Reconcile the bank
Every statement line matches a transaction in Finday, so the book balance equals the bank balance.
Before you start
- An imported bank statement.
- Cash & Bank reconciliation access.
Steps
Step 1: Open the Reconciliation tab
On the bank account, choose the Reconciliation tab. The Unreconciled filter shows the lines to match.
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The Reconciliation tab with unreconciled bank statement lines.
Step 2: Match an existing transaction
Click Review row. Under Match existing, click Load suggestions and pick the matching transaction.
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The Match existing tab with match suggestions for one bank line.
Step 3: Or allocate it to bills or invoices
Under Allocate, click Find documents, pick the bills or invoices paid, then click Settle & reconcile.
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The Allocate tab with the documents that can be settled.
Step 4: Or create a transaction from the bank line
For bank charges or other receipts, choose Spend money or Receive money, fill in the Posting lines with account and amount, then click Create & reconcile.
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The Spend money tab with the posting lines and the Create & reconcile button.
When you are done
- Matched lines move to Reconciled.
- Matching an existing transaction posts no new journal. Create & reconcile records a new transaction on the bank line's date.
- Match suggestions learn from earlier reconciliations and from the reconciliation rules.
Common problems
The button says Submit for approval
Your access needs approval for this action. An admin with Cash & Bank approval access then runs it with Approve & execute.
A message says the posting lines must total the amount
The posting lines must add up to the bank line's amount. Adjust the amounts or add a line.
Something still unclear?
Ask us on WhatsApp. The Finday team replies during office hours and can walk you through it in your own account.