Bank Feed/Bank Statement Reconciliation

Bank Feed Reconciliation:

1. Verify Bank Feed: This feature allows you to verify the bank feed for a specific banking account and month. The verification status can be either 'Verified' or 'Unverified'. If it is 'Verified', you will see a bank or credit card statement breakdown, including the Beginning Balance, Charges (Deposits), Payments (Withdrawals), and Ending Balance.

Refer to the below image :

If the transaction was made in the current month, it will show the amount and number of transactions in the first row. If it was made in the current month but was successful in the next month, it will also show the amount and number of transactions in the second row.

2. Once you have verified the Bank Feed, click the 'Acknowledge' button. This will open a dialogue box where you can fill in the necessary 'Note' and then click 'Confirm'.

3. After clicking the 'Confirm' button, the status of 'Acknowledge' will be updated to 'Acknowledged'. The color of the status will also change from blue to green, indicating that the item has been successfully acknowledged.

4. To revert the status from 'Acknowledged' to 'Acknowledge', you can easily click 'Acknowledged' and select the option 'Retract acknowledgement'.

5. The section labeled 'Transactions pushed to GL by Docyt' provides information on transactions pushed to the general ledger by Docyt. 

6. The section 'Resolve Uncategorized Transactions' provides information on transactions not categorized for the specified banking account and month. Once you have resolved these transactions, click the 'Acknowledge' button. In the dialogue box that appears, you can fill in any necessary 'Note' and then click 'Confirm'.

6. The section labeled 'Resolve Flagged Transactions' displays the amount of transactions that have been flagged for that specific banking account and month. Once you have resolved these transactions, click the 'Acknowledge' button. In the dialogue box that appears, please feel free to provide any necessary notes and then click 'Confirm'.

7. The 'Resolve Unmatched Transfers' section displays the amount of transfers that still need to be matched. After resolving these transactions, click the 'Acknowledge' button. In the dialogue box that appears, please feel free to provide any necessary notes before clicking 'Confirm'.