Bank statement posting defaults

 

Procountor forms accounting entries for bank statements automatically according to the transactions. Procountor has a group of posting defaults ready to be used. However, posting defaults can be edited and defined to fit specific circumstances. Posting defaults of bank statements are used to remove manual work: repeated and simple transactions can be posted automatically by pre-set rules.

This article focuses on the Bank statement posting defaults view and its functions. More detailed, practical examples about using bank statement posting defaults with for example American Express / Nets / Diners Club transactions or loan payments can be found here.

Bank statement posting defaults can be set in Management > Accounting info > Posting defaults > Bank statement posting defaults.

 

View description

 

Bank statement posting defaults section

This section is used to set user organization’s own posting defaults. The section has the following buttons:

• Save button (in the top bar) saves the changes made in Bank statement posting defaults view.
• Add row button adds a new row among the editable rows.
• Delete row button deletes the active row.
• Change bookkeeping account opens a new window that is used to change the bookkeeping account of the active row.
• Posting by message button opens a new window that can be used to set posting defaults based on the messages on bank statement transactions. A more detailed look to this function is available under its own heading.
• Dimensions button takes the user to Dimensions view that can be used to set dimensions to the posting defaults.
• HTML button opens a summary of posting defaults to a new tab in HTML format.

 

Default postings section

It is possible to add own default postings to following transactions:

The last section in the view includes 38 default postings of Procountor that are used to make accounting entries for bank statement transactions. The rules are based on entry descriptions, tax account transactions and payments of self-assessed taxes. Procountor defaults can be edited through the pen icons and through the i-button next to the Default postings heading (some of these default postings are changed through Default postings for reference payments and through Default posting for taxes).

 

Setting up posting defaults

Freely specifiable posting defaults can be set in the Bank statement posting defaults section. Rules can be created for a certain bank account or for all bank accounts that the organization uses. Posting rules can be set for example with entry descriptions, messages or recipients/payers.

When a new row is created for a new posting rule, posting settings can be edited with the following column information within the row:

• Order no.: Posting rules are numbered automatically when they are saved. Order number determines in which order the posting rules with same entry description are processed. After saving, the order can be changed by clicking mouse’s right button and choosing Move up or Move down. If there are multiple posting rules for one entry description, the rules with recipient’s/payer’s name as definer should be saved with a lower number compared to rules with only entry description as definer.
• Rule name: Voluntary name for the rule, can be left empty.
• Entry description: This selection defines the entry description that is edited compared to the Procountor defaults. Every posting rule must have an entry description.
• Withdraw/Deposit: This selection determines if the transaction is a withdraw or a deposit. With some entry descriptions, this information can’t be changed. This field is obligatory.
• Account no.: This column determines the bank account that the posting rule is used with. If the field is left empty, the posting rule will apply to all bank accounts.
• Receiver/Payer: This column is used to set a name that matches to the Name field on bank statements. The given name doesn’t have to match the bank statement perfectly. The name, however, has to completely included in the bank statement. For example, if the Name field contains a text of “Company X Group Oy”, the text “Company X” will be adequate.
• Message: This field shows the message saved to the posting rule if the posting rule contains a specific message. The information in this field is set by using the Posting by message If the posting rule uses the message as definer, there is a X mark next to this field.
• Post to account: This field determines the bookkeeping account of the posting rule. The account is entered to the field by clicking Change bookkeeping account The bookkeeping account is not chosen if posting is made by the Search information in the message, rules for transactions section of Posting by message function.
• VAT %: The VAT percentage to be used in the posting rule is chosen in this field. The VAT is subtracted from the total sum of the transaction.
• VAT type: This field is used to choose VAT type (purchase or sales).
• VAT status: This field is used to choose VAT status for the posting rule.
• Balance sheet: If the bookkeeping account is an account in the balance sheet, this field can be used to give voluntary information to identify the posting by selecting a balance sheet item from the drop-down menu or  create a new identifier that is stored in the Balance sheet item register.
• Dimension rules: This field shows information (Yes/No) about if there are dimension settings for the posting rule. Dimensions can be set by clicking Dimensions button.

 

Posting by message function

Posting by message function is used when a transaction on a bank statement is entered to a specific bookkeeping account by the Message field information.

The function is also useful when the Message field in the bank statement contains different kinds of sums, such as credit card deposits.

The function is divided into three sections:

• Transaction identification by message,
• Search information in the message, rules for transactions,
• Check the functioning of the posting by pasting a sample message from the bank statement here.

 

 

Transaction identification by message

No. of characters to skip field is used to fill in the characters that are skipped before the actual message. Maximum amount of characters to skip is 500.

Identify the message text field is used to enter the actual text to be recognized from the bank statement transaction. The text entered in this field must completely match the text on bank statements. For example, if there is a text of “Company F Oy” in the Message field on a bank statement, the same text “Company F Oy” must be also included in the Identify the message text field.

 

Search information in the message, rules for transactions

• Row: The number of the message row that contains the sum to be processed is entered to this field.
• of characters to skip: The amount of characters to be skipped from the message is entered to this field.
• Column: This field is used to enter the message’s column from which the chosen sum is processed.
• Text search: A text to be used in the search for the sum in question is entered to this field.
• Column and Text search - fields cannot be used at the same time. Only enter a value in one of these fields. User is not able to add information to both of these fields. For example Text search -field gets deactivated if there is info in the Column –field. 
• Account: This section shows the bookkeeping accounts that have been set with the Change bookkeeping account button.
• Change bookkeeping account: These buttons open a window to choose bookkeeping accounts for the transactions.
• Change the sign of selection: This selection inverts the message’s sum to the opposite in its accounting entry.
• Space as thousands separator: With this selection, Procountor interprets sums with one space as one entity. This function is useful for example if the message is as follows: “Loan payment 1 230,40”.

 

Check the functioning of the posting by pasting a sample message from the bank statement here

The field in this section is used to enter a text from the bank statement’s Message field so that the functionality of the posting rule can be tested.

After clicking the Check button, the test results will be shown above the result text.

Continue button saves the set posting rules.