Bank reconciliation

Bank reconciliation matches each bank record to a transaction in VRTrust: a deposit, an expense, a payout or a transfer. A bank account is reconciled when no bank record is unmatched and the VRTrust balance equals the bank balance.

Open an account

On Bank Reconciliation, click Reconcile items on the account card. The account has three tabs:

• Reconciliation: unmatched bank records on the left, the matching VRTrust transactions on the right.
• Bank feed: every bank record with the running balance. Filter by amount, status (matched, unmatched, excluded) or source.
• Transactions: the VRTrust transactions of the account, including those not matched yet.

Match bank records

• Suggested matches: VRTrust suggests the transaction that fits. Click Match on one, or Accept all matches for all of them. Match selected matches only the records you keep checked.
• Several transactions for one record: click Find next to the bank record, search by name and select transactions until the running total equals the bank record. Then match them.
• No transaction yet: click Create next to the bank record and choose Deposit, Expense or Bank Transfer. Fill in the lines until the remaining amount at the bottom is zero.

A transaction must exist in VRTrust before it can be matched. Deposits from connected processors are created for you. When one has no suggested match, check that the connection on Connections shows a green check mark, then fetch the missing dates, see Fetch data again.

Owner payouts are created from the owner statement, not with Create > Bank Transfer. See Pay owners.

The Non-Reservation tag marks deposits not applied to a reservation. Click it to open and check the deposit before you match.

Undo a match

After a match, Undo replaces the match button. After Accept all matches, Undo all reverts that whole action. Undo removes the match only and deletes nothing.

On the Bank feed tab you can also select records and Unmatch them, or include or exclude them from reconciliation. Exclude duplicates and records that do not belong in the account.

Bank rules

A bank rule creates and matches a transaction for every new bank record that fits its conditions, such as a recurring cleaning payment.

1. Click Create next to a bank record and choose Bank Rule, or open the Bank Rules tab and click Add Rule.
2. Name the rule and choose the bank accounts it applies to.
3. Turn on Automatically create and match transactions to let it act alone. Off, it only suggests matches.
4. Choose whether it creates an expense or a deposit, and add conditions on the description or the amount.
5. Add the allocation: account, listing, bill to and an amount or a percentage. Percentages must add up to 100.
6. Save. A preview shows existing bank records that fit. Click Accept to apply the rule to them.

Filter the Bank feed by the source Bank rule to see what rules matched. Edit or delete rules on the Bank Rules tab.

Import bank records from CSV

For banks without a Plaid connection:

1. Open the account card menu and select Add Bank Records.
2. Download the template. Enter the date, the description and the amount of each record: deposits positive, payments negative.
3. Select the date format you used and upload the file.
4. Check the records on the Bank feed tab. Exclude duplicates.

To delete an imported record, open its menu on the Bank feed tab and select Delete. Matched records cannot be deleted.

Finish the reconciliation

1. Sort the unmatched records by date or amount and work through them until none are left.
2. Compare the ending balance of your bank statement with the running balance on the Bank feed tab.
3. If they differ, check the opening balance first, then look for missing or duplicate bank records.
4. On the Transactions tab, review transactions that are still unmatched. Correct, delete or move them to the right period.

Export on the Bank feed and Transactions tabs downloads the records as CSV.