Vault BusinessBanking & FinanceIntermediate
Bank Account Integration and Reconciliation
Connect your bank accounts and automate transaction reconciliation.
16 min read
4.8 rating
2,234 views
4/15/2024
Guide Information
AuthorFinance Team
CategoryBanking & Finance
DifficultyIntermediate
Reading Time16 min read
Tags
#bank-integration#reconciliation#automation
Bank reconciliation is crucial for accurate financial reporting. Learn how to connect your bank accounts and automate the reconciliation process.
Navigation To This Screen
How to reach this guide from the main application
1
Splash Screen2
Select Organization Screen3
Below The + icon4
On Tap Select Create ManuallyPro Tip: This navigation path ensures you're creating a new organization from scratch with full control over all settings and configurations.
Connecting Bank Accounts
Set up secure connections to your business bank accounts for automatic transaction import.
Step-by-step:
- 1Go to Banking > Bank Accounts
- 2Click "Add Bank Account"
- 3Enter your banking credentials securely
- 4Select accounts to connect
- 5Test the connection
- 6Configure sync settings
Bank Reconciliation Process
Learn the systematic approach to reconciling bank statements with your accounting records.
Step-by-step:
- 1Import bank transactions
- 2Match transactions automatically
- 3Review unmatched items
- 4Create missing journal entries
- 5Mark reconciliation complete
- 6Generate reconciliation report
Handling Discrepancies
Identify and resolve common reconciliation discrepancies and errors.
Step-by-step:
- 1Identify common discrepancy types
- 2Investigate timing differences
- 3Handle bank fees and charges
- 4Correct data entry errors
- 5Document resolution steps