Release 2024-04-11
Bank reconciliation
Bank reconciliation is now supported in Business NXT. This feature helps you to reconcile your bank accounts correctly for a specific period until the final result of the whole flow results in the Bank reconciliation statement report.
You can clean up transactions before starting bank reconciliation for the first period.
The process for automatic reconciliation depends on a set of algorithms, which should result in only a limited part of the bank transactions being left for manual matching. Deviations between the bank and the accounting should be easy to detect if transactions in accounting are missing or posted at the wrong bank account or wrong period.
You define voucher series for bank reconciliation for fees and interest from the bank and connect a voucher type with correct general ledger accounts. When receiving the account statement transactions for bank fees and interest from AutoPay, a process is provided for creating, updating and reconciling corresponding voucher lines in the accounting in one go.
Bank account statements are automatically downloaded from AutoPay daily.
The following processes are available for the bank reconciliation feature:
| Table | Processing | Description |
|---|---|---|
| Account statement transaction/ General ledger transaction | Enable reconciliation | Includes bank transactions in reconciliation by assigning values to the Reconciliation rest amount fields. |
| Disable reconciliation | Omits bank transactions from reconciliation by setting their Reconciliation rest amount to 0. | |
| Manual reconciliation | Reconciles transactions that aren’t processed automatically by the algorithms specified in the Algorithm field in the Reconciled transaction table. | |
| Account statement transaction | Create voucher | Creates vouchers for transactions that are not electronically received from the bank, like interests and bank fees, and may be missing in the accounting even though they exist in the Account statement transaction table. |
| Reconciled transaction | Withdraw reconciliation | Unlinks incorrectly matched transactions that have not yet been approved. |
| Approved reconciliation | View document |
Displays an archived document for a Bank reconciliation statement report in the Bank partner table, that has been processed by selecting Finalise or Send (which means approved). Additional documents that have been migrated from Visma Business are available in the File data field. |
| Withdraw approved reconciliation |
Withdraws bank reconciliation statements, provided that the corresponding accounting period isn’t locked (its Reconciled per date value is newer than the Suspension date) and that it is the latest approved statement for that particular Bank partner no.. Afterwards, these reconciled transactions can be approved again. |
Bank reconciliation statement/approval of reconciled transactions
You can create a bank reconciliation statement report for all the bank transactions that are matched and reconciled for a certain period, by selecting Send in the context menu of the Bank partner table.
The connected rows in the General ledger transaction and Account statement transaction tables will then be locked for further processing.
Each time the approval is executed, a row will be created in the Approved reconciliation table. If you detect something wrong for an approved row of approved reconciliation, you can use the Withdraw approved reconciliation processing to reverse the status so they can be handled correctly.
The Bank reconciliation statement report will be stored as a pdf file in the relevant row in the Approved reconciliation table, and you can view and print it from there.
Opening menu items in a new tab
You can now open items in the application menu and user menu in a new browser tab by right-clicking on the menu item and selecting to open the link in a new tab or window using the regular browser context menu.
Removing companies
Under the Existing companies tab of the Company management screen, you can now remove Business NXT companies that you have access to, provided that you have administrator permissions.
A removed company becomes available under the Companies from Visma.net tab and can be migrated or created again. User access, roles and integrations must be managed separately through the Visma.net Admin interface.