Bank Reconciliations

Overview Bank Activity displays bank data uploaded through direct bank connection , BAI transmission , or manual import. The data shown on the Bank Activity page is not GL impacting until it is matched to a transaction in R365. Users can ma...

Bank Activity displays transactions that were uploaded via direct bank connection , imported , or transmitted by a BAI connection . Once uploaded, the system matches bank activity to transactions in R365 and allows users to create deposits, withd...

Matching transactions in Bank Activity makes the Bank Reconciliation process easier. Once Bank Accounts are set up , then Bank Activity can be pulled and matched. This process consists of the following steps: Navigate to Bank Activity Upda...

If there is more than one potential match for a transaction in bank activity , the system will not auto-match. On the bank activity page , a transaction with multiple potential matches is indicated with an ‘M’ in the transaction row. Reasons for...

Once a direct bank connection has been established, bank activity can be retrieved in the bank activity page . Direct Bank Connections work in conjunction with the Bank Activity Screen . Direct bank connections replace the need to the '...

A Bank Reconciliation is a period end (or month end) procedure used to ‘true-up’ the records in your Accounting system to the actual activity in your bank account (as reported by your bank). Complete the Bank Reconciliation process by following the ...

Detailed or summary view of cleared and outstanding transactions included on a bank reconciliation. To open a Bank Reconciliation Report, open the desired bank reconciliation, hover over the 'Action' menu, and click 'Reconciliation Report'. ...

In order to reconcile a credit card, the credit card must be set up like a bank account so that you can create reconciliations for that account. For more information on setting up accounts, click here . After you have set up the credit card as a...

Bank Rules can be set and managed on the 'Bank Rules' tab of the Bank Activity screen. Bank Rules are used so the system can attempt to assign a Vendor, Account, or Location to the Activity records imported based on set conditions. Bank Rules can ...

The Rule Vault houses all active and inactive default matching rules and user-created transaction rules. From the Rule Vault screen, users can view both active and inactive rules, search and filter the list for specific rules, create a new tran...

This is a part of the Rule Vault feature. Learn more about the Rule Vault . Transaction rules in the Rule Vault enable the identification of specific transactions within bank activity. When bank activity is retrieved, and a transaction matches t...

This is a part of the Rule Vault feature. Click here to learn more about the Rule Vault . Once a user-created rule is saved, it can be updated directly from the rules list or by clicking on the rule and editing its details. While the details of ea...

This is a part of the Rule Vault feature. Click here to learn more about the Rule Vault . Both Default Matching Rules and User-created Transaction Rules can have their statuses updated at any time. Active Default Matching Rules will be first used ...

This is a part of the Rule Vault feature. Learn more about the Rule Vault . Default Matching Rules are system-generated rules that help to match your bank statement to transactions that have already been entered in R365. When retrieving Bank Activ...

If Bank Activity pulls in a withdrawal that does not match any existing payment in R365, an AP Payment can be created using the information gathered from the bank. Only users with the following permission(s) can create an AP Payment from Bank Act...

Any transaction that is unmatched in R365 is an uncleared transaction. It is recommended to reconcile your accounts as often as possible to limit any discrepancies between R365 transactions and transactions posted to your bank account. Uncleared tr...

User-created Transaction Rules often times do not match properly due to the following reasons: Conditions Are Too Strict The Conditions on a Rule help to pinpoint the transactions that should be matched for an account. When a Condition is t...

Bank Reconciliations often need to be unreconciled when a Daily Sales Summary needs to be deleted and re-polled.  Before following the steps below, it is recommended to run the Reconciliation Report . This report is always as of your las...

In order to re-poll a reconciled DSS, you will have to first reverse the steps it took to reconcile it. The steps below outline the process to complete this successfully.  Step 1: Open the Fiscal Period If the entry was made in a close...