Match bank transactions

When OnBalance imports bank transactions, it automatically opens the Match screen showing all imported transactions. In this screen, you can match OnBalance transactions with your bank transactions.

Note: You can also open the Match screen at any time by clicking a financial account in the Bank Reconciliation screen.

The match process

When you click the Match button for a transaction, OnBalance will prompt you to confirm the match and compare the bank transaction and the OnBalance transaction amounts.

  • If the OnBalance and the bank transaction amounts are the same, OnBalance will establish the match and apply payments, if necessary.
  • If the OnBalance amount is greater than the bank transaction amount, OnBalance will add the difference as interest to all selected installments to be paid, establishing the match.
  • If the OnBalance amount is lower than the bank transaction amount, OnBalance will prompt you to do one of the following:
    • Add the difference as Discounts in the selected installments to be paid, establishing the match. 
    • Create a new outstanding installment with the difference as amount, considering that the bank transaction was a partial payment.
Once a bank transaction has been matched, it is deleted from the application.

Notes

  • If you click the Cancel button, OnBalance deletes all selected OnBalance transactions and lets you start the bank transaction match process over again.
  • You cannot see the bank transactions in OnBalance after matching them. If you matched transactions by mistake, you will need to adjust the OnBalance data manually by deleting eventual applied payments or created documents and proceeding with the right actions through other screens.

For each of the bank transactions, OnBalance looks for at least one OnBalance transaction to represent it.

  • If OnBalance finds only a single transaction that can be matched with a bank transaction, the transaction appears on the right side of the screen with two buttons: Match and Cancel. 
  • If OnBalance finds more than one transaction that can be matched with a bank transaction, you will be prompted to select a transaction. Click the More link, which opens a list of the OnBalance transactions for you to choose from. After you choose a transaction, OnBalance displays the Match and Cancel buttons.
  • If OnBalance doesn't find any OnBalance transaction to match with the bank transaction, it will display the message No matches found.

Incorrect matches

If OnBalance doesn't find the correct transactions to be match, or if the transactions OnBalance finds are not the right ones, you can do the following:

Multiple matches

If you want to match two or more OnBalance transactions with a single bank transaction, you have two options:

  • Search for other OnBalance transactions and select two or more OnBalance transactions.
  • Select the first OnBalance transaction and click the Add OnBalance Transaction link, where you can either select another OnBalance transaction or create a new transaction.

Disregard matches

If you don't want to match a bank transaction with an OnBalance transaction for any reason, you can click Disregard this bank transaction. Once you disregard a bank transaction, it will no longer be considered a pending transaction match.

If you ever want to see a list of disregarded bank transactions, use the filters at the top of the Match screen. You can also undo this decision by clicking the Reconsider link.

When you close the Match screen, all transactions that you did not match or disregard will be considered pending transactions.

The availability of some or all of these features depends on your version of OnBalance.