MoneyWorks Manual
Auto-Reconcile
The Auto-Reconcile facility is a convenient way to speed up your bank reconciliation, in that it identifies new transactions imported and (because they agree with the bank statement), marks them as being correct for reconciliation purposes. Existing transactions are marked to be omitted, so will not duplicated.
Note: The Auto-Reconcile option must be set before the Load Statement File button is clicked. If you get it wrong, set (or reset) the option, and click the Load Statement File button again.
Important: Using Auto-Reconcile is not a replacement for doing your bank reconciliation. You should still complete the bank reconciliation process.
Determining if a transaction exists
To determine if a transaction on the bank statement already exists, MoneyWorks does the following:
- If a single transaction is found in MoneyWorks with the same date, amount and reference (e.g. cheque number), the imported one is marked to be omitted, and the existing one will be marked as reconciled.
- If more than one transaction is found with the same reference number, then provided one of them has the same date and the same value, it is marked as being reconciled.
Fine tuning the Auto-Reconcile
Omitted transactions are marked “Skip”. Clicking on “Skip” will cause the transaction to be included.
Transactions marked for reconciliation are ticked—you can mark a transaction not be reconciled by resetting the tick.