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Bank Activity Overview

Overview

The Bank Activity screen allows you to upload files obtained directly from your Bank or Credit Card provider and match those files to existing transactions in Restaurant365. To begin, you must first obtain the activity file.


Step 1: Export Activity from Provider

Log on to your provider's website and locate the Activity download page.

Two file types are supported:

  1. .qbo - Quickbooks Online File Format
  2. .qfx - Quicken File Format

If neither .qbo or .qfx file type are available, a CSV file can be used, but it will need to be converted using a third-party program.

Click here for more information on Converting .csv files to the required .qfx format

Select, or confirm the Account, set the activity date range that you want to reconcile in Restaurant365, select the file output type, then download the Bank Activity.


Step 2: Upload Bank Activity

Open the Bank Activity screen from the 'Banking' menu. When Bank Activity is uploaded, the system will attempt to auto-match each transaction from the Bank Activity file with an existing approved transaction in Restaurant365. Please note: Unapproved transactions will not be matched.


If you are using the Undeposited Funds Account, you will want to leave the 'Match Undeposited Funds' checkbox checked to include those deposits.


Select the Bank Account, click 'Upload Bank Activity' and choose the qbo/qfx file from Step 1 to run the auto-matching process.


Step 3: Review Auto-Match

Once the auto-matching is complete, a system alert will display how many matches were successful.


Each uploaded transaction will be reviewed against existing Approved transactions using the following Auto-match logic:

  1. Check Number Matches, Dollar Amount Matches and is Unique (meaning no multiple matches)
  2. Dollar Amount Matches, is Unique and the Date on the Bank Activity transaction is within:
    • +2 Days from the date of the R365 transaction
    • -45 Days from the date of the R365 transaction
    • Bank transactions that have a post date more than 2 days in the future from the R365 transaction will not match.

Matched transaction will be listed in the 'Matched/Excluded' tab. If a transaction does not meet any of the matching criteria, or if multiple possible matches exist, it will be listed in the 'Unmatched' tab.


Multiple Possible Matches

When there are multiple possible matches, an 'M' will appear on the transaction line. Expand the line by clicking the detail arrow to view the possible matches.


Click 'Match' to choose the correct transaction and complete the match.


Unmatching

Auto-matched Transactions can be unmatched if needed simply by clicking the 'Unmatch' button on each line. The transaction will then be moved to the 'Unmatched' tab.


Next Steps

Review the unmatched list for transactions that could be filtered and created using Bank Rules. We will walk through how to use Bank Rules in the next Lesson.

For all other 'Unmatched' transactions, one of the following needs to occur:

  1. Locate and manually adjust the existing transaction so that it can be automatched,
  2. If the transaction does not exist, create a new transaction
  3. Excluded the transaction and manually reconcile on your Bank Reconciliation