Accounts Reconciliation
BitCurb is a single solution technology company providing an enterprise grade reconciliation platform.
Our platform automates and validates the process of identifying human errors and data discrepancies, when comparing internal financial records against external data.
By comparing your QuickBooks Online data to your bank statement or any other data source, you can reconcile your Invoices, Bill Payments, Bills, Sales Receipts, Sales Payments, and Purchases.
In order to use the solution, you must sign up for a BitCurb account. We provide a free 30-day trial and free implementation for your business case.
Sing up for a 30-day trial BitCurb account. No credit card is required upon registration.
Implementation
To reconcile your data in BitCurb, you must first complete the preparation procedures listed below.
- Define your accounts—It represents the account that you are reconciling. It acts like a data repository in which you define your two data sources to match with each other.
- Define the data containers that BitCurb will use to connect your data. Define your data acquisition templates.
- Define your matching rules – BitCurb supports One-To-One and One-To-Many with adjustments. Link your reconciliation rules to your account.
- By importing and reconciling with the press of a button, you may leverage the power of the automated process.
During the data acquisition step, we provide default mappings which you can change or remove.
Data Containers
Select the “Admin – Data Containers” menu and click the “New” button above the list on the rendered page to create a new container.
To disconnect your QuickBooks Online account, delete your containers.
Chart of Аccounts
The Chart of Accounts determines how BitCurb stores your data.
Select the “Admin – Accounts” menu and click the “New” button above the list on the rendered page
You can create the account repository and put your Side 1 and Side 2 within it.
Import Тemplates – your data acquisition
The import templates define how your data is acquired, converted, and imported into the appropriate BitCurb account.
You should define the type of data you wish to import and the time period to which your imported data corresponds in QuckBooks Online.
Select the “Import” menu and click the “New” button above the list on the rendered page.
The “Time Period” property is linked to your TxnDate property and represents the “Created” time stamp.
In your mappings you have to link your BitCurb account from Chart of Accounts by setting the Account Number property.
You can transform your data the way you need to efficiently match your bank statement.
To import your QickBooks Online data into BitCurb click “Run” from the inline buttons group in your import templates page.
Matching rules
Select the “Crunch – Rules” menu and click the “New” button above the list on the rendered page.
BitCurb provides a documentation of all supported formulas you may use to defined your data acquisition or matching rules.
Functions SyntaxReconciliation
Once you have your data imported you can match it by a single click of a button.
Select the “Crunch – Crunch” and load your imported data for QuickBooks Online and its counterpart data.
Once you are in the matching page, click “Run Matching” to apply your matching rules logic.
Your outstanding transactions are the transactions that remain after the reconciliation has been completed. You can manually match them or categorise them and investigate them further.
Reports
You can build your reconciliation reports at any moment and save them for auditing and compliance purposes.
Select the “Reports” menu and click the “New” button above the list on the rendered page.