konmanos's avatar
konmanos
Trusted User
11 years ago
Status:
Done

Get Statement: Allocate multiple lines using Add Transaction

When importing a statement from the bank - or - from the PayPal site, we find that we have many items - eg PayPal fees that we need to reconcile on a per transaction basis. This forces us to select each item - PayPal fee - assign it to the Expense Account - PayPal fee and then do the same again - for the next item - again PayPal fee. The same happens when you receive income - PayPal sale.

 

So if we have 300 sales in a month - we have to select each sale - and assign it to the Sales account - around 900 mouse clicks - 1 mouse click to select the Sale, 1 mouse click to assign the sale to the sales account, 1 mouse click to complete the assignment - total number of clicks 3 - for the 1 x sale. 

 

As each sale - has a PayPal fee - the same number of clicks - 900 - needs to be made for the PayPal fee incurred for the sale. So for the month you will incur 1800 - mouse clicks to complete my reconciliation for PayPal.

 

What would be ideal - is to be able to flag all of my PayPal fees - 300 - with one click at the top of the screen, and assign them all to the PayPal expense account - 2 clicks and complete.

 

The same to occur - when PayPal sales - 300 of these - one click to select them all - and a second click to assign them to the Sales - Online - account. 

 

4 clicks and I am reconciled..

 

Makes better sense to me..

 

"Multiple Expense or Income items - Reconciliation"

Banking
reconciliation
  • Suja_P's avatar
    Suja_P
    Former Staff
    11 years ago
    Status changed:
    New
    to
    Open
    Thank you for the post @konmanos. It would be great to be able to select multiple lines on the imported bank statement to create one bulk transaction in the system. So that this may be changed in a future update, we request others who would like this change to please vote and comment.
  • interAccounts's avatar
    interAccounts
    Valued Cover User
    10 years ago

    I agree with the bulk posting facility in the reconcile accounts for those accounts which don't have any Bank Feeds set up.  There are many accounts & credit cards which don't have the option to link via Bank Feeds.  The bulk posting facility will help with speeding up the bank reconciliation process of these accounts.  

     

    It would be great if Paypal had a bank feed functionality so that you could set up a rule for these to be automatically processed.

     

    The other option is to set up a rule funtion within the 'Get Statment' option of the bank rec.  I know this is possible as it is already in the AccountEdge version, and it has sped up the bank rec process significantly for my Apple clients.  

  • Steven_M's avatar
    Steven_M
    Former Staff
    10 years ago

     Hi interAccounts 

    Thank you for your feedback and voting for this idea on the AccountRight Idea Exchange. i have shared your comments with the team.

  • MrRabbit's avatar
    MrRabbit
    10 years ago

    You could speed up the QIF Bank import by having 2 columns one for Expenses and one for income so you could important all the income by using the following steps

     

    say that all the credits are Income.. you would press tag all in the income column and then press import... it would then ask you what code to import them to eg 41-100... once you click ok it would import all the transactons to the one allocated code.... we have 300 to 500 income transactions on each bank rec... this in turn is over 1000 keystokes to import it...

     

    my method would bring this process down to about 8 keystrokes

     

     

    You could also choose tag all and then just untag the few transactions that are not income...

     

    if anyone would like to discuss this idea pleae call me on 07 3808 3888 ext 5

     

    Regards,

    Jim Papas

     

    PS. if you thing this idea is great please load or like this idea so that we can get the feature can be added as it will have hundreds of hours in a year...


    'Speed up Bank Reconciliations by adding a tag option to Group Import Income / expenses to a single account"

    • Steven_M's avatar
      Steven_M
      Former Staff
      10 years ago
      Status removed:
      New

      Hi MrRabbit 

      Thank you for your idea and feedback. 

      Can you confirm that you are referring to the AccountRight program not the MYOB Essentials program?

      Also when you say import a QIF file are you referring to the Get Statement option?

  • Steven_M's avatar
    Steven_M
    Former Staff
    2 years ago
    Status changed:
    Open
    to
    Done

    Hi Everyone

    Using the Import Statement function in the AccountRight Browser interface will import the transactions into the Bank transactions window. From within this window, you can bulk allocate the banking transactions.