Bank Reconciliation now allows users to match multiple HomeSource transactions to a single Plaid transaction when their combined amounts equal the bank transaction total. Users can select multiple matching transactions, with the system calculating the remaining difference until the amounts match. This makes it easier to reconcile bank transactions that represent multiple invoices or payments while reducing the need for manual adjustments.
SOP: Match Multiple Bank Transactions to One Plaid Transaction in Bank Reconciliation
Objective
This SOP explains how to reconcile a single Plaid bank transaction against multiple related deposits or invoices when the combined amounts equal the Plaid transaction total. Following these steps helps complete reconciliations faster and reduces manual adjustments.
Key Steps
1. Open Bank Reconciliation and select the Plaid account 0:10
Navigate to General Ledger > Bank Reconciliation.
Select the Plaid account you want to reconcile.
Confirm you are working in the correct bank account before continuing.
2. Set the transaction date range and load transactions 0:30
Enter the desired date range for the reconciliation.
For a focused review, you may use a single day range.
Click Get Transactions to display the bank activity for that period.
3. Select the unmatched Plaid transaction 0:45
Locate the unmatched transaction you want to reconcile.
Click the checkbox next to that transaction first.
Use this transaction as the starting point for the multi-transaction match.
4. Select the related deposits or transactions 0:55
Check the boxes next to each deposit or transaction that should be matched to the selected Plaid transaction.
Continue selecting related items until the total amount is fully covered.
Watch the running difference as each item is added.
5. Confirm the difference equals zero 1:06
Review the calculated difference after each selection.
Keep adding matching transactions until the difference is zero.
Once the amounts balance exactly, the transactions are ready to be matched.
6. Complete the match 1:16
Click Complete Match to finalize the reconciliation.
Verify the match is saved successfully.
Repeat the process for any other Plaid transactions that need to be matched to multiple items.
Cautionary Notes
Only match transactions when the combined selected amounts equal the Plaid transaction total.
Double-check that you selected the correct bank account and date range before matching.
Avoid forcing a match if the difference is not zero; investigate missing or incorrect entries first.
Ensure each selected deposit or invoice truly belongs to the bank transaction being reconciled.
Tips for Efficiency
Use a narrow date range when possible to reduce the number of transactions displayed.
Start with the unmatched bank transaction first, then add related items one by one.
Monitor the running difference as you select items to quickly confirm when the match is complete.
This feature is especially useful for one bank deposit representing multiple invoices or transactions.