Lost with Bank Reconciliation

1

Help I am lost

I have entered the purchase invoices from my suppliers and I have entered the payment via View > Purchase Invoice and then Spend Money.

How does this payment marry up when I import my bank account statement.

I still have the payments in the imported bank account showing as in “suspense”

thanks
Johanne

2

If you enter payments from purchase invoices and also import your bank statement, you have double entries. One or the other must be deleted. If you plan to routinely import your bank statements, don’t enter the payments at all. After all the magic behind the curtain, imported bank statements end up as receipts and payments, just like manually entered ones.

1 Like
3

So if I only import my bank statements at the end of the month do I not enter that payment on sales.

Doesnt that leave me with a lot of outstanding invoices until I import the bank statement.

Conversly if I enter the receipts as the customers pay (usually same date as the sale) then how do I manage the entry that gets imported when I do the import bank statement at the end of the month to do the reconcilliation,

Sorry a bit confused.

4

Correct.

Also correct.

Delete it.

But understand two things:

  1. You either enter receipts and payments as they are made or you import the statement. You do not do both. If you want to be current, enter the receipts and payments. If you want to avoid making the entries, import the statement and live with your books being out of date between imports. It’s entirely up to you.

  2. There is no requirement to import a statement, ever. You can still do reconciliations.

5

Great that solve that problem thank you. Easier I think to enter the receipts as I go.
Thanks for your help