Content:
Briox has two main reconciliation views
Working in Reconcile bank transactions
Reconciling customer and supplier invoices
Optional setting – Reconcile the entire journal entry
Optional setting – Do not reconcile the entire journal entry
Working in Reconcile accounts
Other Reconciliation views in Briox
Manual reconciliation (Customer and Supplier Invoices)
Reconcile invoices against credit notes
Write off an invoice that will not get paid
Reconciliation status in the transaction list
Importing historical data to Briox
Briox has two main reconciliation views:
-
Banking → Reconcile bank transactions
Used to match bank account statements with- Customer and supplier invoices and the claim accounts
- Journal entries.
-
Accounting → Reconcile accounts
Used to reconcile all balance sheet accounts.
These two views serve different purposes and follow the same reconciliation logic.
Working in Reconcile bank transactions
In this view you reconcile the bank account against actual bank transactions.
You can also create transactions from the account statement using banking templates.
Only journals and drafts that have the bank account/payment method being reconciled will be displayed in the view. If you select the All filter, you will see all these journals and drafts as well as all the unpaid or part paid invoices.
Reconciling customer and supplier invoices
For an invoice to be marked as reconciled in Reconcile accounts, and no longer appear in the Banking view
the invoice must be fully paid.
This means:
- The bank account (e.g. 1930) must be reconciled, and
- The receivable or payable account (1510 or 2440) must be cleared through the payment. The payment can be carried out under banking or manually.
Once the invoice has been matched with the bank transaction (payment) and processed:
- The invoice and the bank transaction disappear from the Banking view
- The invoice is paid and the transactions (bank and receivable/payable account ) are considered reconciled in Reconcile accounts
Important
If an invoice is partially paid, it will continue to appear in Banking until the remaining receivable/payable balance is settled.
When an invoice is partially paid, the journal row for the payment on the receivable/payable account is not marked as reconciled. It will only be reconciled once the remaining balance is cleared through additional payments and the invoice is paid in full.
Reconciling Journal entries
When a bank transaction is matched against a journal entry, a journal draft or a journal template, there are two possible approaches:
Optional setting – reconcile the entire journal entry
This setting is enabled by default:
- All rows of the journal entry are marked as reconciled when the bank transaction is matched.
Advantages:
- Less manual work in Reconcile accounts
- Suitable for users who prefer a more automated workflow
This setting is mainly a convenience feature and determines how much manual reconciliation remains in the account reconciliation view.
Optional setting – Do not reconcile the journal entry
-
None of the rows of the journal entry are reconciled when the bank transaction is matched.
The reconciliation of every single journal row, including the bank account must be carried out entirely under a Reconcile account.
- When the journal is matched against the bank account it disappears from the banking view as it is matched against the bank transaction.
When working in Reconcile accounts
In this view you reconcile general ledger accounts against their supporting records.
Examples:
- Bank account vs bank statement
- Accounts receivable vs customer ledger
- Accounts payable vs supplier ledger
How does this affect the Banking view?
When the bank account (for example 1930) is reconciled under reconcile account,
- Journals with one or many bookings to that account (1930) no longer appear under banking.
- Invoices need to have both the bank and the accounts receivable and payable reconciled to no longer appear under banking.
The Banking view shows what still needs to be handled against the bank statement, and for invoices the ledgers also need to be fully reconciled for the invoice to disappear from the banking view. That is to say, the invoice needs to be paid in full.
Other Reconciliation views in Briox
In addition to the two main reconciliation views in Briox, there are other views in which you can reconcile transactions:
Manual reconciliation (Customer and Supplier Invoices)
Reconcile invoices against credit notes
Reconcile invoices against credit notes by paying them manually on the same date. This is only necessary if they have not been quit automatically.
Write off an invoice that will not get paid
In the case of a customer or supplier invoice you know will not get paid, you need to instead write off the invoice.
Go to the customer or supplier invoice view and select manual reconciliation.
In this view you can select the x at the end of the row and enter the account to which the unsettled payment should be posted.
Reconciliation status in the transaction list
In the transaction list in Banking, a column next to the account statement amount shows how each transaction is posted to the bank account in the general ledger.
This provides a quick overview of the reconciliation status without opening each transaction.
Importing historical data to Briox
Bank Transactions
When importing historical bank transactions that were already handled previously, you want to avoid cluttering the banking view with these.
Under banking - Reconcile Bank transactions, use the date range selector to get the correct transactions in the left hand column then select all the bank transactions and click: Hide selected transactions at the bottom of your screen.
The bank transactions are not deleted, only hidden. You can see them if you select Bank statements.
Briox Transactions
If historical journals have been imported to Briox they will need to be reconciled under Accounting - Reconcile Account.
Select all or specific accounts and click on Mass Manage Transactions.
Enter a to date and click on Reconcile.
For journals, it is sufficient that the bank account is marked as reconciled for the transactions to disappear from the Banking - Process transaction view.
For customer and supplier invoices to disappear from the view the invoices must be marked as paid in full.