Define general or bank-specific reconciliation rules
If you want the automatic bank account reconciliation in Continia Payment Management to create posting suggestions in the cash receipt journal, when a bank ledger entry cannot find a match on an open general ledger entry, for example; coverages, emptying, interest and fee, you must define rules for this.
If the function finds a rule that it can match with the posting, a general ledger entry is automatically created in the general ledger journal, ready for posting and subsequent reconciliation. Read more about how the reconciliation works, under the section How to reconcile your bank account.
General or bank-specific reconciliation rules
You should be aware that you can define reconciliation rules in 2 ways;
- If you use the function directly from the Bank Account Card, the rules will only apply to that specific bank account. Use the Reconciliation rules function, or
- If you use the general setup, the rules will apply to all bank accounts. This is the general setup described in this section. To get to the window, select the icon
or press Ctrl-F3, enter General Reconciliation Rules, and then select the related link.
How to create reconciliation rules
The fields in the window are filled in according to the following instructions.
| Field | Description |
|---|---|
| Text | Specifies the text you want to search for in the posting text on the electronic bank statement. Examples on texts could be: 'Fee' 'Interest' 'Transfer' |
| Search Principle | Specifies whether you want to search for Exactly the same text in the posting text or whether the word just needs to be Within the text. If you specify From Left or From Right, you specify which direction should search in the text - ie whether it should search from left or from right. |
| Account Type | Indicates which account type to use in the fields Bal. Account No. (Positive) and Bal. Account No. (Negative). |
| Bal. Account No. (Positive) | Indicates which counter-account to use if the amount is positive. |
| Bal. Account No. (Negative) | Indicates which counter-account to use if the amount is negative. |