How To: Match, Create and Reconcile Payments in Bank Accounts by Importing .csv Files

How To: Match, Create and Reconcile Payments in Bank Accounts by Importing .csv Files

Overview

The bank importer is used to import files which have been exported from your online banking system. Imported transactions can then create payments or journals and attempt allocations.

You can reconcile bank accounts by importing .csv files supplied by the bank/payment provider, which are then matched to the transactions recorded in Khaos Control.
Note: This functionality is currently available for the following bank accounts;

1.      Barclays

2.      Natwest

3.      Paypal

4.      Lloyds

5.      Klarna

6.      American Express

7.      Santander

8.      Brain Tree

Prerequisites

1. The .csv file must contain the following headings (although this also depends on the bank the import is for):
• Number
• Date: used for matching the transactions.
• Account: either positive or negative depending on whether it is a debit or credit. This is used for matching the transactions.
• Subcategory
• Memo
2. The file must be saved as a .csv file and easily located.

Process

1. Type BX into the command window and press Enter.
1. Press Ctrl+N or click . (This is found in the Menu Bar at the top of the screen).
2. In the New Import popup:
3. Select the bank account in Khaos Control that the reconciliation is for.
4. Select the type of file to be mapped: 
   
   
5. Click OK.

2. Update the following as appropriate.
1. Description
2. Swap Debit/Credit signs

3. Setup Bank Imports.
1. Goto [Details | Matching Setup]
2. Press the new button to add a new Setup Action
3. Add the description for the Matching String
4. Assign a Nominal
5. Repeat 2, 3 and 4 until you have completed the matching.

4. Importing Transactions.

1.      Click on the button.

2. Select Import Transactions.
3. Navigate to and select the downloaded .csv file from the bank.
4. Click Open, the information contained in the file will populate the upper grid.

5. Match a Bank Import

1.      Click on the button.

2. Select Match.
3. The system will attempt to match payments from the bank transactions grid in Khaos Control to payments that exist in the bank import file.
4. If successful, the transaction liners will have a yellow background. Right click | Colour Legend to check status.

6. Create Transactions

1.      Click on the button.

2. Select Create Transactions.
3. Select yes and continue.
4. The unreconciled transactions will have been created.

             7.       Reconciliation

1.      Green select all the unreconciled Imported Bank Transaction lines 

2.      Click on the button.

3.      Select Reconcile Transactions

4.      Enter the Statement Balance for the Imported statement.

5.      Set the Start and End page numbers (set both to 1 if there is only a single page worth of transactions)

6.      Recon Date can be changed if required as well as an optional short not for the description.

7.      Press OK

8.      Confirm Reconciliation matches and continue.

9.      The screen will save, and the Recon Status updated.

10.  Close the screen, those reconciled entries can be seen in the [ Bank Account ]screen, see How To: View a previous reconciliation.