Bank Statement Import
The screen is used to process imported bank statement items.
Processing an uploaded statement
The statement item list consists of two columns. The left hand column displays all the items that are on the bank statement. The right hand column shows possible matches that the system has found and offers a description of what that may mean. Where nothing is shown on the right hand column adjacent to an item, the system has no suggestions.
Match Window(days)
Initially when a statement is imported the system uses the default window of 30 days from the date associated with the imported transaction (the date given by the bank) to look for a match. In most cases this window will be sufficient and is the most efficient in processing terms.
However there may well be transactions (often cheques)that are presented to the bank outside of this 30 day window in which case the system will not present a match. A user can therefore chose to extend globally the match window by either :-
- 60 days
- 90 days
- 90+ days
Where an organisation has a significant number of transactions extending the global window can potentially extend processing time.
Note where more than one matching transaction may exist click on the blue … symbol to pick from a list and if required extend the match window days to suit for this transaction.
Processing statement items
When an item has been processed it disappears from the screen. Note to show all items that have been dealt with toggle the SHOW ALL button at the base of the page.
For those items where there is nothing in the right hand column the user will create the transaction (as the system does not already have it). The process of creating the transaction will also reconcile the item. Click the blue ADD symbol and the Add Transaction screen is presented, see below.
Where an item is matched to a transaction that has been already posted and reconciled, the right hand column displays the shield and tick icon for reconciled. If the user is certain that is the case click the green OK button to confirm. However as it is more likely to be a different item but with the same value, inspect the date and click ADD as an item to reconcile.
Where an item is matched to a transaction that has already been posted but not yet reconciled, the right hand column displays the green OK button. Click it to reconcile and confirm.
Where a processing rule exists the right hand column identifies the rule and describes the impact. To accept the processing of the rule click the green OK button. Where more than one matching transaction may exist click on the blue … symbol to pick from a list, if none apply then green OK button.
Note where the imported value could be allocated to outstanding documents such as invoices or bills. a list of documents is presented when the green OK button is clicked. If the user would prefer to not allocated to documents then click ADD, in the left hand column to enter a specific transaction.
Add Transaction
Select the Document Type if one is not being displayed. Many import file formats will contain the document type.
Select a counterparty from the drop-down lists If necessary a new customer or supplier can be created at this point. Simply click ADD and complete the dialogue making sure you correctly create a customer or supplier as needed.
For a purchase (payment) transaction a Reverse Charge VAT tick the box will be visible. Tick this if the transaction is subject to reverse charge. See the VAT user guides and consult with your professional advisor is you are unsure as the meaning.
Select an Account; if learned account codes are associated with the counterparty then the Accounts box will be pre-populated with the default. The user can amend the selection. A user can also create a new account by clicking Create Account.
If additional Line items are required to analyse the statement item over a number of accounts click the green + symbol to open up a new line. The total of the item amount may be allocated as absolute amounts or as a percentage by toggling the £|% symbols.
If appropriate the VAT Rate displays the default rate associated with the account. The user may amend as required; and the finally displayed rate will be used in any necessary computations.
Enter any analysis is needed, Branches or Employee for P11D Purposes in the fields shown.
To complete the processing of the item click SUBMIT. The details of the transaction will be posted and when all items in statement batch have been processed and the Finalise Import button clicked the item will be marked as reconciled.