Connect Bank Accounts and Reconcile Transactions
Awditify’s Banking & Reconciliation tools help you connect bank accounts, import transactions, categorize bank activity, post transactions to the general ledger, and complete reconciliation from one organized workflow.
This feature is designed to reduce manual entry, improve accuracy, and help bookkeepers, accountants, and municipal finance teams keep bank records aligned with the general ledger.
What You Can Do
With Banking & Reconciliation, you can:
- Connect a bank account using online banking
- Select the bank account you want to import
- Link the bank account to an existing GL account
- Create a new GL account if needed
- View imported bank transactions
- Add transactions manually
- Import transactions from a file
- Categorize transactions
- Re-run transaction matching
- Post transactions to the general ledger
- Reconcile bank activity against your statement
- View reconciliation reports
Connect a Bank Account
To connect a bank account, go to:
Banking → Accounts
Then click Connect Bank Account.
Awditify will guide you through the bank connection process.
Step 1: Log In Using Online Banking
Choose your financial institution and log in using your online banking credentials.
This allows Awditify to access bank transaction activity so transactions can be imported into your account.
Step 2: Select the Bank Account
After logging in, select the bank account you want to connect.
This may be an operating account, chequing account, savings account, payroll account, or another bank account used for business or municipal activity.
Step 3: Select or Create a GL Account
Next, choose the general ledger account that should be connected to this bank account.
You can either:
- Select an existing GL account
- Create a new GL account
This GL account is where imported bank activity will be tracked inside Awditify.
Step 4: Complete the Connection
Review your selections and click Done.
Once the connection is complete, you can open the bank account detail page to view transactions and begin working with bank activity.
Bank Account Detail Page
After a bank account is connected, open the account from:
Banking → Accounts
The bank account detail page shows the connected bank account, current balance, transaction activity, and available banking actions.
From this page, you can:
- View total transactions
- See uncategorized transactions
- Review total spent
- Review total received
- Search transactions
- Filter by transaction type
- Add a transaction manually
- Import a file
- Re-run matching
- Open related documents
- Categorize transactions
Transaction Status Tabs
Bank transactions are organized by status so you can review and process them clearly.
Common transaction views include:
- Uncategorized — transactions that still need to be reviewed or assigned
- Ready to Post — transactions prepared for posting to the GL
- Review Matches — transactions that may match existing records
- Posted / Linked — transactions already posted or connected to records
- All — all bank transactions for the account
Use these tabs to move through the transaction review process efficiently.
Posting Bank Transactions to the GL
After bank transactions are imported, review each transaction before posting it.
For each transaction, confirm:
- Date
- Amount
- Payee or description
- Transaction type
- Correct GL account
- Supporting documents, if needed
- Any notes or details
Once the transaction is correct, post it to the general ledger.
Posting bank transactions keeps your accounting records updated based on actual bank activity.
Add or Import Transactions
If transactions do not appear automatically, you can still add them from the bank account detail page.
You can use:
- Add Transaction to enter a transaction manually
- Import File to upload transactions from a bank file or statement export
This is useful when you need to add missing activity, bring in older transactions, or work with accounts that are not connected for automatic imports.
Reconcile a Bank Account
To reconcile a bank account, go to:
Banking → Reconciliations
Open the reconciliation for the correct GL account.
The reconciliation page compares your bank statement information with the general ledger balance in Awditify.
Reconciliation Details
On the reconciliation page, you can review:
- Statement beginning balance
- Statement ending balance
- Statement ending date
- GL account balance
- Cleared balance
- Difference
- Checked transactions
- Reconciliation status
The goal is to match the cleared balance to the statement ending balance.
When the difference is $0.00, the reconciliation is balanced and can be completed.
Check Transactions From the Statement
In the reconciliation screen, check off the transactions that appear on your bank statement.
For each transaction, compare the bank statement against Awditify and confirm:
- Date
- Reference number
- Payee or description
- Payment amount
- Deposit amount
Only check transactions that actually appear on the bank statement.
Using AI Reconciliation
The AI Reconciliation option can help speed up the reconciliation process by assisting with transaction matching and review.
Use it as a support tool, but always review the results before finishing the reconciliation.
View the Reconciliation Report
Click View Report to review the reconciliation report.
The report helps you confirm the reconciliation details and keep a record of the completed reconciliation work.
Save or Finish the Reconciliation
If you are not ready to complete the reconciliation, click Save for Later.
When the reconciliation is correct and the difference is balanced, click Finish Now.
Finishing the reconciliation confirms that the bank statement and general ledger activity have been matched for the selected period.
Best Practices
To keep banking and reconciliation accurate:
- Connect the correct bank account
- Link each bank account to the correct GL account
- Review imported transactions regularly
- Categorize transactions before posting
- Confirm transaction details before posting to the GL
- Re-run matching when needed
- Reconcile accounts monthly or at each statement period
- Do not finish a reconciliation until the difference is balanced
- Use reports to keep a clear audit trail
Summary
Banking & Reconciliation in Awditify helps you connect bank accounts, import transactions, categorize activity, post transactions to the general ledger, and reconcile bank activity against statement balances.
Use Banking → Accounts to manage bank transactions.
Use Banking → Reconciliations to match statement activity with your GL balance and complete the reconciliation process.