🆕 New Reconciliation interface

🆕 Introduction

We developed a new reconciliation interface.

This means you won't reconcile from the bank tab or expected tab like before, but directly from this interface.

The goal of this new interface is to enhance your everyday experience on Agicap and help you reduce the time spent on this task.

This will also allow you to have updated forecast data in the short term and leverage our new Cash positioning module.

💡 Benefits from the new reconciliation interface

You have now a dedicated interface that offers a more user-friendly reconciliation experience:
- Visualization: On the same screen you have the list of paid transactions and expected transactions
- To-do list: by default, the bank transactions are filtered on non-reconciled transactions
- Finding the transactions to be reconciled is now easier: thanks to the search function, filters, and recap of selected transactions...
Once the reconciliation was performed:
- You can visualize the link with the previous invoice(s) (thanks to historical data)
- You can now cancel it if you made a mistake

How to access it?

You can access it with the new Reconciliation tab that appears on the top left of your screen.

Presentation

At the top you find all your reconciliation actions
On the left, you have the list of your bank transactions (coming from your bank connections or manual banks)
On the right, you have the list of your expected transactions (coming from your ERP or created manually)

Filters

You can filter both lists to be able to find the targeted transactions quickly:

Bank transactions: by default, it is filtered on non-reconciled transactions (to show you a to-do list of the transactions non dealt with yet). Then to organize your reconciliation work, you can filter by bank accounts, by category, or by status (not reconciled, reconciled and partially reconciled).
Expected transactions: You can filter by bank accounts and by category.

Search

You can search for any transaction by using the magnifying glass: by typing the transaction name or amount you are looking for.

Reconciliation

You reconcile a bank transaction:

With a single expected invoice

Or with multiple invoices
- Multi-selection
  You can use the selection button to select several invoices
  
  You can use the search bar or filters to find the transactions needed, and then select the transactions all at once.
- Reconciliation recap before finalizing
  You can access a recap of the selected transactions before finalizing the reconciliation
Reconciliation gap
If for some reason (some bank fees, a difference with the quote, or partial reconciliation...) the amount of the invoice is different from the bank transactions, you can decide whether or not you want to keep the gap.

If you choose to keep it, the amount of the expected transaction will be updated with the remaining to be paid. Transaction will be flagged as “Partially reconciled” and will still appear on the reconciliation page.

If you choose to ignore the remaining amount, expected amount will be fully removed from the forecast and the transaction will be flagged as “Reconciled”

Consult the link between reconciled and paid transactions

You can consult the different actions and reconciliations you performed, with the historical data directly attached to the bank transaction.

How? Click on the transaction, a side panel appears on the right, then you can click on the arrow and display the detailed reconciled transaction.

💡 Use the filters on reconciled transactions (and other criteria) if you are struggling to find the info you need.

Cancel a reconciliation

Did you make a mistake? No worries, you can cancel the reconciliation.

Go to the Bank tab
Find your transactions thanks to the filters or the search button
Click on the operation
In the side panel, cancel the reconciliation

Exclude paid transactions

Some bank transactions do not correspond to an expected: you do not need to reconcile them. The ‘Mark as reconciled’ function allows you to exclude them from your list of transactions to be reconciled.

- Select these bank transactions

- Click on the ‘Mark as reconciled’ button

- The bank transactions will disappear from the ‘To be reconciled’ view

- You will find them ‘Marked as reconciled’ in the ‘All transactions’ view in the reconciliation interface and on your Banking page.

- In the event of an error, you can cancel from the side panel of the transaction in the Bank page

Suggestions

The dedicated button "Suggestions" at the top right offers suggestions for reconciliation, when amounts match perfectly!

If several expected match the same paid transactions in the considered timeframe of 30 days, we will suggest to reconcile with the expected that has the closest payment date to the paid transaction
If it is not the right one, you can refuse it and click on Refresh to have a new suggestion of reconciliation for this paid transaction.

⚙️ What are the current limitations?

Currencies

⚠️ You cannot reconcile 2 different currencies between each other.

Reconciling an expected transaction and a bank transaction

Perform a multiple reconciliation

Perform a partial reconciliation

Automatic reconciliation suggestion

NEW - Reconciliation in Agicap Payments