Review Bank Transactions
Banking > Review transactions is where imported transactions become entries in your books. For each one you choose what it was for; then you transfer the ready ones.
| Menu | Banking > Review transactions |
| Permission | View bank transactions and bank rules (to see them); Import, categorize and transfer bank transactions, and keep the bank rules (to change them) |
| Feature | Banking |
What you see depends on your role. If the menu, a button or a setting on this page is missing, ask your administrator to give you the permission listed above or to turn on the feature. Only administrators can turn features on and change site settings.
Find transactions
Choose the Bank account, the Dates and the words the Description contains, and select Show. The tabs show To review, Categorized, Transferred and Excluded transactions, with their counts. Opening an import from Banking > Imports shows only its transactions.
Categorize
For each transaction, choose in For what it was:
| Money | Usual choices |
|---|---|
| Spent | A purchase category, such as Grocery; an expense account, such as Utilities or Bank Fees; Accounts Payable when it pays a vendor's bill you entered on account; a loan or the owner's draw |
| Received | Undeposited Funds for the deposit of the day's cash and checks; a sales category; an income account; a loan |
Optionally choose the Vendor or customer and enter a Memo, then select Save. Categorized transactions move to the Categorized tab. A transaction cannot be for the bank's own account, and a sales category cannot be used for money spent (nor a purchase category for money received).
Transactions a bank rule categorized show the rule's name. Your own choice always wins over the rules.
Exclude
Some transactions are not for the books, such as a transfer between your own accounts (it appears in both statements) or a card payment from checking when the card is not in Al-Mohaseb. Select them and choose Exclude selected. Back to review brings them back.
Transfer to the books
Select the categorized transactions (the box in the header selects all) and choose Transfer selected to the books. Each one becomes a journal entry: money spent debits what it was for and credits the bank's ledger account; money received the other way round.
Possible duplicates
When money spent has the same amount as a bill or a vendor payment dated within 14 days, it may already be in the books. It is not transferred; it is shown highlighted with the matching entry. Then:
- if it is the same purchase, leave it or Exclude it;
- if it is a different one, keep it selected and choose Transfer the selected anyway.
A payment of a bill entered on account belongs to Accounts Payable, not to the expense again.
Undo a transfer
Select transferred transactions and choose Undo transfer: their entries are reversed and they are categorized again, ready to change. A transaction dated in a closed period cannot be transferred or undone.
Make a rule from transactions
Select one or more transactions that should always be categorized the same way and choose Make a rule from selected. The rule proposes the words they have in common. See Bank rules.
See also Bank accounts and statements.