Pre-requisite:
Please ensure that your DBS account is already connected to Financio before the reconciliation process. If you haven’t already connected your DBS account to Financio, please read the guide here.
- Login to Financio.
- Go to Control Panel > Accounting > Balance Sheet Accounts.
- Click on the drop-down icon on the “Bank/Cash Equivalents” and find the DBS bank account in the “Bank/Cash Equivalents” list of accounts.
- Click on the drop-down arrow and select “Reconcile”.
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On the reconciliation page, make sure to verify the opening and closing balances.
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Take note that, if this is your first reconciliation, the opening date will be your financial starting date.
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If this is your second reconciliation, the opening date will be the next following date after the closing date.
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- View all the bank transactions on the left and Financio’s on the right.
- The transactions on the left are automated bank feeds from your DBS bank account. Financio will automatically match all the transactions found on your Financio account and your bank account based on date and amount.
Click on the “Request Bank Feed” button to retrieve the transaction history. - A “Request Bank Feed” popup screen will be shown. You may proceed to select or enter your preferred date range of transactions history to be retrieved in the “From Date” field and “To Date” field and click on the “Confirm” button.
*Important Note:
When requesting bank feed, user will be able to retrieve bank feed up to the past 14 calendar days, including the current date. - Proceed to key in the closing date and the reconciled balance will automatically be populated based on the matching transaction.
- In the "Bank Transactions" section, clicking the "Show Unmatch" button will show the number of successfully retrieved transaction history from your linked DBS account. It will also display a list of Financio's transactions in the "Financio Transactions" section.
- Finally, scroll down to the bottom of the page and check if the credit matches the debit amount before clicking on “Reconcile”.
View the video tutorial here.
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