Bulk Match in Reconciliation
kaylacermak28712
Member Posts: 2
I have a retail client with hundreds of transactions monthly. It is extremely cumbersome to reconcile the bank account without a bulk match feature. Is there a way to include this?
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Are the transactions importing on their own? Meaning are they using cash basis accounting. If so, then Wave would always agree to the bank because that is where it's getting the transactions from. For example, client writes Check 200 to ABC Supply. ABC Supply does not cash the check until the next month. Both Wave and the Bank would agree at month end because the Check 200 never cleared the bank so it did not import. It would be different if you are manually entering transactions. With hundreds of transactions per month, that would be a lot of work.
They just started business in 2021 and appear to have entered some items manually while most are imported, so yes ideally it would all match up but it does not. Either way I would prefer them to reconcile every month as a best practice. I am accustomed to softwares allowing you to select all. It's not that it's hard to check each one, but it is just time consuming.
I would think that it doesn't match because the entries they made manually are also imported. I would stick with just using imports, especially with that many transactions per month. I have some clients that have serval hundred per month as well. It set to auto import. Since it always agrees to the bank there is no need to reconcile. Best of luck.