Open Banking. Reconciling proves your books agree with the bank to the last penny.
1. Add a bank account
Under Bank accounts, select Add bank account. Enter the Account name, Bank and Account number, and choose the Cash account it maps to in your chart. Each bank account uses its own cash account, in your books' base currency.
2. Import a statement
From a CSV file: under Import a statement, choose the Bank account, enter the Statement date (YYYY-MM-DD), the Opening balance and Closing balance, and the Statement file, then select Import statement. The CSV needs date, amount (or debit and credit), description and reference columns.
From an OFX, CAMT.053 or MT940 file: under Import a bank-format statement, choose the file. The format is detected from the file (File format: Detect from the file), and the file carries its own balances, date and currency, which must match the bank account's currency. OFX has no opening balance: enter it under Opening balance (OFX), or leave it out and Books works it out from the closing balance and the lines, but only when the statement follows on from the account's latest statement.
Books imports a statement only if the opening balance plus the lines equals the closing balance exactly. A file is imported whole or not at all. A statement you already imported, or one that repeats some of an earlier statement's lines, is refused and tells you the first repeated line, so nothing is counted twice and no second real charge is dropped quietly.
3. Match each line
Select Open on a statement under Statements to see its lines, each marked Unmatched, Matched or Posted.
- Find match lists the journals in your books with exactly that amount. Choose Match on the right one.
- If the books have no entry yet, post it from the line: Post as bank fee, Post as transfer out or Post as transfer in.
- Unmatch takes a match back.
Let rules do the repeats
Under Bank rules, select Add rule: a Rule name, the Text to look for (* stands for any text, upper or lower case), the Direction, an Amount between range, a bank account (or All bank accounts), and an Action: Post as bank fee, Post as transfer or Match invoice receipt. Select Apply rules on a statement. The first rule that fits a line decides. A receipt is matched to an invoice only when the amount is exact and the line names the invoice number. Amount-only candidates appear under Suggested matches, where you choose Accept or Reject.
4. Reconcile
When every line is matched, the reconciliation panel shows Statement balance, Book balance and Difference. Select Reconcile statement and confirm. A statement reconciles when every line is matched, it ends at a month end, and the book balance equals its closing balance exactly. A reconciled statement is frozen and its lines cannot change.
Bank accounts, imports and rules are for owners and admins.