What are Unreconciled Transactions?
Unreconciled Transactions are expenses/payments that have been made and not matched to a bank statement. Your Bookkeeper360 Team will do their best to ensure transactions are matched up and reconciled to the correct account, but there may be times we need additional information from you in order to match transactions up correctly.
How do I access the Unreconciled Transactions?
You can access the unreconciled transactions tab by clicking on Account Management-->Unreconciled Transactions.
How does the Unreconciled Transactions feature work?
By default, the Bookkeeper360 App will pull in transactions every sync from your “Open Transactions” account:
Name: Open Transactions
Account code: 9999
Type: Long Term Asset
If you utilize a different “clean up” account in Xero/QBO, please contact your Client Advisor to adjust this in the Bookkeeper360 App.
In the Unreconciled Transactions tab you can see which transactions are awaiting to be reconciled, you will see a note with how many unreconciled transactions you have to review.
There are three stages of an Unreconciled Transaction:
Unanswered: New transactions that are awaiting to be answered
Answered: Transactions are moved to this section after you have reviewed and answered them and ready for your Client Advisor to review and reconcile
Resolved: Once a transaction has been reconciled, they will move into the “resolved” column as completed
After you review any unanswered transactions, leave your comment on the fillable field on the right-hand side and click “Submit”. Your Client Advisor will then review your answer and reconcile the transaction.
Any comments you leave on the memo field will be saved in the “Memo” field within Xero/QBO so you do not lose any history of the transaction.