Reconciliation

Overview

Thanks to Activities, you can easily report any kind of revenue or expense. However, creating activities that are not linked to any kind of explanation is prone to error and gives you no insights about your different accounts. This is why we feature a reconcilation system.

Transactions

The first step in the reconcilation process is to describe how the money moved from an Account to another inside an activity. Accounts are not only bank accounts, but generic buckets from and where the money can go. Especially, accounts are divided into several types: Bank accounts, Investment accounts, Cash, Liabilities, Revenue and Expense.

When you want to explain an activity, you can create multiple Transactions that explain a money movement between two accounts. For example:

• 28.99€ from my Bank account to Expense when you paid something at a restaurant.
• 30€ from my Bank account to Liabilities when you paid for someone.
• 1000€ from my Investment account to my Bank account when you get back money from an investment.

All those transaction will live inside the activity and explain it on an account level.

Activity amount check

The reconciliation engine will tell you something is off if the activity amount does not match what your transactions are describing.

• For Expense activities, the amount of the activity needs to be equal to the sum of the money going to an Expense account.
• For Revenues activities, the amount of the activity needs to be equal to the sum of the money coming from a Revenue account.
• For Investment activities, the amount of the activity needs to be equal to the sum of the money going to Investment accounts.
• For Neutral activities, the amount of the activity can be whatever you want.

This ensures that the amount of the activity has been rightfully justified from one or several transactions.

Create a transaction

In order to create a transaction, click on the plus button on the right of the transactions section inside an activity view. Fill then the account from the money is coming, the account where the money is going, and the amount. All fields are here necessary.

Modify the transaction amount

If a fix needs to be done on a transaction, you can directly click on the transaction amount and input a new one without the need to delete and recreate it.

Deleting a transaction

To delete a transaction, click on the three dots button on the right and click Delete. It will delete only the transaction and not any movement link, movement or activity.

Movements link

After transactions have been created, you can link Movements to your activity to add a second reconciliation. Not all accounts can provide movements, but for example a Bank account usually can.

You can link as much movements as you desire, and split a movement between multiple activities for some special cases.

Transactions amount check

The reconciliation engine will also compare the sum of movements for each account with the money movement expected from the transactions. For example:

• If you created a transaction of 20€ from your Bank account to Expense
  • The reconciliation expects a sum of movements equal to -20€ for the Bank account.
• If you add another transaction of 20€ from your Bank account to Liabilities
  • Then the reconciliation expects now a sum of movements equal to -40€ for the Bank account.

With this system, you can check that your bank statements correspond to what you describe as transactions, and therefore match the activities you created.

Create a movement link

In order to create a movement link, click on the plus button on the right of the movements section on the account section you want to link your movement from.

If at least a movement is found with the amount expected from the transactions (the sum described earlier), we will only propose them for linking. This can be disabled by clicking on the € (euro) button on the right. You can also use the search input to filter your movements.

Click on a movement to link it with this activity.

Modify the amount linked

For special cases, you may need to split a movement between activities. This can be done by clicking directly on the movement link amount on the right.

When inputing a different number than the movement initial amount, the initial amount of the movement will appear. You can reset the link to the amount of the movement by clicking on the menu on the right and then on Reset amount linked.

Deleting a movement link

To delete a movement link, click on the three dots button on the right and click Delete. It will delete only the movement link and not the movement it self nor any transaction or activity.