Configuring bank statement import settings
Continia Banking simplifies the process of importing your bank account statements, whether through uploading files or direct bank communication. After import, Continia Banking converts the bank’s file format to display all the information needed for reconciliation.
On the Banking Import Setup page, you can customize automatic matching of entries, define tolerances for payment proposal variations, and configure essential details to ensure accurate reconciliation. By default, the most relevant settings are preconfigured.
To support reconciliation of bank account ledger entries without existing entries, you can link a Cash Receipt, General, or Payment Journal to the Bank Account Reconciliation. This setup ensures that unmatched payment proposals generate journal lines in the journal dedicated to reconciliation. This allows you to stay on the Bank Account Reconciliation page and post entries elsewhere before continuing.
To configure bank statement import settings:
Search () for and select Banking Import Setup.
On the Import FastTab, in the Default Statement Description Template field, you can set the default field to be used as the statement description and transaction text when importing bank transactions. This helps handle blank descriptions by prioritizing fields such as the first line of additional information.
On the Matching FastTab, you can configure the following fields (click Show More if you don’t see all fields):
On the Amount Difference FastTab, you can edit the following settings:
The default journals for Bank Account Reconciliation are automatically set up upon activation of Continia Banking. You can customize the following settings on the Bank Account Reconciliation FastTab:
On the Payment Reconciliation FastTab, you can turn on Post Sum per Posting Date. This setting applies only to Payment Reconciliation Journals and combines all transactions for the same posting date into a single balance account entry. As a result of this aggregation, some limitations apply:
- Same document number - all entries share the same document number in the accounting records. This simplifies the tracking process but may limit detailed documentation for individual transactions.
- Limited dimension support - detailed dimensions (extra categorizations of transactions, such as departments or projects) can't be fully supported in this consolidated balance account entry. The system won't capture this detailed information due to the summarization of entries.
- Rounding differences - when dealing with foreign currencies, where exchange rates fluctuate, rounding differences may occur. These discrepancies might happen during the consolidation process due to the system rounding off amounts to simplify the entries.
- Post Multiple Applications as one sum Entry - allows you to handle multiple applications for the same account as one summarized entry during payment reconciliations when posted. See Posting multiple applications as one sum entry.
On the Payment Reconciliation FastTab, you can turn on Post Sum per Payment Batch. This setting applies only to Payment Reconciliation Journals. When it's on, posting the journal creates one bank account entry per payment batch and posting date instead of one per line. You can't use this setting together with Post Sum per Posting Date: turning one on turns the other off. Before you can see this field, you must enable the feature on the Continia Feature Management page. For more information, see Handling payment batches in CAMT.054 files.
On the Payment Reconciliation FastTab, the Import Lines field allows you to filter lines within CAMT.054 Payments by transaction type: All, Credit, or Debit. These filtering options can be configured on the Banking Import Setup page or directly on individual Bank Account cards, giving you flexibility in selecting which transactions to import.
On the Direct Debit Return FastTab, you can configure how the system should respond to return direct debits. The following fields are available: