Reconcile a client's bank
Import a client's bank statements, reconcile the lines and set up bank rules from their page in Billbook Practice.
- Import a statement
- Find matches
- OK each line
You reconcile on the same screen the business uses, in the same books. Reconciling means matching each bank line to what's in the books, so the books agree with the bank.
The client needs books in Billbook first. If the screen says No books yet, create them in BooksBooks & advisers.
How do I add a bank account?
- Open the client and go to BooksBank.
- Choose Add bank account.
- Enter the Account name and pick a Type: Bank account, Credit card, PayPal or Other.
- Add the BSB, Account number and other details if you have them.
- Choose Add account.
Changing the client's bank needs permission to manage the ledger. Without it the screen is read only.
How do I bring in transactions?
- Pick the account, then New and Import a statement.
- Drop in a CSV, OFX or QFX file from their internet banking.
Lines already imported are skipped. Very large files need splitting into smaller date ranges.
Bank feeds Coming soon will bring lines in by themselves. Until then, import a statement.
How do I reconcile?
- Stay on Reconcile.
- Choose Find matches to suggest a match for as many lines as possible.
- Check each suggestion and choose OK.
- Lines that are sure (an exact match, a bank rule or a transfer) can be done together: choose the OK all button in the banner and confirm.
Click a line for more choices: Code it instead, Find & match, or under More, Record as a transfer, Split across accounts and Code every waiting line from this payee the same way.
Use the keyboard: j and k move between lines, Enter OKs one.
What's the warning about a lodged BAS?
If a line you reconcile is dated in a period whose BAS (business activity statement) is already lodged, Billbook warns you after it's saved. The lodged BAS won't change, so fix any GST difference in a later BAS. Transfers don't warn, as they have no GST. To stop changes to a finished period altogether, set a lock date in BooksBooks & advisers.
How do I undo a reconciled line?
Straight after, choose Undo on the message. Later, open Bank statements, find the line and choose Unreconcile. It goes back to the reconcile list, and whatever it was matched to stays in the books.
How do I exclude a line?
For a duplicate or a line that isn't real, open it and choose More then Exclude this line. It shows as Excluded under Bank statements, where Restore brings it back.
What are the other tabs for?
- Bank statements: every imported line, filtered by Unreconciled, Reconciled or Excluded.
- Reconciliation report: the Balance in books against the Statement balance, with what's not yet on the statement and not yet in the books. It ends with Reconciled, no unexplained difference. or the difference to find.
- Bank rules: see below.
How do I set up a bank rule?
- Open Bank rules and choose New rule.
- Give it a Rule name, and pick Money going out or Money coming in.
- Under When the bank line…, add the conditions to match, like the payee.
- Under Code it to, pick the account. Split across another account if needed.
- Choose Save rule.
Matching lines are suggested with the rule's coding, and you still OK them. To reconcile every match at once, choose New then Apply bank rules now.
Can I record money without a statement line?
Yes. Under New: Spend money, Receive money or Transfer money.
How do I close a bank account?
Choose Close account. An account that was never used is deleted. One with history is archived, which needs a zero balance and nothing left to reconcile. Find it later under Closed accounts and Reopen it.
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