We have been working hard to bring you this new update that will save you hours of work in your day to day life! Orama now offers automatic transaction reconciliation.
Now, the reconciliation of new payments and receipts from the bank with your forecast item… are completely automatic! You set the rules for automatic reconciliation, and if they are met, the movement will be applied directly to the corresponding forecast.
To edit the reconciliation rules, simply click on one of the line items, and in the slider on the right there will be a “Features” tab, where you will find the keywords assigned to that particular line item. Click on the small arrow and the reconciliation settings for that line item will open.
Here you will find the reconciliation rules, where you will have different concepts. Remember that the fields you leave blank will be disabled.
- Mandatory words: words that must necessarily appear in the bank statement in order to be reconciled. If you enter more than one word, all of them must appear in the motion concept.
- Optional words: simply one of the words you indicate as optional will have to appear. If, for example, you enter the optional words “Google” and “LinkedIn”, the payments for both items will be reconciled to this line item.
- Rejected words: are excluding words, if the bank movement contains any of the rejected words, it will not be reconciled with this item or forecast.
- Minimum or maximum amounts: in case you want to define maximum amount ranges in the transactions for that item or forecast.
- Bank category: quite useful for items such as payroll, taxes, or bank charges.
And finally…
- Automatic Reconciliation Check: if you activate automatic reconciliation, and a bank transaction meets the above parameters, it will be reconciled automatically, without asking! Remember that by default it is deactivated, but you can easily reconcile your new movements in the Reconciliations section, where you will find reconciliation proposals so that you can quickly have your forecasts updated in just a few clicks.
Do you want to save hours and hours of time updating your cash budget?
Find out how in a 15-minute chat with one of our experts.
