This guide explains the processing of bank statements in Netvisor. You can access the bank statement processing from the bank statement view by clicking the Netvisor bank statement link and then the bank statement editing view link.
CONTENTS
- Bank statement editing view
- Handling erroneous transactions
- Posting an invoice in the ledger
- Machine-readable reference material
- Reconciling the bank statement
- Handling currency account bank statements
The number of the received bank statement is visible in the upper right corner of the statement. There is also a next link here, which leads to the next statement for the account in question.
Bank statement editing view
If the fiscal year is locked or VAT is locked, the bank statement cannot be edited. In this case, the user is notified as follows: The end date of the bank statement period belongs to a locked period, editing is not allowed.
The bank statement can be opened in the editing view from the bank statement editing view link. In the editing view, lines can be posted or manually matched to invoices in the system.
The list bank statement vouchers button displays the vouchers for transactions already posted for the bank statement in question.
Handling erroneous transactions
If the bank statement arrived when VAT, fiscal year, or purchase ledger was locked in the company, automatic processing of purchase invoices does not work, and these remain in error. If the period is opened, there is an option in the bank statement view to restart automatic processing and thus get the purchase invoices reconciled from the bank statement.
Filtering and posting lines
In the editing view, you can choose whether to display only the lines that have not been posted or bring all lines visible. This is done by selecting show all transaction lines. Filter lines for payment card commission retrieves Nets payment card transactions and possible commission postings from the bank statement. More information can be found on the service's own instruction page.
From the fetch posting rules button, you can retrieve already created posting rules and post lines using them. From the manage posting rules button, you can create these posting rules. More details on the service's own instruction page.
A bank statement line can be posted by selecting the post option at the end of the line. With the post button, you can select only one account, and the counter account is always the bank account's bookkeeping account. In posting, you can use a calculation target (if one has been created) and a possible tracking target. You can also create a posting rule from the view.
When the desired account is selected and the possible cost center is chosen, you can select the voucher posting method, type, and description at the bottom of the screen and press the create vouchers button.
Posting should not be used for a line where there is an invoice in the ledger, but choose other transaction and post the invoice through this.
Posting method
If you post many bank statement transactions at once, we recommend using the "Post each line as a separate voucher" posting method. If a separate voucher is not posted for each line and some posting goes wrong, you will have to correct all posted at the same time. If instead each line is posted as its own voucher, the correction is much easier and faster.
Voucher type
Select the voucher type. Voucher types are managed in the bookkeeping basic information and voucher types section.
Description
Provide the desired description for the voucher if you do not want to use the one offered by the system.
Creating a voucher
After the selections, a voucher/vouchers are created from all the lines selected for processing by pressing the create vouchers button.
Posting an invoice in the ledger
In the bank statement editing mode, select the triangle down icon from the post button.
New purchase ledger payment
Purchase invoices should be automatically reconciled if the payment traffic agreement is in order and the bank statement receives invoice payment feedback. If automation has not worked, the purchase invoice must be manually marked as paid. If money has left the account, it must be checked before posting whether there is a corresponding invoice in the purchase ledger. If not, use the Post function. If the invoice is found in the ledger, use Other transaction - New purchase ledger payment function. The link directs you to the purchase invoice list, where the invoice related to the payment is searched.
When the desired invoice is found, the payment field of the line can be used to make a payment for the invoice from the "Match to this" link. For the "Match to this" link to appear, the purchase invoice must be in the approved state.
The account field automatically receives the bank statement account, and the payment date automatically receives the bank statement line date. The "Save" button takes you back to the bank statement.
If it was a currency invoice and there has been a currency exchange rate difference between the invoice date and the payment date, the currency exchange rate difference is posted to the purchases currency exchange rate difference account.
Foreign payment batch reconciliation
-No longer used during the Sepa era.
Adding a new sales receipt
If the sales invoice has not automatically been marked as paid, it can be manually marked as paid. If money has arrived in the account as a bank transfer, it must be checked before posting whether there is a corresponding invoice in the sales ledger. If not, use the Post function, if there is, use Other transaction - Adding a new sales receipt function. The link directs you to the sales invoice list, where the invoice related to the receipt is searched.
Find the correct sales invoice line and select "new receipt" from the downward triangle at the end of the line.
Check that the payment date is correct. If necessary, you can change the processing method of the receipt. After entering the receipt, the user is directed back to the bank statement.
Processing methods:
The bookkeeping accounts for all processing methods can be defined in Bookkeeping default accounts.
Normal - Posts the receipt normally according to the default account of the payment account and sales receivables .
Rounding difference - Posts the separating amount to the default account for rounding differences. For example, invoice amount 100€, for which a receipt of 100.01€ arrives. When using the processing method "rounding difference", the entire receipt of 100.01€ is posted, of which 100€ is posted to the default account for sales receipts and 0.1€ to the default account for rounding differences. The processing method cannot be used solely for posting the rounding difference, but the entire received receipt is processed with this.
Discount - If the invoice receipt is less than the original amount, the processing method for the entire received receipt can be chosen as a discount, in which case the unpaid part is posted to the default account for sales discounts and the change in VAT debt is considered in the voucher.
Partial receipt - Posts the partial receipt normally according to the default account of the payment account and sales receivables.
Overpayment - Posts the overpayment to the account defined for overpayment posting. The payer information for the receipt is recorded as "Overpayment adjustment" (visible on the Receipts page). There is also a separate guide for overpayments here.
