Managing bank reconciliations can be a time-consuming task, but with ProLaw®'s automated bank reconciliation feature, you can significantly streamline the process. This powerful tool allows you to efficiently reconcile bank transactions by importing a file directly from your bank.
How Automated Bank Reconciliation Works
The Automated Bank Reconciliation Import window provides a user-friendly interface to define the format of your bank's reconciliation file. Here's what you can do:
- Map Account Numbers: Link account numbers from your bank file to the corresponding account numbers within ProLaw®.
- Set Default Accounts: Specify a default account for entries if no account number is present in the bank file.
- Reconciliation Codes: Designate specific codes that indicate an item should be cleared.
- Date Flexibility: Define the date format and set a "fudge factor" for dates to allow minor discrepancies.
Understanding the Import File Requirements
Your text file from the bank needs to meet these minimum requirements:
- Format: Fixed-width or delimited format.
- Minimum Data: For checks: check number and amount. For deposits: date and amount.
- One Entry per Line: Each line must contain information for exactly one entry.
Examples of File Contents
Fixed-Length File Example:
10/3/09 10001-001 1234 10.5
12/22/09 10001-001 1235 25.5Delimited File Example:
1001-001,1234,10/3/2009,10.5
1001-001,1235,12/22/2009,25.5