Auto-Reconciliation

Auto-Reconciliation is designed to be simple, efficient and promote quality of results.
The system now allows bank statements to be imported into Arbor Finance. From there, transactions can link automatically (if they meet the matching criteria) or you can manually match the value onscreen.

Turn on Auto-reconciliation

1. To turn on Auto-Reconciliation you must go into the System setup
   
   
   
2. Under the Options heading, and then Transactions you will see Auto-Reconciliation. The Default setting is Off.
3. To turn on Auto-Reconciliation change the setting to On, choose your bank accounts to auto reconcile and click on Save.
   
   
   

Import a bank statement

When downloading the bank statement from your bank using Excel, save the file as a CSV. Saving in a different format can change the format of the file which will affect the import of the statement into Arbor Finance.

1. To import a statement you should start by going to the Bank Processing screen. This is in the same place under the main Transactions menu.
   
   
   
   
2. In this new page, you will see your bank accounts on the left pane and the transaction list associated with the selected account on the right pane. This drop-down will default to your default bank.
3. To start the import please ensure that the statement meets the on-screen criteria in terms of file size and type and then click the Import Statement button.
   
   
   
   
4. In the pop-up, navigate to the saved bank statement file and click open. You will then be asked to choose your header line.
   The Header line is the line which contains your column headings. For many bank statements, this will not be row 1 as there is often data such as address etc. in this space.
   The first time you import you will have to have pre-opened a file to see which is the header line but once you have imported once, Arbor Finance will remember this information for you.
   
   
   
   
5. Next, Arbor Finance will upload the file for you and insert the headings in your statement on the right-hand side. You should ensure these match with the left column. This is due to different bank statements using slightly different language in their column headings.
   
   
   
   
6. We then get the Data Import Approval pop-up. This gives you the chance to sanity-check the information.
   If you have chosen the wrong header line/column headers it should be quite obvious on this screen.
   If everything is correct then click Approve. If not, then go back and re-configure to ensure the header line and column headers are set correctly.
   
   
   
   
7. We are then brought to the new Reconciliation screen.
   
   
   

Auto Reconciliation

Any transactions which match date, reference and amount will be reconciled straight away.

Our intent is to improve on this logic moving forward to allow more transactions to be automatically reconciled too.

Any transaction which is automatically reconciled will not be shown on this page but will have already been moved into the Pending Reconciliation area.

Manual Reconciliation (On-Screen)

Next, you will be able to manually reconcile the other transactions.

To do this simply select a line from the bank statement. This will highlight it in blue.

Then, look through the “Unlinked Transactions” on the right and tick the relevant transaction to link it.

As soon as you tick to the link, the transaction will move to the top right “Linked Transactions” table.

As the amount matches you can now mark this as Ready to Reconcile using the toggle button next to the line on the bank statement. This will move it to the Pending Reconciliation list.

It is easy to see that it has worked because the toggle turns green for a moment before the line disappears

Please Note:

If the amounts do not match then Arbor Finance will not allow you to reconcile the line.

Note: To see more about a particular transaction you can use the arrows on it to expand and contract:

One visual aid is also key in that the line on your statement should match your “Linked Total” on the right-hand side.
In this example, the statement shows 296.82, as does our Linked Total.

This process can be continued (like a checklist) until all items from the bank statement are toggled to Ready to Reconcile and have been cleared from the list.

If you want to navigate away from the page you can easily save your progress and then return.

Arbor Finance will remember exactly where you are. This is particularly useful if there is something on the bank statement which you have not posted yet.

Please note at this point nothing has been reconciled. It is only being put in a Ready to Reconcile state.

Bank Reconciliation

1. Once the bank statement has cleared (automatically, manually or via a combination of both) you will have an empty Bank Statement pane like this:
   
   
   
   
2. To view all Ready to Reconcile items, simply click the View Pending Reconciliation toggle on the page:
   
   
   
   
3. You will now see all the items which you have marked (or were automatically marked) as Ready to Reconcile.
   
   
   
   
4. You will also notice that the Pending Reconciliation, Value of Transactions on Statement and Linked Transaction Total are all the same, therefore you are able to reconcile.
5. Simply, click Reconcile and you will get a pop-up where you can enter your reconciliation date, reference and see the summary of that account.
   
   
   
   
6. Click Complete Reconciliation to finish the process.