Bank Reconciliation

Bank Reconciliation

Reconciliation matches bank statement lines against accounting entries. This ensures your books match the bank's records.

Manual Reconciliation

1. Open the Bank Journal → Reconcile button.
2. The reconciliation view shows:
• Left: Statement lines (from bank import or manual entry).
• Right: Matching journal items (invoices, payments, expenses).
3. Select a statement line and an invoice/payment. Quickenerp suggests matches based on amount and partner.
4. If the amounts match exactly, click Validate.
5. If the amounts differ (e.g. bank fee), click Write Off and enter the difference as a bank charge or interest income.
6. Reconciled items disappear from the view. The bank balance updates.

Auto-Reconciliation

Quickenerp can auto-reconcile when statement lines match open entries exactly:

• Go to the Bank Statement → click Auto Reconcile.
• Quickenerp matches by: Partner name, amount, reference, or communication.
• Matches are applied automatically. Unmatched lines remain for manual handling.
• Auto-reconcile is useful when you have many small transactions (e.g. eCommerce payments).

Reconciliation Models

Quickenerp can learn from your reconciliations. After reconciling a few lines manually, it suggests the same mapping for similar future transactions. These are called Reconciliation Models.

• Example: Bank statement line with label "TRANSFER FROM JOHN" → always match to invoice from customer John.
• Example: Label "PAYPAL FEES" → always book to "Bank Charges" expense account.
• Go to Accounting → Configuration → Reconciliation Models to manage.

Reconciliation Reports

• Reconciliation Status - Each journal shows a mini-chart of reconciled vs unreconciled amounts.
• Aged Receivables/Payables - Show unreconciled invoices by age.
• Report Periodically - Reconcile at least monthly to keep financial reports accurate.

Recent Reconciliation Improvements

• AI-Powered Matching - Machine learning suggests reconciliation matches based on historical patterns.
• Batch Reconciliation - Reconcile multiple bank statements at once.
• Real-Time Balance Indicator - Shows book balance vs bank balance during reconciliation.