Sage Financials Bank Reconciliation – Split transactions option

By | July 30, 2018

You may come across a situation where you need to reconcile multiple transactions against single transaction appearing on your bank statement.  Say you received a single receipt from your customer against multiple invoices or you paid one check for multiple supplier invoices.

Using the Matching screen in Sage Financials you can easily reconcile multiple transactions using Split option.
In the below-mentioned example; we have 3 open sales invoices.

sage financials bank reconciliation

To proceed with bank reconciliation here we are importing bank statement in CSV file format.

importing bank statement in csv

After importing bank statement; on Matching screen we notice a Credit transaction from a customer.

matching screen in sage financials

Since this is a receipt from a customer; we will select Type – Customer Receipt.

This will load all unreconciled invoices under Outstanding Items table.

unreconciled invoices

Then select the individual invoices.  Here we have selected all 3 open sales invoices for this customer.

customer sales invoices

After selecting the required transactions click Split.  This will open a window where we can insert the amount to be allocated to each transaction.

sage financials transactions

Note: When using the Split option, the maximum transactions to be allocated against a bank payment/receipt is 14.

Once the allocation is done; click Validate.

transactions to allocate

After validating the transaction; notice that Matching screen shows 3 customer receipt transactions matched to the single credit transaction with an appropriate allocated amount.

matching screen sage financials

Now after completing the Matching; from Bank Takings select the statement/journal you just reconciled and click Post.

bank reconciled sage financials

After posting; you can see all 3 sales invoices are marked as Paid.

bank reconciliation sales invoices

Hope this helps!

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