Under Settings - Accounting - Account Reconciliation, you can specify your settings for managing account reconciliation.
- If you want all transactions which are not customer or supplier payments to be summed-up into one post per day in the reconciliation, tick the box Sum of 'Other' Transactions.
If you choose to ”sum” other transactions, in your reconciliation view the post Other will appear and you have to click on the plus ”+” sign in the left hand column to open up the post and see the details of each day. See below.
- Tick the box in front of Display discrepancy warning if you wish a warning message to appear before you save, if there is a discrepancy between the accounting transactions and the banking transactions in your reconciliation.
- Under Max. Days Discrepancy, you can specify how many days difference is acceptable when automatically matching the transactions in the file you have uploaded, with the transactions posted in Briox. When you click on Match Transactions under Accounting - Account Reconciliation, the application then searches for the same amount plus /minus the number of days specified in the field.
- Commercial banks have different formats for handling text files. Select the file format you will upload and use most frequently in the drop-down menu by the field Default file format.
- Under Available Accounts enter the account(s) you want to be able to match in your accounting, such as your main current account and your cash account. The account you select by ticking the radio button will be the default account for account reconciliation and will automatically appear in the Reconcile Account view.
These accounts will then be displayed in a drop down menu in the view Reconcile Account, under Upload and Match Bank Transactions. See below.
- If you want to start using the Account Reconciliation function in the middle of a financial year, then you must specify a starting value under Opening Balance, in the Balance column so that the software can give the correct closing balance after the first reconciliation. When the next financial year is created, fill in your opening balance for the account before you start reconciling in the new year.
Before you start reconciling make sure that your bank and you accounting balance.