Recording transactions through bank feeds
When you import bank transactions into Bokio (either manually or with bank feeds), Bokio will suggest matching these bank transactions against existing supplier and customer invoices as well as manual payments (journal entries that involve bank transactions) you have already recorded.
Matching against recorded transactions (journal entries)
When importing bank transactions, all transactions are listed under To do now in the Things to do page. If a bank transaction has already been recorded manually, Bokio will be able to match this manually recorded payment (journal entry) to the imported bank transaction by clicking on Match payment.
As the transaction had already been recorded there is no journal entry to be recorded in this step. However, the imported bank transaction now disappears from your Things to do and this will link the imported transaction to the journal entry. You can see this by going to Bank feeds on your menu on the left hand side, then clicking on the related account. The image below shows that this specific transaction is linked to the journal entry V1.
For the automatic matching process to work the date of the imported bank transaction must have a date that is within 5 days either before or after the journal entry that has been recorded.
Match supplier and customer invoices
We also suggest matches between both supplier and customer invoices with imported bank transactions. We will suggest matches when the invoice amount has the same amount or is within 5% of the imported bank transaction, but only when the bank transaction date is between the invoice date and 7 days after the due date. If it doesn’t fit within this range you can find out how to manually match transactions in this guide.
We will suggest the match in two places within the Things to do page, firstly in the list of bank transactions under bank feeds which matches the bank transaction the invoice:
Then we also display the matches under Things to pay (supplier invoices) and Get paid for (customer invoices) lower down the page. This matches the supplier invoice to the actual bank line.
The payment of the supplier or customer invoice is then recorded automatically. As soon as you match the payment in one of the places mentioned above it will then remove from the other section in the Things to do page. For example, if you match a payment under Things to pay it is also removed from the Bank feed page.
If we suggest a match that isn’t correct, then you can use our manual matching to find the correct match. To do this, click on Change as shown below.
You will then have the option to choose one of our suggested matches, or you have can load earlier or later potential matches as shown below. In this view, we will show all supplier invoices and customer invoices, but only payments that are for the same amount. Click on Match payment to remove these from the Things to do list.
The same applies if we do not find a match at all. You can access the manual matching by clicking “...” and then click on Match manually. This is useful for part payment of invoices and timing differences on payments.
The same then applies you will have the option to load earlier or later matches.
If Bokio suggests multiple matches based on the logic we have mentioned above you then have the option to click Choose one and then select the correct match.
You can then click on the match that you think is correct or choose Load more.
If there is no match for a bank line
If an imported bank transaction shows no possible matches and there is no transaction to manually match against, you can record transactions directly from the Things to do page. Click Record on the imported bank transaction. Alternatively, if a match is suggested but this is incorrect and you want to record the transaction on the Things to do page you can click on “…” and then Disable matching.
You will then get the option to record via the Record button.
You then get the choice to take or upload an image or PDF. In addition, there is also the option to Select uploaded receipt. Here, you can directly choose one of the documents that have already been uploaded in Bokio that have not yet been recorded.
Choose the invoice or receipt that matches the payment from your uploaded documents. Click Select and then attach the payment to the receipt and record the payment.