Bank reconciliations are performed against individual bank accounts. Go to Financials > Bank Accounts and select the bank account to reconcile.
Bank Account Balances
Bank accounts show a summary of balances at the top of the page. The balances are separated into two and provide distinction between bank statement activity, and activity within Infusion.
The Statement balances reflect bank statement reconciliation figures.
- Close Off Balance: The bank account balance from the bank statement or online balance as at the close off date.
- Close Off Date: The date of the last close off of a bank reconciliation.
- Statement Balance: The sum of the Opening Balance (Close Off Balance) plus the sum of the imported bank transactions.
- Latest Transaction Date: The date of the most recently imported bank transaction. Note, if this transaction is deleted, the date does not change.
- Unreconciled: The balance of unreconciled bank statement transactions. These transactions display on the Imported tab. During a bank reconciliation, this figure continuously updates and when all transactions are reconciled it should be zero.
Infusion Balances show balances of transactions recorded against the bank account within Infusion.
- GL Balance: The sum of all reconciled transactions to date. This is the total of Reconciled transactions on the Processed tab, excluding the opening balance of the GL Account.
- Reconciled Balance: The opening GL Account Balance plus the sum of reconciled Infusion transactions.
- Unreconciled: The balance of Unreconciled Infusion transactions. This is the total of Unreconciled transactions on the Processed tab.
Import a bank file
Bank files need to be imported into Infusion to complete a reconciliation. On your bank's website export transactions from the bank account to create a file to use. File formats available for importing are OFX, CSV, TSV and QIF.
To import a transaction file, go to the Imported tab within a bank account. Drag and drop the file into the body of the tab, or select Import to browse and select the file.
Once imported, bank transactions display in the body of the screen ready to match and reconcile.
- Bank transaction details display on the left including the date, supplied reference details and amount.
- Infusion transaction details display in the middle column. Infusion analyses the detail of each transaction line and offers matches or suggestions for the reconciliation.
- Options are given at the end of each row for processing of the reconciliation. Customer or Supplier Payments are the default reconciliation options with drop down arrows beside them providing the ability to change this.
- As transactions are reconciled, balances update to reflect the activity. Reconciled transactions transfer to the Processed tab where they display with a Reconciled badge. Note: The default Unreconciled filter in the Search field needs to be removed for these to display.