Find out more about reconciliation here.
Go to Banking in your navigation bar
In order to perform reconciliation, you will first need to add your bank in Holded. Learn how here.
Reconciling wire transfers
Reconciling by changing the wire transfer status to completed
- Select the Wire transfers option in the drop-down menu
- Access the wire transfer you want to reconcile
- In the modal that will open, look at the General section on the right-hand side
- In the Status line, the Pending option will be displayed
- Open this drop-down and select Completed
When the wire transfer is marked as completed, all the documents included in such wire transfer become paid. In fact, payment is added to each invoice for the amount remitted, and with the bank indicated in the wire transfer.
- Go to Banking > Banks from the navigation bar
- Enter the bank account where the payment or collection of this wire transfer is reflected
- Click Go to Reconciliation
- Select the transaction in the bank statement
- In the section that will open on the right, click on the arrow on the Reconcile button
- Click on the Mark as reconciled option
- Confirm the action
When the wire transfer is moved to the completed status, the payment or collection added to the document generates an entry in the general ledger, which allows it to be correctly recorded in accounting.
Reconciling against a wire transfer from banks
- Select the Banks option in the drop-down menu
- Choose the account in which you have received the payment or collection
- Click Go to Reconciliation
- Click on the transaction in the statement that reflects the payment or collection of the wire transfer
Collection wire transfers will have a positive sign, while payment ones will have a negative sign.
- Go to the section that will appear on the right-hand side
- Use the drop-down menu to filter by Wire transfers
To avoid problems when reconciling a transaction against a wire transfer it is important that when you create the invoice you do not hit collect, and that you leave the status of the wire transfer as pending.
In case you first mark a wire transfer as completed and then reconcile it, the collection will be done twice.
- Select the corresponding wire transfer
The amount of the transaction in the statement must match the total of the wire transfer. Otherwise, the wire transfer will be partially reconciled.
- Check that in Left to reconcile, in the lower section, the amount is 0 euros
- Click on Reconcile
When the reconciliation is done, the wire transfer status will change to completed. The documents included in the wire transfer will be considered as paid, and the payment or collection will be recorded in the accounting with its corresponding entry.
You can use the option Reconciled from the drop-down menu within the Bank statement lines and click on a specific transaction to check against which documents it has been reconciled. These will appear on the right, from where you can access the document to see more details about it.