Under uploaded bank account statements, it is possible to see account statements uploaded from the bank to the program.
When uploading bank statements, it is important that the different statement periods of the account would overlapby one day at least. This is needed so the system would not create ‘holes’ in the statement periods.
When uploading an account statement for the first time, a period is created for the account; each following statement must overlap this period. If no overlap is identified, a warning is displayed for the user and the statement is not uploaded. The overlap may cover the existing period’s beginning, middle or end.
If an invoice related to the transaction has not been entered into the system during the time of uploading an account statement, then the automatic link with the invoice or account is not created. If the respective purchase or sales invoice is now entered and confirmed, the automatic reconciling can again be produced by clicking on the ‘Reconcile payments and invoices automatically’ button. This button will attempt to reconcile all entries that are unreconciled at that moment. As a result, user can see whether and how many any links were created.
From Swedbank, it is possible to download an account statement in the XML format if you select in the statement settings that service fees be displayed separately. After the selection, ‘ISO_XML_052’ will appear among the file format selections.
From SEB Bank, it is possible to find the XML account statement under the ISO statements: statement export > statement format ISO statement.
Uploading a bank statement creates entries for incoming and outgoing payments. If the system could reconcile an incoming or outgoing payment with the respective object (purchase or sales invoice, employee compensation or account), then a reconciled entry is created under incoming or outgoing payments. If an entry is not reconciled automatically, then an entry appears on the Incoming or Outgoing Payments tab in ‘Unreconciled’ status.
If the transaction information is erroneous or deficient, then the transaction can be reconciled with a buyer, invoice or an account manually. This can be done in the respective Incoming and Outgoing Payments tabs by selecting the unreconciled transaction and clicking on ‘View’. First, transaction has to be reconciled with a buyer; in order to do so, please click on ‘Edit incoming/outgoing payment data’ and select a remitter or a payer from the form that opens and save. Then, the sum of transaction must be reconciled with the respective invoices, employee compensations or accounts. When reconciling a transaction, the entire incoming or outgoing sum must be reconciled all at once. One transaction can be reconciled with several invoices or accounts by using the ‘New row’ button.
Cash transaction can be added manually by clicking on the ‘Add manually’ button. Bank transaction can be added manually as well; however, we still recommend you do it automatically by uploading a bank account statement. It might be necessary to add bank transactions manually in the case of a foreign bank, for example.
Under outgoing and incoming payments, only some accounts are saved in the default settings for reconciling incoming or outgoing payments. In order to add reconcilable accounts, these accounts must be activated by editing the chart of accounts: Settings > Chart of accounts settings > Edit chart of accounts.
A window opens where you can activate accounts so they can be selected from incoming and outgoing payments, the change is saved and you can return to the Incoming/Outgoing Payments module to reconcile incoming/outgoing payments.