Bank reconciliation with bulk payments

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  • Question
  • Updated 2 years ago
Until recently, the first time payments got into our system was when we imported and reconciled our bank transactions. Now we're trialing bulk payments, and the payment is posted directly in Reckon One. When we later import the bank transactions it seems there is double counting - an entry for each of the payments already in Reckon plus a single transaction in the bank feed representing the bulk file. In the bank rec screen, it talks about "matching" the entries in Reckon with those in the bank feed, but the "match" radio button is greyed out for the bank feed transaction (presumably because it doesn't recognise a many-to-one match). I guess I could just confirm that the bank feed entry matches the sum of what's in Reckon, then delete the entry but that feels sloppy.

Am I misunderstanding something and/or is there a better way of doing this?

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Marc H

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Posted 2 years ago

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Michael Corrigan

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Delete the bank entry.  The same thing happens to wages where you use the bank to pay the wages and use Reckon One to generate the pay run.  I just check the bank balance via using the bank reconciliation process, but have never had an issue with the bank transaction not equally the bulk pay run