ACR is excited to announce that we can now offer more functionality for Importing Bank Transaction Files that is so easy ‘it just works’. In doing so we have created a new menu item that will allow sites to import a bank transaction file in order to match, flag, and create Cash Payments and Cash Receipts.
Whether you just want to import deposits only or all transactions from your bank this will reduce the number of hours operators are entering data and as it learns it will make the process even faster.
Please note that the Banking System will either need to be in the same month as the Debtors month, or in the previous month. If configured for multiple Bank Accounts, the respective Banking System will need to be selected first.
If you are ready to get started, please click here for more details on the Banking Configurations before continuing on.
Load File button
Upon selecting the ‘Load File’ button, the system will load the Bank File selected and read it according to the Banking configurations set and if the file has a Heading, this will be ignored.
After reading the file, the program will perform the matching logic according to the Banking Configurations. Please click here for technical details on the logic used for matching
On each record that has been matched, an image will be shown:
- Grey check mark – Matched previously
- Green tick – Auto match
- Blue tick – Manual Match
Negative amounts will be shown as a positive amount, but in red. It should be noted that the system will only match records when it is 100% sure and will learn from previous manually matched transactions using descriptions.
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Users can press the ‘<–>’ heading in order to switch sides. Changing the view will not limit what is done once Accept Batch is pressed
Selecting a record (or double clicking one)
This will auto fill in the action details at the bottom. The available actions are depended on the highlighted record:
Create Receipt – This gives the user the ability to create a Cash Receipt after specifying a Debtors Account
Create Payment – This gives the user the ability to create a Cash Payment to the configured ‘Bank Charges GL Account’ Please click here to view the Banking Configurations
Create Link – This gives the user the ability to link the Bank File Transaction to an unlinked Cashbook entry with the same Amount.
Note: if only one Cashbook entry for the exact amount exists this will be prefilled. If there are more than one Cashbook entries for the exact amount the user will need to select the correct transaction from the available options in the last drop down box.
Remove Link – If OK is selected, this will remove the link between the Bank File Transaction to the linked Cashbook record.
Note: If/when OK is selected on a Debtor Payment entry it will also remove that particular payment reference from the references stored against the customer – meaning that if you process a payment to the wrong customer you can just unlink it (providing you’re in the same month) and it won’t remember the reference and that will avoid a future payment being matched using the Logic to the wrong account again.
Cash Receipts / Cash Payments:
Users can manually create a Cash Payment using the ‘C-Payments’ button, or a Cash Receipt using the ‘C-Receipts’ button. Any Cash Receipts / Payments created here may automatically be included in the batch upon return. Any new Cash Receipts included in the batch will go though the normal matching logic.
Example of Cash Receipt using highlighted record:
Cash Payment Example using highlighted record:
Radio Groups:
Users can use the radio groups at the top to limit what is shown on the screen:
- All Transactions – Show all transactions
- Deposits only – Only show Deposits on both sides
- Expanded Mode – Show all transactions for the whole month, plus any brought forward entries
- Simple Mode – Only show transactions within the date range of the file imported. It will also include Cashbook records matched with these Bank File Transactions that are outside of the file date range
Transient Mode:
Whilst we recommend that Cash Receipts are up to date before processing Debtors End of Month, we understand that this may not always be possible and there may be outstanding previous month transactions showing on the last Bank Statement / Bank File that were not posted at the time Debtor Month End was processed. The double entry method is normal practice for businesses to record these transactions and in following this logic we have created the Transient Mode function.
When the Debtors month is in advance of the Banking month, then the screen will switch into Transient Mode and the text ‘*TRANSIENT MODE*’ will be shown at the bottom of the window.
Cancel Batch button
When ‘Cancel Batch’ is selected it will remove the entries from the screen. This means all actions (create receipt, create link etc) in the current batch will not be processed BUT the bank file transactions that were loaded will be reloaded upon loading the next file.
Accept Batch button
On Accept Batch, the following will happen:
- Cash Payments will be created to the Financial account ‘Bank Charges GL Account’ using the Bank File Transaction Date.
- Cash Receipts will be created in the following way if in Transient Mode:
- A Cash Receipt using the Bank File Transaction Date to the Financial account ‘Debtor Clearing GL Account’
- A second Cash Receipt for a Zero amount dated as the first day of the Debtors Month, with a negative amount for the Financial account ‘Debtor Clearing GL Account’, and a positive amount for the Debtor
- Cash Receipts will be created in the following way if not in Transient Mode:
- Cash Receipt dated using the Bank File Transaction Date to the Debtor
- If the configuration ‘Auto Flag Matched Entries’ is set to True, all matched Cashbook records (either linked or as a result of creating a Cash Payment / Cash Receipt) will be ‘Flagged’ in ‘Bank Reconciliation’
Options Menu:
The options menu has the below options. These are options that should normally never need to be run, as such a warning message with a tick box that must be ticked by the user is shown. After performing the process, the screen will be cleared (If a file has already been loaded):
- Remove Month Data Links – All Bank File Transactions in the current month will be unlinked.
- Removed Month Bank File Transactions – All records of previously loaded Bank File Transaction in the current month will be deleted