Reconciling a bank account
Bank reconciliation is a procedure within most organisations, but historically, has been incredibly time consuming, often including paper statements and lots of manual matching. Intacct can assist with this, and the steps and video below will guide you through completing your Bank Reconciliation.
Reconciling your Bank Account
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Go to Cash Management > All tab > Reconciliation > Bank or Credit card.
The Reconciliation page appears.
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Select the Account to reconcile from the dropdown.
If you're using a bank feed to reconcile, check the Bank feed status field to make sure that your account is connected to the feed.
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Enter the Statement ending date and Statement ending balance that which you can find on your bank statement.
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Select Continue.
Manually match a transaction against a physical bank statement
Follow these instructions to manually match transactions against a physical copy of your bank statement.
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Go to Cash Management > All > Reconciliation > Bank or Credit card, depending on the account you're reconciling.
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Enter account information and select Continue.
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On the account reconciliation page, view unmatched transactions.
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Select a transaction and either:
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Select Match transactions button above the grid or,
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Select the Match link next to the appropriate transaction.
Match an imported or bank feed transaction to an existing transaction in Sage Intacct
To match transactions from an import file or bank feed, first create a rule set for the account. Import a file or refresh the bank feed, then manually match outlying transactions that were not automatically matched.
On the account reconciliation page, find bank transactions on the Bank tab. Transactions entered in Sage Intacct appear on the Intacct tab. Start matching transactions from either tab.
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Go to Cash Management > All > Reconciliation > Bank or Credit card, depending on the account you're reconciling.
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Enter account information and select Continue.
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On the account reconciliation page, go to either the Bank or Intacct tab and view unmatched transactions.
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Select Match next to a transaction.
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Select transactions to match to the original transaction.
The Remaining to match amount updates based on your selection.
Keep in mind that you can partially match a bank transaction to an Intacct transaction.
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Select Match.
Create additional transactions from the line level.
Create additional transactions within Sage Intacct to match a bank transaction directly from the line level. When you create a transaction from the line level, most transaction information defaults onto the page to save you time.
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Go to Cash Management > All > Reconciliation > Bank or Credit card, depending on the account you're reconciling.
The Reconciliation pop-up appears.
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Enter your account information and select Continue.
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On the account reconciliation page, go to the Bank tab.
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Select Unmatched from the State field, select a Transaction type, then select Apply filters.
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Find the bank transaction and select the Action dropdown where you can select the type of transaction to create.
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The transaction page appears with transaction details defaulted into the fields.
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Enter the appropriate information and select Save.
Create additional transactions from the More actions menu
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Go to Cash Management > All > Reconciliation > Bank or Credit card, depending on the account you're reconciling.
The Reconciliation pop-up appears.
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Enter your account information and select Continue.
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On the account reconciliation page, select More actions.
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Select a transaction to create.
The appropriate page appears for you to enter your information.
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Enter the appropriate information and select Save.
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