Bank Reconciliation & Statement Import

Auto-Matching Video Tutorial

The auto-matching feature saves significant time by automatically suggesting matches between your bank transactions and accounting records. Watch this video tutorial for a complete walkthrough:

Auto-Matching Configuration and Review Process

Overview

Bank reconciliation is the process of matching transactions between your accounting records and bank statements to:

  • Ensure cash records are accurate
  • Detect fraud or errors
  • Maintain proper financial controls

Starting the Reconciliation Process

1. Access Reconciliation List

Reconciliation list screen
Figure 1: Bank reconciliation list view
  1. Navigate to Banking & Cash → Reconciliation
  2. View existing reconciliations
  3. Click New Reconciliation to begin

2. Choose Reconciliation Method

Method selection screen
Figure 2: Choosing a reconciliation method

Select your preferred method:

  1. Check-off Reconciliation

    • Manual matching of transactions
    • Ideal for simple reconciliations

  2. Statement Import

    • Automated matching with electronic statements
    • Recommended for most users

Method 1: Check-off Reconciliation

3. Select Bank Account

Bank account selection
Figure 3: Selecting bank account for check-off
  1. Choose bank account (e.g., "111100 - Bank Account")
  2. Click Select Bank to proceed

4. Manual Transaction Matching

Manual reconciliation screen
Figure 4: Manual transaction matching interface
  1. Enter statement date (e.g., 10/08/2025)
  2. Review uncleared transactions:
    • Check boxes for items appearing on bank statement
    • Example: "NC-2025-0002 - Test - SGD 180.00"
  3. Verify totals match (Difference: SGD 0.00)

Method 2: Statement Import Reconciliation

2. Import Bank Statement

Statement import form
Figure 5: Bank statement import form
  1. Select bank account (e.g., "111100 - Cash in Bank")
  2. Enter statement details:
    • Date (06/08/2025)
    • Opening balance (0.00)
    • Closing balance (2,448.00)
  3. Upload statement file (.Jinx format)
  4. Click Import

3. Review Imported Transactions

Imported transactions
Figure 6: Imported statement lines ready for matching
  1. View all imported transactions
  2. Options for each transaction:
    • Match manually
    • Auto-match (see below)
    • Split transaction (see below)

4. Configure Auto-Matching (Optional)

Auto-match settings
Figure 7: Auto-matching configuration
  1. Set matching rules:
    • Date tolerance (1 day)
    • Description similarity (85%)
    • Confidence threshold (85%)
  2. Add exclusion patterns (e.g., "ATM WITHDRAWAL")
  3. Save configuration

5. Run Auto-Match Review

Auto-match results
Figure 8: Reviewing auto-match suggestions
  1. System displays potential matches (e.g., 21 matches)
  2. Review confidence levels:
    • ≥90% (High - pre-selected)
    • 80-89% (Medium - review recommended)
  3. Click Apply Selected Matches

6. Handle Unmatched Transactions

Transaction splitting
Figure 9: Splitting a bank transaction

For transactions without matches:

  1. Click [|] split button
  2. Create journal entries:
    • Select accounts
    • Enter amounts
    • Add descriptions
  3. Example: Bank fee of SGD 2.00 to "Income Tax Payable"

Finalizing Reconciliation

Final reconciliation
Figure 10: Completing reconciliation
  1. Verify reconciliation summary:
    • Bank balance: SGD 2,950.00
    • Book balance: SGD 2,950.00
    • Difference: SGD 0.00
  2. Review all transactions
  3. Click Finalize Reconciliation to:
    • Lock the period
    • Generate report
    • Update balances

Best Practices

  • Reconcile frequently: Weekly or daily for active accounts
  • Use splits transaction: When one transaction covers multiple items or can just for create one journal entry
  • Document clearly: Add notes explaining splits
  • Verify amounts: Double-check tax calculations
  • Standardize: Use consistent references

Next Steps

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