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Checks to do before uploading and matching statements

For those current users that have been reconciling the bank transactions the old manual way, please read through this short guide

As a current user of Clever Accounts (pre bank statement upload), you will have been reconciling bank transaction by checking against your bank statement and matching against those that you have entered onto the software.

Since the new upload statement module has been released, the need to manually reconcile transactions has gone as the reconciliation is done at the same time as creating a transaction from the statement entry.

However, before uploading statements, it's best to make sure you have completed these brief steps.

Enter all transactions to a cut off date

You should pick a change over date for when you want to start uploading bank statements to Clever Accounts. This is to ensure that the change over is smooth and you do not duplicate, or miss, transactions.

Reconcile all outstanding transactions

Once you have entered all bank transactions to the date you want to change to the new feature, make sure that all transactions are reconciled against the bank account.

Again, you do not want to duplicate or miss transactions. However, you also want to ensure that the reconciled balance on the bank account matches the balance from the opening balance on the first import.

If the two differ, then the bank will also be out of balance.

Make sure all bank accounts are added

You may have opted not to enter all bank accounts onto Clever Accounts and possibly used the one bank account as a "catch all" account.

Either way, you'd want to ensure all bank accounts are created so that matching transfers is easier and checking the closing bank balance is clearer.

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