Bank Statement Reconciliation in kpi.com
Bank statement reconciliation is a process of matching statement lines from your bank account with the transactions you create in your kpi.com account. Kpi.com automatically matches transactions in bank statement for transactions that already exist in user’s account. In case there are no transaction lines listed in the system, users can Create New transactions in order to reconcile with the bank statement. In order to import new transactions into your account follow these steps:
- Go to Accounting & Finance
- Click Bank Accounts section
- Select a bank to import statement
- Click Action menu and choose Import transactions
- Before uploading statement save the file in .CSV or .OFX format
- Finally, upload the file into the system
Once you have uploaded the bank statement, match statement data categories with those from the file and select date pattern used in the file.
Once you have uploaded and saved the file in the system, the following pop-up window will appear where the matched transactions will have “Match” button.
If some transactions are not recorded in the system, users can create a new transaction in order to reconcile with the bank statement. For creating new transactions click on Create New transactions, then fill the required fields and save it.
When you manage to match transactions, they would disappear from the transactions list. After you have reconciled all the transactions with the bank statement your Bank account balance in kpi.com will be the same with the bank statement.