 or more transactions in the Allocated Bank Transactions, when added together,  match one deposit amount in the New/imported  Bank transactions. Is it possible to match them.

Scott

It is not possible to match 1 new/imported transaction against 2 allocated transactions. I'll pass this feedback onto the Reckon One team as a feature enhancement request.  

This now leaves you with this 1 new/imported transaction sitting in your bank feed.

a) you can't match it due to no match detection

b) you can't delete it as there is no delete option for transactions in the 'New' tab

c) the 'Ignore' option will only hide temporarily until the next time you visit the bank feed

d) you can't action/allocate it as you've already accounted for it with the multiple split transactions that you have already entered

e) even if you were to action/allocate it to move it from the 'New' tab to the 'Allocated' tab & then delete it via the allocated tab. Once you delete it from the 'Allocated' tab it will return/reappear back into the 'New' tab

 

The Reckon One team will be implementing functionality in a future update that will allow you to remove/delete/permanently ignore transactions from the 'New' tab. However for now...

The 'General settings' screen in your book has an option 'BankData retrieve last X days'. By default I think this is set to 60 days. So this particular transaction will show in your bank feed until it passes through the retrieval period set for your book. 

The next release/update of the application will have a default sort order change for transactions in the 'New' tab. Currently the transactions in the 'New' tab default to showing in date ascending order & this will change to date descending order. So after this change, this particular transaction will show at the bottom of your bank feed vs the top which it's currently doing.

 

Out of curiosity what is the reason behind splitting the bankfeed transaction into multiple transactions in your book? Is it a case where the bankfeed transaction relates to multiple contacts/invoices/bills or a bank transfer that uses more than two accounts (i.e. 2 banks & 1 expense account)?

  

Regards,

Scott.

Tony

Thanks again Scott. This resolved some of our problems. If a client paid us for multiple invoices we were incorrectly entering them as separate payments. We still have an issue where we bank a number of cheques for different clients on the one deposit & thus we have multiple transactions in our book but only one amount in the Bank Feed.

Scott

Yes if you are receiving a deposit from a customer that covers multiple invoices or paying a supplier for multiple bills, Reckon One will allow you to do this in a single receipt/payment transaction.

Regarding the scenario where you have one deposit that relates to multiple contacts, Reckon One doesn't currently allow you to do this using a single receipt as you can only specify one contact in the receipt. I'll pass this feedback onto the Reckon One team as a feature enhancement request for both receipts & payments.  

If your multi-contact deposit isn't associated to any invoices (the application doesn't yet allow journals to be linked to invoices) then you could enter this deposit as a journal transaction. Journals allow you to use multiple contacts. The journal would show as a single transaction against your bank account in Reckon One which can then be matched against the bank feed transaction.


Regards,
Scott.

Scott

Hi Tony,

Just an update regarding this thread. Today's Reckon One update (24/03/16) includes an enhancement to the banking area. You can now delete imported bank transactions which haven’t yet been allocated or matched.

To delete an imported transaction, view the New tab for the applicable bank account, hover the mouse cursor over the transaction that you want to delete & click the X icon located in the right section of the transaction.



Regards,
Scott.