How do I Import my Bank Statement into the Bank Reconciliation?

Summary

This article explains how to configure to set up the bank reconciliation to import the output from your online banking into Platinum so the matching and reconciling is more automated. This document assumes you are familiar with the " Bank Reconciliation" in Platinum; see the See also section to find out more.

More Information

Configuration

Import Template

Firstly you will need to set up an import template that will import the output document from your online banking into platinum. To do this

• Go to " Data Import".
• At "Template Code" enter a three letter code for the new import template.
• Press <Enter> and enter a suitable description for the new template. Something like 'Bank Statement Import'.
• At "Destination", enter 'EXRD'. A description of 'External File Reader' should appear.
• At "Source File", enter the location where you will save the output file from your online banking and press <Return>.
• Where it says 'Line Type 1', press <F5> to start defining where the variables will be found in the file from the online banking.
  • The first line communicates to the " Bank Reconciliation" whether the transaction is a Debit or a Credit.
    • Under "Variable", enter '1'.
    • Under "Expression", follow the rules for expressions to define the location in the file where a 'C' can be found for credits and where a 'D' can be found for debits.
  • The second line communicates to the " Bank Reconciliation" the date on which the transaction took place.
    • Under "Variable", enter '3'.
    • Under "Options", enter the format in which the date is expressed. For example 'DD/MM/CCYY'.
    • Under "Expression", follow the rules for expressions to define the location in the file where the date can be found.
  • The third line communicates to the " Bank Reconciliation" the amount of the transaction.
    • Under "Variable", enter '2'.
    • Under "Expression", follow the rules for expressions to define the location in the file where the amount can be found.
  • The fourth line communicates to the " Bank Reconciliation" a description or comment for the transaction.
    • Under "Variable", enter '1'.
    • Under "Expression", follow the rules for expressions to define the location in the file where the dscription or comment can be found.
• Press <Esc> to return to the 'Line Type 1'.
• Press <Esc> again and [Accept] the changes and your import template will be complete.

Linking the Import Template to the Nominal Centre

Next you will need to link the import template you have just created to the Nominal Centre of your Bank Account. To do this:

• Go to " Nominal Ledger Maintenance Options Centre Maintenance Insert/Amend/Delete Centres".
• Search for the centre that you want to be able to reconcile.
• Press <F5> or click [Edit] to edit the centre.
• At "Template", enter the code of the import template you have created.
• Press <Esc> and [Accept] the changes.

Reconciling

You are now ready to reconcile your centre with the aid of an imported bank statement.

• Enter the "Reconcile to date" and "Statement balance" in the usual way and press [Search] to list the transactions.
• You will have two lists of transactions. On the right are the transaction in Platinum; on the left are the transactions that have been imported.
• At this stage, Platinum will have matched up any transactions that it can; these will appear as reconciled.
• Your job is then to match up the remaining transactions.
  • Use the [Select] button to select transactions from the left and right that match. You then use the [Finish] button to link those transactions together. This will set the transactions to be reconciled.
  • You can unlink transactions by using the [Unlink] button, this will un-reconcile both the imported and Platinum transactions that had previously been linked together.
• Once you have finished, press <Esc> and [Accept] in the normal way.

See also

• Reconciling your bank account
• How do I Set a Nominal Centre to be Reconciled?

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Keywords AND Misspellings

bank, account, reconcile, balance, rec, acc, month end, month, end, Bank Reconciliation, Reconciliation, bank recon, bank reconcilliation, statement, import

Tags

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