When you link your bank account with Holded, the system goes to work for you, offering you smart suggestions that automatically perform the reconciliation.
This means that, by analyzing the amount, date, and description of each transaction, the system suggests which invoices, expenses, or other documents could match your bank transactions.
Benefits of using smart suggestions
Time-saving: forget about spending hours reviewing transactions manually.
Greater accuracy: reduce to a minimum the errors that can occur when doing the accounting by hand.
Total control: although the system generates suggestions, you always have the last word. You can review, adjust, or confirm each one before finalizing.
Reconciling transactions with suggestions
Reconciliation is faster and easier thanks to smart suggestions. Follow these steps to use them:
Go to Treasury > Accounts, and select the bank account where you want to reconcile transactions.
Click on Reconcile in the upper right corner.
If there are no suggestions yet, click Find suggestions to have Holded search for matches between your bank transactions and the registered documents (invoices, expenses, etc.).
If, on the other hand, suggestions already exist, select Review Suggestions to view them.
In the pop-up window, review the list of possible matches:
To approve a suggestion, click the blue check between the transaction and the document.
To discard a suggestion, click on the X to the right of the document.
Once approved, the suggestions will be automatically reconciled, and the blue check will change to green to indicate that everything is ready.
On the other hand, in the list of transactions, all those transactions that have unapproved suggestions available will be identified with a magic wand icon. To reconcile them, follow the usual procedure: check the box, select the documents, and click on the Reconcile button.
☝🏼 Remember that to check against which documents a particular transaction has been reconciled, you can use the “Reconciled” filter in the bank statement window and click on the transaction.
Update suggestions
If you have made changes to any documents after generating the reconciliation suggestions, it is important to make sure that the suggestions the system offers you are still accurate and relevant. To do this:
Go to Treasury > Accounts, and select the bank account where you want to reconcile transactions.
Click on Reconcile in the upper right corner.
Click the Update Suggestions button.
Holded will then re-analyze the updated bank transactions and documents, looking for new matches and checking if any of the previous suggestions are no longer valid due to the changes made. This process ensures that the information is always aligned and that no errors occur in the reconciliation.