Fast Coding Reconciliations

TubeAir25
TubeAir25 Member Posts: 37 Reckoner Reckoner
in Accounts Hosted

Hi,

I am new to the Fast Coding World. I have matched and completed my Fast Coding transactions for October. What happens next? Am i correct to say that i have now reconciled for the month of October? Will this then appear in my accounts hosted file to show its been reconciled?

Answers

  • klaura
    klaura Reckon Staff Posts: 484 Reckon Staff Reckon Staff
    edited November 24

    Hi @TubeAir25,

    I am glad you've processed and confirmed your transactions in Fastcoding with ease. You're pretty much there!

    You still need to reconcile your account in Hosted to make sure that the balance in your bank statement matches the balance you have in Reckon Hosted. at the end of the period.

    I hope it helps.

    Karren.png
  • TubeAir25
    TubeAir25 Member Posts: 37 Reckoner Reckoner

    Hi Karren,

    that does help, thank you. Although i am confused as to why i need to use the fast coding at all? I was under the assumption i could do the reconciling through the fast coding? Could you please shed on some light as to why i need fast coding? If i still need to manually reconcile through hosted then i don't need the fast coding?

  • klaura
    klaura Reckon Staff Posts: 484 Reckon Staff Reckon Staff

    Hi @TubeAir25,

    Fastcoding pulls through your bank transactions to Reckon via Fast coding. This will then allow you to assign, match or allocate these transactions to your accounts. It's like sorting each transaction to their respective folders.

    While bank reconciliation it to make sure that the transactions and balances in you reckon accounts records match up with your bank statement.

    Karren.png
  • Kris_Williams
    Kris_Williams Member Posts: 4,265 Reckon Hall of Famer Reckon Hall of Famer

    You don’t have to use fast coding, I’ve been using Reckon for over 30 years and prefer to do a manual bank rec, that way I’m in control.

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