Reconciliation of Bank Accounts

Back Office > Reconciliation of Bank Accounts

This function will perform an automatic matching of payments sent by file to the bank, or

Payments entered manually (in deal input form Bank Account transactions) with statement information received by file from banks. The form consists of two parts.

The left side displays transactions in CRM Finance and the right side displays transactions imported from banks. Click on the Expand button to display comments for imported transactions.

Transactions are reconciled by the following criteria’s: Date, Currency, Amount and Account number.

Only unique transactions will be matched. If multiple matches are found none of the transactions will be reconciled.

To import the bank statement, you choose in the extended selection which file you would like to import.

Click on the Run button to perform the actual reconciliation.

When the reconciliation procedure is finished the result can be seen on screen.

Filter transactions by an extended selection.

Import non reconciled = Non financial transactions (for example commercial transactions and cash pool sweeps) included in the bank account statement file can be imported into CRM Finance as bank account transactions to update CRMs bank account balances.

Only selected transactions will be imported. Transactions can be delayed for later import (right click and select delayed, right click to activate).

Select the transaction that you want to reconcile manually and click on the Reconcile Transaction button.

Important settings

Important settings for the reconciliation function is described in the following. 

Program name must be entered in Register – Setup – System parameters.

Select accounts to be included in the reconciliation function in Register – Portfolio codes – Portfolio Codes by checking the box ‘Include reconciliation’.