Automatically reconcile a bank statement and transactions

You can keep track of your bank balances and transactions in OnBalance. If you receive your bank statement electronically, you can compare a digital copy of your bank statement to your OnBalance transactions to reconcile the bank statement.

1. In the Transactions screen,

   To open the Transactions screen, click Transactions in the navigation panel.

   For more information, see Transactions.

   click Manage > Bank Reconciliation.
2. In the Bank Reconciliation screen, click New Bank Reconciliation.
3. Select the bank account and the period (Date From and Date To) that you want to reconcile.
4. In the Type of Reconciliation section, click Automatic.
5. To upload a file, drag the file to the Drag a file here area, or click Browse File and navigate to the file location.
6. If uploading information from an XLSX file type, select the sheet to import from the Sheet to Import field.

7. Mark the Include headers checkbox if your file has column headings you want to use when mapping columns.

   Note: If you do not mark this checkbox when mapping columns, the columns will be labeled Column A, Column B, and so on, and imported information will begin with the first row in the spreadsheet.

8. Click Next.

9. Select and map which columns of your spreadsheet to import. In the Column Mapping section, select a column for each field.

   You can map the following columns from the spreadsheet you are importing.

   • Date - This is a required field.
   • Location
   • Voucher
   • Description
   • Reference
   • Debit Amount - This is a required field.
   • Credit Amount - This is a required field.
   • Category

   Note: When you map the columns for the first time, OnBalance saves this setup of the bank account as the default. The next time that you automatically reconcile this bank account, you will see all of the columns mapped based on the default you set up the first time.

10. Click Next.

11. Compare the transactions from the bank statement to the transactions in OnBalance.

    • Matched transactions are represented by a next to the transaction. To unmatch a transaction, click the Unmatch button.
    • If you do not find the correct transaction, you can add a new transaction or search for the transaction in OnBalance.
12. After you have reviewed all of the transactions from the bank, click Next.

When the difference to be reconciled is $0.00, you can close the reconciliation. Your bank reconciliation will appear in the list in the Bank Reconciliation screen.

To see the transactions that you have not yet reviewed at the top of the list, mark the Only unchecked transactions checkbox.

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