Bank Statement Deep Dive: the complete 15-step workflow, from CSV import to posted transactions.
Download the CSV file from your bank.
Set up the config file to match the CSV format.
Import the CSV file, ensuring an overlap with previous imports.
All new items create tags that need to be cleared.
Select the tags and assign them to a batch, or add a new batch via drill down. If required, add a new transaction.
The tag has an optional Keyword, which supports boolean operators and wildcards. This is part of the Artificial Intelligence.
On completion of the tag, it is hidden from view.
Clear all remaining tags.
Select the Process button. All tags, both prior- and post-dated, update the internal bank statement. The bank statement has a running balance that is on the tag, and the system checks that the internal bank statement matches. This ensures that the internal bank statement is an exact copy of the actual bank statement.
The internal bank statement contains the amounts, dates, batch number and the status: Imported, Batched or Posted.
Generate Captured Transactions and, in some cases, post the Captured Transactions.
The remaining Captured Transactions can then be posted in the Control Panel.
As months move on, the system auto-recognises transactions from its tags, speeding up processing.
The transactions are posted exactly as per its definition, ensuring consistency.
There is a permanent internal bank statement that can be viewed and searched.
See the bank statement workflow in simplicityERP for yourself.