The Bank Reconciliation process in UnitConnect allows you to reconcile your ledger activity with your bank. To navigate to the Bank Reconciliation page, click on Banking on the top menu and then select the Bank Account you want to reconcile. Once selected, click on Bank Synchronization actions under the Actions section on the left.
To start, the process we recommend that you connect directly to your bank account. Navigate to the Settings tab and click on Connect to Bank button. You will be prompted to select your bank and login with your regular online banking username and password.
Note: if you do not have online banking or your bank is not listed, you may be able to upload a CSV or a QFX activity file from your bank.
Once your bank is linked, you can then select the period you want to perform the reconciliation for. Click on Refresh Filter to load ledger transactions (right side) and then click on Load From Bank to bring in transactions from your bank account (left side).
As you review the bank transactions on the left side of the screen, you are able to perform any of the four available actions on the screen:
Add Transaction To Ledger adds the selected bank transaction to the Ledger. When clicked, you would be prompted to select the valid vendor account and provide any other relevant details.
Match Transaction matches the selected bank transaction(s) with the selected ledger transaction(s)
Ignore Transaction Ignores the selected bank or ledger transaction(s)
|Undo Ignored / Matched Transaction removes the match or ignore setting from the selected transaction(s) to allow you to perform Add Transaction to Ledger Function|
Debits and Credits are synchronized separately. Click on the Debits or Credits toggle to switch between Debits and Credits.
Once you have completed the reconciliation, you can click on complete session. Reconciliation history can be found on the History Tab.