Matching Transactions in Online Banking

Jody Brady
Jody Brady Member Posts: 1
edited August 2019 in Accounts Hosted
When using Reckon Hosted and trying to match transactions - do you have to finish matching ALL transactions in the window before leaving that wizard? 
If I leave before matching ALL (and I've tried clicking done AND cancel) when I come back the top register shows lightning bolts next to what I matched, but they appear in the bottom register as well, as unmatched though.  So then I'm forced to start again, but I have to manually unclick each lightning bolt in the top section to remove it from being 'matched' first.  Am I missing something?  Do you have to match the whole statement before you leave? Because I am in the process of starting up on Reckon Hosted I am still trying to input rules etc (which seem to be a whole other issue) but I can't set them up whilst I am in the Match Transactions window.  So I close it to set up my new rule and then I'm back to square one! I am hoping I am missing something because its becoming VERY time consuming!

Then with the Rules - I am with westpac and the PAYEE that appears always begins with the transaction type, so by the time it is imported into Reckon, theres not much room for anything else.  So what I'm getting is WITHDRAWAL ONLINE [unique#] PYMT [first letter of payee] and thats it.  The figures are always changing so I can only go off the payee, but if Reckon is only matching to that Payee line, I'm not going to have a hope of ever getting it to match.  Is there a workaround to this?

Lastly, am I correct in thinking once you have imported bank data feed and deleted it, it will never import it again?  If so, do you just have to import it manually?

Would really appreciate any advice, thanks :) 


Comments

  • Sara - Balancing Numbers
    Sara - Balancing Numbers Member Posts: 75 ✭✭
    edited August 2019
    Following


  • Reckon FAQs
    Reckon FAQs Reckon Staff Posts: 357 Reckon Staff
    edited June 2017
    Hello Jody,

    Welcome to the Reckon Community.

    No you do not need to complete all transactions when matching/adding downloaded transactions into Reckon Accounts Hosted.  Just click on Done and the matched and added transactions will be removed from the list, leaving just the unallocated transactions.  

    If you click on Cancel, then the matching/adding you have done will be cancelled only in the Downloaded Transactions section and not in the Bank Register.  You will need to manually untick the Reconciling marker (lightning bolt) in the Register.

    The Payee field will contain information supplied by the bank.  Unfortunately with the expansion of online payment methods, most banks use this field for transation identification codes at the start of the line.  Useful accounting information is pushed further down the line.  Reckon Accounts does have a character limit for this field, so if the transaction identification code is long then any useful accounting information may not be available to easily identify the transaction and apply a Transaction Rule to it.  You will need to entry these type of transactions manually.

    With BankData, yes, you can only download a transaction once.  If you delete singular transactions then they will need to be entered manually.  If you delete a whole file then its best to prepare a transaction list on your bank website for that date range and export it to a QIF formatted file which you can then import via Banking > Import Bank Statement.  

    Hope this explains the situation with importing bank transactions.

    regards
    John


  • Sara - Balancing Numbers
    Sara - Balancing Numbers Member Posts: 75 ✭✭
    edited August 2019
    Hi Gavin, whilst I've been using Reckon for 20+ years (since vs6), I'm  new to importing bank statements.  I'm  managing to get the GST to show up correctly when data matching payments from customers, via the following 2 methods, hope this is helpful to you.  

    I'm not sure if you're in NZ or Australia, my Reckon experience relates to files on both sides of the Tasman, although my terminology for these examples is probably NZ-based.

    Client 1 - Very basic Reckon desktop file.  Does his own invoicing, cash based everything, I support him with some Book Keeping services and only find out what 's going on from bank statements.  Each time a new customer payment appears in the Online Banking, I set up a rule to record it against this customer's name, as "Sales, 100%, tax code S".  These payments are showing in all the usual GST reports correctly.  

    Client 2 - RA Hosted, all Book Keeping done by me, bank accounts checked every couple of days, and "receive payments" entered as soon as I see them in the bank.  When I see a new customer payment in this file, I set up a rule to record it against this customer's name, as "Accounts Receivable - 100%", leaving the tax code blank.  For the purposes of this exercise, I changed his Accounting basis to cash, to confirm my assumption that the GST would show correctly, and it appears to.  

    I'd love to know if this works for you!  Reckon's bank imports (and not being able to attach documents) is a challenge in comparison to some of the other products we work with, however I do find the reporting to be fantastic for more complicated businesses, and the pricing is hard to beat, especially when value packaging work for multiple clients. 

  • Melinda Jane Koth
    Melinda Jane Koth Member Posts: 51 ✭✭
    edited September 2018
    Reckon, why is it that all other software providers can filter out the additional information at the start of a transaction description (that is junk to us)  and give us the information required?? Surely filtering is not that hard
  • Theodore Kondelos
    Theodore Kondelos Member Posts: 1
    edited February 2017
    I am having the same problem and I have only just started using bank data feeds yesterday.  Unfortunately what you have described as happening after you click on Done does not occur i.e the matched and added transactions being removed from the list.  They appear again next time I attempt to match transactions.  Am I missing something?

    Regards
    Theo
  • East Albury IGA Supermarket
    East Albury IGA Supermarket Member Posts: 6
    edited June 2017
    Hi Reckon Support
    I am finding that this 'bug' where transactions appear at the top with a lighting bolt and in the bottom register as unmatched if the computer crashed or is not closed properly...any suggestions.