Bank reconciliation

Load your bank transactions into the bank reconciliation. Not only to reconcile the bank transactions you have already posted but also to avoid tedious data entry when posting to the bank.

Import your bank transactions into Xena to reconcile them against your posted entries – and transfer unposted bank transactions directly to the ledger for quick posting.

The bank reconciliation has two functions:

• Reconciliation of the bank against already posted entries in Xena

• Transfer of unposted bank transactions to the ledger for quick posting

You should be as up to date as possible with invoicing and voucher registration before you perform your bank reconciliation.

You can have bank transactions fetched automatically on an ongoing basis by setting up an integration with your bank.
➡️ Import Bank Transactions

Alternatively, you can export a file from your bank and import it manually. Read more below.

Exporting from your bank

All banks have a function to export bank transactions to a file (typically CSV format). You will usually find the function where you view your account transactions. Ask your bank if you are unsure.

Save the file to your local computer.

It is recommended to export transactions up to and including yesterday, as today's transactions are preliminary and may change. Xena ensures that the same bank transactions are not imported twice. If you are unsure how much you have previously exported, it is better to include too many transactions than too few.

Importing into Xena

1. Open Ledger > Reconciliation, and select the Bank Reconciliation tab

2. Select your bank account and click Create (this only needs to be done once per bank account)

3. Click Import from file at the bottom of the screen

4. Select the file format that matches your bank file. Since many banks use the same formats, you choose from a fixed set of defined formats rather than a specific bank

5. Select the file from your bank, and verify that the preview looks correct

6. Click Import

The first time after the update, you need to select the correct format. After that, Xena will automatically suggest the same choice next time.

Step 1: Reconciliation

Once the import is complete, the imported bank transactions are displayed on the left side, and your posted financial entries on the right side.

Select entries

When you select a line on either the left or right side, the matching entries on the opposite side are highlighted with a colour. The darker the colour, the higher the likelihood of a correct match.

You can also click Show suggestions to see a consolidated list of entries that match the selected one.

If you are unsure whether you have matched the correct entries, you can open the financial document by clicking on the document number. You can open the link in a new tab by holding down the Ctrl key while clicking.
➡️ Learn more about keyboard shortcuts

Save reconciliation

At the bottom, the difference between the selected entries is displayed continuously.

You can reconcile multiple entries at once – up to 50 at a time. When the selected entries are reconciled, a checkmark is displayed. Click the save icon to save the reconciliation.

Undo reconciliation

If you want to undo a reconciliation, select Show reconciled at the top.

1. Click Show next to the entry you want to undo

2. Click Delete reconciliation in the dialog box

3. The entries can now be reconciled again

Step 2: Transfer bank transactions to the ledger

Once you have finished reconciling, there may be bank transactions remaining that you have not yet posted. You can transfer them to the ledger and save time on data entry.

1. Select the bank transactions you want to transfer

2. Click Move selected bank entries to ledger

3. Select the ledger the lines should be transferred to

4. Click Transfer and go to ledger

Step 3: Post bank transactions in the ledger

The ledger opens automatically, but you need to select the ledger you transferred the lines to. All selected bank transactions are displayed here, ready for account assignment and posting.

When you post the ledger, the bank transactions are automatically marked as reconciled. If you delete a line in the ledger, it is automatically returned to the bank reconciliation.

Tip: To find the correct partner (customer or supplier) for a payment, select the type Partner Payment and enter the amount in the partner field. The partners with an entry or balance matching the amount will then be displayed.

You can also search by name and invoice number in the partner field.
➡️ Learn more about the ledger

Delete imported bank transactions

If you want to delete bank transactions that have been imported into Xena, first set the date interval at the top so you only see the transactions you want to delete.

1. Click Delete unreconciled entries

2. Confirm that you want to delete the bank transactions

If you use a payment terminal and have difficulty reconciling your card payments, this guide can help:
➡️ Reconciliation of settlements from payment solutions

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