Working With Payment Reconciliation Journals

You must regularly reconcile your bank, receivables and payables accounts by applying payments recorded in the bank to their related open (unpaid) invoices and credit memos or other open entries in Garage Hive. You can do this on the Payment Reconciliation Journal page, for example, by importing a bank statement file to register the payments quickly.
The following are the supported bank statement formats:
Bank Statements
Bank Statements (Cont’d)
- AIB Business
- HSBC
- AIB Personal
- ICON
- American Express
- Lloyds
- Bank of Ireland
- NatWest Bankline
- Barclaycard
- NatWest Online Banking
- Barclays
- PLEO
- HBOS
- Santander
- starling
- DEXT
- Generic
- Metro
- Monzo
- NetBank
If the bank statement format you need is not listed above, you can use the Generic method, to import your statement as follows:
    To import data using the Generic method, the file must be formatted with three specific columns: Date, Description, and Amount, and save it in CSV file format. Here is an example:
Date (dd/mm/yyyy)
Description
Amount (Positive - Money In, or Negative - Money Out)
01/03/2024
Customer Invoice #001 Payment
450
02/03/2024
Auto Parts Supply - Euro Car Parts
-200
03/03/2024
Utility Bill - Electricity
-120
04/03/2024
Sale of Used Car
5000
    After your bank statement file is prepared, search for the Payment Reconciliation Journal page and choose Custom Import Transactions followed by Generic.
    Once the import window pops up, choose your file to import it. The data will be imported automatically.

You can also reconcile bank accounts without simultaneously applying payments on the Bank Acc. Reconciliation page.The following is a list of tasks involved in working with payment reconciliation journals, alongside links to topics that describe them:

https://slite.com/api/public/notes/OuUrgRiLk_I1OO/redirect
Reconcile Payments that Cannot be Applied Automatically


See Also



Globe with Meridians English (UK, IE, IM and IZ). To find documentation in other regions where Garage Hive operates, click  here.