Receipting and Reconciling

As well as this written help article, we've put together a training video of the new Receipt and Reconcile Workflow where Amy, our product trainer, talks through the process visually.

Before importing your first bank statement using the new receipt and reconcile workflow, it's important to check the new setting in Company Settings > Accounting > Reconciliation & Allocation which controls how auto allocation on tenancy ledgers works. For more information, see this help article.

After importing a statement, you'll be directed to the Reconcile page where you will be reconciling and receipting transactions from your bank into Street. You can also navigate to the Reconcile page by clicking Bank Accounts on the left side panel under the Accounting tab and then selecting Reconcile. If you have multiple bank accounts setup, it's important to ensure you click reconcile on the correct account.

Street automatically reads and categorises the transactions from your statement into different types. These transaction categories are displayed at the top of the reconcile page as a series of filterable tiles, allowing you to easily view and manage specific transaction types and will remain there until reconciled.

The first time you import a bank statement into Street, you won't see any linked payments (as you haven't setup any Matching Rules) and will most likely see a combination of Suggested Matches and No Matches. On subsequent imports, you should also expect to see Linked Payments.

Below these category tiles you will see the list of transactions which can be filtered and are searchable. The aim is here to work through each transaction and ensure they are all correctly reconciled (and receipted where applicable) with Street.

Unreconciled Transactions refers to the total number of unreconciled bank transactions on the reconcile page, and will be a total of Linked, Suggested, Attention and No Matches.

Linked Payment refers to the number of bank transactions that meet the criteria on an existing matching rule and will be displayed in green in the transaction list.

In these case, the system has detected the corresponding linked ledger and allows you to quickly reconcile that payment. There is also a Bulk Reconcile button at the bottom right of the page which allows you to reconcile all linked payments with one click.

It's important to remember that reconciling a linked payment will both receipt that money onto the ledger and reconcile it.

For more information on how linked payments work, see our What is a Linked Payment help article.

Suggested Matches refers to the number of bank transactions that are identical to an existing transaction in Street, based on the date, amount, description, reference and/or payee and will be displayed in blue in the transaction list.

In these cases, the system has already done a search for you and found what it thinks is the corresponding transaction in Street so you can quickly reconcile, just like linked payments. If however that transaction isn't right, you can click the 'not a match? click here' option to manually reconcile.

For more information, see our What is a Suggested Match help article.

Attention Transactions refers to the number of bank transactions that meet the criteria of multiple matching rules and will show in orange.

In these cases, the system is trying to link the payment but due to the conflicting matching rules, it cannot determine which ledger to link to. Ideally you shouldn't see any attention transactions as it indicates that matching rules have not been setup correctly and you will therefore need to manually review the rules to fix the issues.

For more information, see our What are Attention Matches help article.

No Matches refers to the number of bank transactions that do not match an existing transaction in Street and are not currently setup as a linked payment. These transactions will need to be manually reconciled and the options depend on whether it's an incoming or an outgoing transaction.

If the transaction is incoming, you can then either link the payment by setting up a new match rule, search for an existing transaction manually, add the transaction to the suspense account (useful if you don't know what the money relates to) or split the payment.

If the transaction is outgoing, in most cases it should show as a suggested match however if not, you will see the options for find transaction / find batch payment. In this case, you will need to manually search for the transaction in the list of transactions in Street and click reconcile on the correct transaction.

For more information on how to reconcile a No Match transaction, see our What is No Matches Found help article.

In some cases you may need to delete an imported bank transaction, for example a duplicate. In this case, click the 'options' dropdown and click 'delete statement' line.

When you have finished reconciling all of your imported bank transactions, you can move onto Allocate Funds and determine how to allocate money on owner ledgers.