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Running a Reconciliation in Indigo Business

Spot your missing transactions 🕵️‍♂️ and learn how to add and reconcile them for optimal management of your financial records

Written by Serena Santamaria

Table of Contents

Introduction

In this article, you’ll find the steps to run reconciliations smoothly in Indigo Business. We’ll focus on:

  • Creating a new reconciliation record

  • Matching statement lines with transactions

  • Adding missing transactions

Have your statements on hand and let’s start reconciling. 👇

Creating a New Reconciliation Record

To create a new reconciliation record:

  1. Go to Nominal > Reconciliations.
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  2. Select ➕ New Reconciliation at the top left of the Reconciliations screen.
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  3. The New Reconciliation pop-up window will open.

  4. Pick a nominal (A) or bank (B) account from the Nominal Account dropdown (1). The pop-up will change based on the selection.
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  5. Fill in the relevant fields according to the details in your statements (2).

  6. Select Continue to confirm your selection and be redirected to the Reconciliation (ID No) - [Account Name (Account Number)] page.

    • An orange In Progress tag is assigned next to the header.
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Now it's time to start comparing and matching the transactions with your statements.

Matching the Transactions

For this exercise, we recommend following the chronological order of your bank statement.

The posted transactions, dated between the last reconciliation date and the new reconciliation date, are displayed in a grid.

  1. Find the first transaction to be posted in your bank statement and look for the matching entry in the grid.

  2. When you find the matching entry, tick the checkbox under the Select column.

  3. Keep matching transactions in this way till the red Reconciliation difference (or Amount to reconcile) rectangle's value is zero and turns green.

    • Tip: In the Bank Reconciliation grid, look at the Statement Running Balance field at the bottom of the screen. It updates to show the balance at that point in time, matching the running balance on the corresponding statement line as you progress chronologically.
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  4. When you're ready, select Reconcile at the bottom right corner.

  5. A confirmation message will show asking if you're sure you want to reconcile the selected account. Select Reconcile to proceed.
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Adding Missing Transactions

What if a statement line hasn't a matching transaction in the system?

  1. Select the ➕ Add transactions button at the top left of the grid.

  2. Fill in and post a batch journal for the account you're reconciling (automatically selected in the Batch Account field).

  3. ⚠️ After creating the missing transaction, don't forget to select it in the reconciliation grid.
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The Result

You can see the completed reconciliation in Nominal > Reconciliations, where the system assigns a Reference ID and displays a green Reconciled label under the 'Status' column.
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Select the ID under the Reference column to open the reconciliation record. You'll land in the Reconciliation (ID No) - [Account Name (Account Number)] again.

Made a mistake? Learn how to reverse your reconciliation ➡️ here .

Alternative Path

You can also run a reconciliation from Nominal > Reconciliations > Dashboard:

  • Use ➕ New Reconciliation.
    Or;

  • Select the Start New button next to the desired account in the grid.

Related Articles

Reversing a Reconciliation in Indigo Business

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