The To Be Reconciled tab lists the transactions that have been uploaded from your bank feed or imported through an Excel spreadsheet but have not as yet been reconciled with the transactions you’ve entered into hAIbooks through your normal day-to-day business e.g. through invoicing.
Viewing a list of unreconciled transactions
To view a list of unreconciled transactions, select the To Be Reconciled tab.
The To Be Reconciled list contains the following details:
- Date: The date the transaction was created in hAIbooks.
- Description: The name of the transaction.
- Payee: If the transaction related to a payment, the name of the person or organisation receiving the payment.
- Paid In/Paid Out: the amount that has been paid in or paid out of the bank account, relating to that transaction.
- Category or Match: hAIbooks analyses each transaction imported either through a bank feed or Excel spreadsheet, and assigns each transaction an option, depending on what its analysis finds. to the most likely hAIbooks category. It also searches for a likely match for the transaction e.g. a transaction that you have already entered on hAIbooks.
- Activities: This gives you a choice of actions to take in relation to individual transactions in the list. The choices open to you depends on how hAIbooks analysed the transaction. Select View to take a look at the transaction and the list of records found that might match it. Select Create to create a transaction in hAIbooks that corresponds to the transaction in the bank feed.
You’ll also see a tickbox to the left of each transaction description. Ticking this box activates the Activities drop-down menu directly below the To Be Reconciled tab. The Activities menu is used to:
- Approve: Select this to approve actions.
- Archive: Select this to archive the transaction.
- Bulk Edit: Select this to modify several transactions at once. With Bulk Edit you can change the transactions’ Account Type and VAT Rate.
You can sort the To Be Reconciled transaction list by date order or by category/match order. Simply click the arrow in the Date or Category/Match column header.
Category and Match Options
For each transaction in the To Be Reconciled list, the Category or Match column will indicate one of the following:
- Record Found: If hAIbooks has found a perfect match for that transaction in the list, it will display Record Found. This means that hAIbooks has found just one transaction that has the exact same value as the bank transaction imported through a bank feed or Excel spreadsheet.
- X Records Found (where X is a number): This indicates that hAIbooks has found several transactions in the system with the exact same value as the bank transaction imported through a bank feed or Excel spreadsheet.
- Uncategorised Sales: This indicates that hAIbooks hasn’t found any income transaction with the same value as the bank transaction, so it has recommended it be assigned to a non-specific income group. It calls this Uncategorised Sales.
- Uncategorised Expenses: This indicates that hAIbooks hasn’t found any payment transaction with the same value as the bank transaction, so it has recommended it be assigned to a non-specific expense group. It calls this Uncategorised Expenses.
- Rule Applied: This indicates that a rule has been created for the parameters of this transaction which has meant it has been automatically treated in a certain way.
Viewing Individual Unreconciled Transactions
To view an individual unreconciled transaction, select its name under the Description column header. The transaction entry will expand to show you more details about the transaction, including actions to take to reconcile the transaction: Match, Search a Match, Create Invoice, Create Transaction and Transfer.