When the system integrates with your bank, there are options available to help streamline the bank reconciliation process.
Auto Create Bank Reconciliation
When the bank statement is received, the system can automatically create a bank reconciliation. It will also automatically mark all transactions that match between the system and the bank statement.
Auto Post Bank Reconciliation
If all transactions match, the system can also automatically post the bank reconciliation. This option helps finalize the reconciliation without manual review when no differences are found.
How to Set Up
- Go to the Manage Bank Account page.
- Check the box Auto Create Bank Recon to enable automatic reconciliation creation.
- (Optional) Check the box Auto Post Bank Recon if you would like the system to automatically post reconciliations when all transactions match.
Summary
- Auto Create Bank Recon: Creates the reconciliation and auto-matches transactions once the bank statement is received.
- Auto Post Bank Recon: Posts the reconciliation automatically if all transactions match.
These options help save time and reduce manual effort, ensuring your reconciliations are handled quickly and accurately.