Collection - Should be used when a collection fee has been added to the invoice and the customer pays the invoice with the collection fee. The collection fee is posted to the collection account defined in the system's default accounts, and the payer information for the receipt is recorded as "Customer paid collection fee" (visible on the Receipts page). In Netvisor, the collection fee is not added to the principal of the invoice, but this processing method corrects both the ledger and the bookkeeping and posts the collection fees to the bookkeeping. This posting method can also be used in a situation where the customer pays only the collection fee separately.
Not allocated - Can be used in a situation where the receipt is not intended to be allocated to any invoice. The receipt is posted normally according to the default account of the payment account and sales receivables. The description for the receipt is recorded as "Receipt not allocated to invoice, [payer's name]".
Bad debt - Updates the invoice status to bad debt and posts the receipt as bad debt.
Linking a voucher
If the transaction of the bank statement line has already been posted to the bookkeeping, the voucher for the transaction can be linked to the bank statement. In the bank statement editing view, the blue arrow button linking a voucher option opens the bookkeeping voucher browsing, where the correct amount and date are already pre-selected according to the bank statement. If necessary, search criteria can be modified. The search button opens the view below, from which the Link link can be used to link the voucher to the bank statement. Linking the voucher does not affect any possible bank statement discrepancy, but it makes the bank statement more readable if the lines of the bank statement have already been posted to the bookkeeping. Also, resolving the discrepancy becomes easier because the line in question can be excluded from calculations, and any discrepancy comes from elsewhere.
Unlinking a voucher
The voucher link can be removed through the "Unlink" button on the transaction line. In the next view, the program asks whether to remove only the transaction link information or also delete the voucher in question. If you do not want to delete the voucher but want to void the voucher, only the link information is removed, and the voucher is voided separately through voucher-specific functions.
Creating a new voucher
The link opens voucher entry. Use this tool in a situation where there are multiple counter accounts for a bank account transaction. With the normal Post function, you can add only one counter account. In voucher creation, the bank account is pre-selected with the amount of the bank statement line in question. Save and return to the voucher button takes you back to the bank statement.
Machine-readable reference material
Machine-readable reference material must be agreed upon separately in the payment traffic agreement. With this, sales invoices are automatically reconciled if the customer pays them with the invoice reference and the correct amount. Machine-readable reference material cannot be processed from the bank statement but from Sales > Receipts section. From there, the transaction can be matched to an existing sales invoice or, if there is no invoice, it can be posted using a posting rule. Processing machine-readable reference material requires the use of the sales ledger section. If a machine-readable reference arrives at the company and the sales ledger section is not in use, the voucher must be manually posted to the bookkeeping from the bookkeeping new voucher menu. If the transaction is manually done, it appears on the bank statement in the machine-readable reference material section, the user's ledger-entered receipts.
Below is an example of what machine-readable reference material looks like.
Below is an example of a situation where machine-readable material has not arrived at the company. In this case, the bank statement reads Reference notes and the number of transactions. To clarify the breakdown of transactions, contact the bank. If these are to be posted to the bookkeeping, the invoices must be manually marked as paid for the day the transaction appears on the bank statement.
If the bank statement reads reference transfer and these are not detailed, the problem may be due to the lack of a payment traffic agreement for machine-readable reference material or the bank statement processing for the day in question has not yet been completed in the background.
Reconciling the bank statement
Reconciling bank statements is done in the bank statement view. The system compares the ending balance of the bank statement to the balance of the bookkeeping account for the bank account per the last day of the bank statement. The bookkeeping account set for the bank account can be found in "Company menu > Bank accounts".
If the bank statement and the bookkeeping account for the bank account match, the discrepancy is 0.00 euros.
You can drill down into the account-specific entries for the account from the bookkeeping account balance.
If there is a discrepancy between the bank statement and the bookkeeping account balances, it is shown in the Discrepancy column. The Discrepancy column displays a warning triangle and the separating amount. The amount in the Discrepancy column can consist of several separating transactions in total.
To find discrepancies, open the editable bank statement on one tab, where the bank account transactions are detailed, and on another tab, retrieve the bookkeeping information. In Financial management > Bookkeeping reports, you can retrieve, for example, the account balances report (you can also use, for example, the general ledger or voucher browsing report) and limit the account balances report to the bank statement period and the bookkeeping account used for the bank account in the search criteria.
In the example image below, the weekly bank statement is reconciled for the period 2.-8.10.2023, and the account-specific entries are limited to the bookkeeping account for the bank account, which in this example is 1930:
Open the account-specific entries for the bookkeeping account of the bank account and compare them to the bank statement transactions. Possible causes of discrepancies between bookkeeping and the bank statement are usually;
- A transaction has been posted twice in the bookkeeping
- Not all bank statement transactions have been posted to the bookkeeping
- The amount posted to the bookkeeping for a transaction differs from the bank account transaction amount
- A transaction has been posted to the wrong bookkeeping bank account if multiple bank accounts are in use
- The date of the bookkeeping voucher differs from the bank account transaction.
Note: For example, Nordea may send bank statements with no transactions. In this case, the ending balance of the bank statement is 0.00€, and this causes a notice in the discrepancy column in the bank statement view. In this case, no actual discrepancy has occurred, but the situation is corrected when the next bank statement containing transactions arrives, which also reports the ending balance of the bank statement.
Handling currency account bank statements
Unfortunately, currency account bank statements show a discrepancy because bookkeeping in Netvisor is always done in euros, and the currency account transaction is in another currency. No conversion is made between the currency account balance and the euro-denominated bookkeeping balance in Netvisor.
Keywords: Bank statement, currency account bank statement, bank statement editing view
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