Reconcile bank transactions with invoices

Goal

Load your bank statement into 4fleet and confirm, line by line, which invoice each incoming payment pays. 4fleet suggests matches, but nothing is booked and no invoice is marked paid until a person approves it.

Prerequisites

• Your plan includes bank reconciliation. Without it the Reconciliation tab is not shown.
• You can import a statement (right to create payments) and approve matches (right to edit payments). Owners and admins can by default.
• You have a statement file in CSV, MT940 or PDF format.- The invoices you expect to be paid are issued, so they can receive a payment.

Steps

1. Open Accounting, select Payments, then open the Reconciliation tab.
2. Select Import statement and choose the file. The accepted types are .csv, .txt, .sta, .mt940 and .pdf.
3. Wait for the Statement imported message. It tells you how many lines were imported.
4. In the To match view, read each line. A suggestion reads like "Likely" followed by an invoice number and a percentage.
5. Select Review on a line. The Review bank line window shows the date, amount, description and where the line was read from.
6. Under Possible matches, choose the invoice. If the right one is not listed, select Choose another invoice and search by invoice number or client.
7. Read the sentence that says what will be recorded, for example how much is recorded against which invoice and whether the rest stays due.
8. Select Approve match.
9. To undo a wrong match, open the Matched view, select Reverse on the line, type a reason of at least three characters, and select Reverse match.

Expected result

An approved match records a payment against the invoice. If it covers the amount due, the invoice becomes Paid; otherwise the rest stays due. The line moves to Matched and stays there with who approved it and when. A reversal keeps the payment on record as reversed, the invoice owes the money again, and the line returns to To match.

Troubleshooting

• If a line shows Possible duplicate, another imported line has the same date, amount and text. Tick that this is a separate payment before you can approve it.
• If a line shows Check: read by AI, the statement format was unusual and the line was read by AI. Check the amount and date before approving.
• If Approve match is greyed out, the amount is more than the invoice still owes, no invoice is chosen, or your role cannot edit payments. Pick another invoice or approve a smaller payment.
• If the invoice is in another currency, the window asks you to confirm the exchange rate first. Select Confirm rate and approve.
• If a line says "Money out", it is a payment you made. It is settled in payables and is not matched here.
• If the import says the format was not recognized, export the statement as CSV with a date, a description and an amount, and try again.
• If you cannot delete a line, reverse the match first. Only unmatched lines can be deleted, and that needs the right to delete payments.