How to reconcile your bank account

Status can be:

OK,
Means that a Posted bank entry has been found and reconciliation of this line is OK

Unsolved,
Means no direct match has been found and the line must be handled.

Pending General Journal,
Means that the entry has been transferred to the General Journal and is ready to be handled.

Pending Cash Receipt Journal,
Means that a match has been found and the entry has been transferred to the Cash Receipt Journal and is ready for posting.

If you use Continia' s reports to print customer account statements, you can use this feature to view the account statements that the entry can be applied against

If you send out sales account statements to your customers with a FIK or Giro payment slip attached, and at the same time want the opportunity to "match" payments on a given account statement to which invoices and credit notes are to be settled, you must enter a document number series for this purpose.

The document number is deducted in connection with the printing of the bank statement and is used as Payment ID on the account statement's FI slip. Similarly, information is stored about which customer entries are to be settled if the FI slip is paid in full. The information is used so that Continia Payment Management can make a correct settlement when the payment is received.

You can read more about the setup of the reports in the section Setting up reports for printing FIK/GIK payment slips.

When Dynamics NAV or Business Central on-premises retrieves status files, account reconciliation files or account statement files, either as file import or as xml data sent through web service, they are saved in tables defined as "Data Imported From Banks".

With this function you can see which files have been downloaded in connection with this account statement.

By default, account statement lines are not editable. However, situations may arise where it would be appropriate to be able to edit in the line, e.g. if a notification or account number is incorrect.

The function thus changes to editable the first time you activate it. Is the line already editable, changes to non-editable, etc. When the line is editable, you can change all fields on the line.

Under Set up the Continia Statement Intelligence module, Lock Reconciliation Lines, you can enable or disable whether users can change reconciliation lines. It also describes how to increase the security of editing reconciliation lines.

Opens the window Reconcile Bank Entries, where you can mark which open bank entries the selected line applies to, and thus reconcile with.

If Statement Intelligence has already settled bank entries automatically, these will be listed as already marked.

If necessary, use the functions Next Applied Entry or Previous Applied Entry, to change the active line in the reconciliation journal without closing and reopening the window. The Flip show only applied function changes filter for the window.

If you filter to a specific date in the reconciliation lines, Reconcile Bank Entries and Reconcile Cust. Entries will be filtered to the same date.

Opens the window Reconcile Customer Entries Payment Management, where you can see and edit which open customer entries the line in question settles, and thus reconcile with.

If a customer number is entered on the line, it will be an overview of this customer's open entries. Customer entries will in principle be found automatically by the system, but for those customers who pay the wrong amount, on account or otherwise do not fully settle an invoice, you can manually mark the customer entry here.

If the reason for the non-settlement is due to a defective posting text or notification, you may be able to define a customer reconciliation rule that will "catch" the customer entry automatically. Read more in the section Define reconciliation rules for customer payments.

If you filter to a specific date in the reconciliation lines, Reconcile Bank Entries and Reconcile Cust. Entries will be filtered to the same date.

Opens the window Bank Account Reconciliation Line Notification, where you can see the individual notification lines that apply to that line.

You can edit the notifications if e.g. an invoice number is entered incorrectly and thus is not "caught" by the reconciliation function.

If you have used the function Merge Lines or defined Merge Rules, the lines that are merged are also described here.

By selecting 2 or more lines, you can use the Merge Lines function to combine several lines into one line.

You can e.g. merge two deposits, from the same credit card terminal, which is posted as a single bank entry. Merge Rules are ignored by manual merge.

Notice that the Posting Description changes and that you can see what is merged using the Notification function.

Displays the status of the current line. There are the following statuses:
OK,
Unsolved,
Cash Rcpt. Jnl. Diff.,
Bank Ledg. Entry Diff.,
Awaiting Cash Rcp. Jnl,
Awaiting G/L Jnl. and
General Jnl. Diff..

Imports an account statement from file or shows you a list of account statements from which to choose which account statement you want to import.

Depending on whether you use direct or manual communication with your bank, the following happens:

Manuel communication
Opens the Import Account Statement window, where you can enter the file name and path to your account statement file.

Direct communication
If you have selected Manual download in the Banks and Bank Bookkeeping Branches overview, the same thing happens as under Manual communication. If you have selected Automatic download, all account statements are imported automatically and if there are several account statements, select the one you want to import. If there is only one account statement, it is imported automatically.

Note
If this is the first time you are importing an account statement, there is a high probability that the field Last Account Statement - Balance does not match the Starting Balance specified on the account statement. This is perfectly normal and you just need to confirm that you want to change the value.

If you have previously imported an account statement, it may be a warning that you are importing an incorrect account statement.

Opens the Cash Receipt Journal window where you can view, edit and post the payments that Statement Intelligence has automatically found associated open accounts receivable to.

If there is a small offsetting difference, you must manually, and in another journal, post the difference as a wrong payment if you want the customer entry closed. Alternatively, define payment tolerances, where you can specify a payment tolerance to complete an invoice when the payment does not fully cover the amount on the invoice. You can also set a cash rebate tolerance to give cash rebate after the cash rebate date has been exceeded.

When the cash receipt journal is posted and the window is left, Statement Intelligence will automatically run the Reconcile Account Statement feature to update any new bank reconciliations. This function can also be called manually.

Opens the General Ledger Journal window, where you can view and edit created general journal lines for accrued interest and fees.

The current bank account is set as a balance entry on the expense entries, and thus related bank entries are created when posting the journal. When leaving the general journal, Statement Intelligence will automatically run the Reconcile Account Statement function so that any new bank reconciliations are updated and reconciled.

Function that you can manually activate Statement Intelligence's reconciliation function again at any time. The function runs automatically when you leave the general ledger journal or the cash receipt journal.

For example, if you have posted other journals, payments or the like that affect bank records in your bank reconciliation, it may be necessary to run the function manually.

Once you have defined a rule, you can run the Merge Lines by Rule function from the reconciliation journal.

You can define reconciliation rules that merges multiple entries into one or more entries, e.g. one entry per day. This is typically used where e.g. credit card transfers are required for a total of one entry per day.

Opens the Bank Account Reconciliation Rules window where you can view and edit the bank-specific reconciliation rules created for the bank account.

If the automatic bank account reconciliation in Payment Management is to create posting proposals in the cash receipt journal when a bank entry does not have an open record that can be settled with (eg; enclosures, drains, interest and fees), you must define rules for this.

If the function finds a rule it can match with the entry, the entry is automatically transferred to a cash receipt journal, ready for posting and subsequent applying.

Opens the window Customer Reconciliation Rules, where you can view and edit reconciliation rules for customers. The function helps you with "capture" entries on the account statement where neither invoice nor FIK number is specified.

If a rule exists and a match is found in the account statement, a posting proposal is created in the cash receipt journal with the settlement of the invoice where the amount fits. All you have to do is post the payment, the rest of the automatic account reconciliation will work out for you.