Question

Finalizing Bank Statement using Manual Transaction

  • 25 April 2023
  • 2 replies
  • 60 views
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Using the cloud based version of IFS, I used the Automatic Transaction Matching method for one of our bank accounts and when I had finished reconciling the account, there was a button that said Final Matching. It finalized the bank statement and you could see the reconciliation in the Cash Account Reconciled Transactions Analysis and Bank Statement Reconciled Transactions Analysis screens. 

 

My question, I have a low volume bank account that I decided an upload for this account would be too cumbersome, so I reconciled that account via the Manual Transaction Matching screen. Everything is reconciled as it should be, but I do not see a Final Matching on this screen, and it is not showing in the screens from above like the Automatic Transaction Matching reconciliations are. How do I finalize the reconciliation through the manual matching? Any information would be appreciated. Thank you!

2 replies

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Hello,

 

I don’t have the answer to provide although I would like to ask for an advice : In your process, how did you get the “final matching” option ? which amounts should be equal and which should be set to zero on the “automatic matching” screen to be able to run the final matching ? I am trying it and I would like to know on which amounts should i focus in order to get this button

 

Thank you :) 

Tanya

D
Rank
Badge +2

Hello,

 

I don’t have the answer to provide although I would like to ask for an advice : In your process, how did you get the “final matching” option ? which amounts should be equal and which should be set to zero on the “automatic matching” screen to be able to run the final matching ? I am trying it and I would like to know on which amounts should i focus in order to get this button

 

Thank you :) 

Tanya

 

From what I have seen, you get the “Final Matching” Button once all of your Bank Transactions (bottom section) are cleared. I believe what the IFS programmers were getting at is that every item on your bank statement should be taken care of before you are “finalized”.

I have a situation where there ARE some bank transactions that won’t clear until the next month. At that point, I can go back to the previous months’ bank reconciliation and be able to see the “Final Matching” button at that point. 

 

Hope that helps.

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