Process incoming bank transactions

Accounting looks for an outstanding invoice to match each transaction during the download (or import) process. For example, if a payment for £110.00 comes in from your bank, it may match an outstanding sales invoice for £110.00. If it's correct, select Match to apply the payment to the invoice. If it's incorrect, select Edit to fix it.

If a match isn't found but you think there is one, select Match to see a list of all outstanding invoices. You may need to do this if you receive a payment that covers more than one invoice. Select the invoice (or invoices) to match.

1. Select Match to show a list of your outstanding invoices.		2. Select the relevant invoices.		3. Edit as needed. Confirm the totals match and then select Match.

If no outstanding invoices were found but you think there is one, select Search to find it.

Partial payments, overpayments, bank fees, and refunds

There may be special payment situations to consider when matching transactions to outstanding invoices. For:

• Partial payments. Enter the amount of the incoming transaction in the Amount field and then select Match. The payment will be applied as long as you've entered the total payment amount.

• Overpayments. If a customer has overpaid you or you have overpaid a supplier, partially pay the invoice and then enter the remainder as a payment on account.

	1. Enter the amount of the partial payment in the Amount field.		2. Select New Transaction and then Add.		3. Select Payment on Account and then Add. Select Match.

• Bank fees. Sometimes a bank payment or receipt may include charges. For example, if it's been converted from another currency. Change the payment amount to match the invoice amount and then select Make Adjustment.

	1. Select Make Adjustment.		2. Enter the details for the bank charges and then select Add and then select Match.

• Refunds. You can only match the refund in your bank feed to the credit note it's paying.

  • Create the credit note first.

  • From your bank feed, select Match and then select or search for the relevant credit note.

  Note: A bank transaction's net status determines its display in your feed. If a transaction, for example an outgoing payment, is the result of a payment for one invoice and a credit for another, then this will not show up in the list as a credit. If the rolled-up bank transaction is of this type, you should record a separate transaction for each element, and then discard the rolled up transaction to have each element show up on its own.

Payment on account. Use this for payments (or receipts) that don't match an invoice yet. They must remain outstanding until they can be allocated to an invoice. For example, you may receive a deposit for work that hasn't started yet or is ongoing. Select the transaction details in the For, What, Reference, and Method fields and then select Create.

• Split transactions. Use this when a payment needs to be split over several nominal accounts or different VAT rates. If you use transaction analysis types, you can also select different categories for department, cost centre, and project. Select Split to expand the transaction and then create a new line for each nominal account or VAT rate and amount. Make sure all of the lines add up and then select Create.

Use this when transferring money between bank accounts. This creates a transaction in both bank accounts. If both bank accounts use bank feeds, you'll need to discard or match the imported transaction from the other bank account.

1. Select Transfer.
2. Choose the bank account to Transfer to or Transfer from.
3. Select Transfer.

If you have transactions you don't want, you can delete them. You may need to do this if you have bank transfers or transactions you've already imported or reconciled.

Select the transaction (or transactions) you want to delete and then select Delete.