In Holded you can now choose whether you want a single accounting entry to be generated when reconciling a transaction with a remittance. This way, you avoid creating multiple payments for each of the invoices and you will only have one entry for all the invoices included in the remittance.
An accounting entry will be created for the total of the movement, matching the information on your bank statement with your accounting record . In addition, you will be able to quickly locate the invoices linked to the remittance and avoid reviewing a multitude of journal entries, as only one journal entry with several lines will appear.
To activate this form of reconciliation, you have to:
Finally, bear in mind that if this function is activated:
It will only apply to transactions that are pending reconciliation and will not consider partially reconciled transactions.
A journal entry - and therefore only one payment - will also be generated when the remittance changes to Completed status.
All payments and receipts on your bank statement will be accounted for safely and quickly and the information generated in Holded will reflect a true and reliable picture of your business' accounting position.
Amounts to reconcile
When it is not possible to reconcile the entire movement with the remittance, the remaining amount will be assigned to the account defined in the configuration of this functionality which, by default, for Spain is Account 555 - Items pending application.
In this way, the movement can only have two statuses: reconciled or not reconciled. The Partially reconciled status is not contemplated when the functionality is active.
Several movements for a remittance
In case of having several movements for a remittance, when reconciling each of the movements, a single payment and entry will be generated for each movement.