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).

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.