Setting Auto-Clear Functionality

 

LAjit offers an “Auto-Clear” functionality that allows you to upload your bank statement information for automatic reconciliation.

To use this functionality you must first set up the option in the Bank Preferences.

Navigate to Banking, then select Preferences from the sub-men, then click on Financial Institutions (Figure 2-1).

Setting Auto-Clear Functionality – Figure 2 – 1

 

Select the desired bank account (Figure 2-2).

Setting Auto-Clear Functionality – Figure 2 – 2

 

On the next screen, click on Modify then navigate down to the Upload Method (Figure 2-3).

From the drop down method, select bank, then click Submit.

Setting Auto-Clear Functionality – Figure 2 – 3

 
In addition to this set up, there are also two accounting controls that must be reviewed and/or set up.

To do this, navigate to Financials on the Dashboard, then select Preferences, and then click on Accounting Control (Figure 2-4).

Setting Auto-Clear Functionality – Figure 2 – 4

 

On the Accounting Control screen navigate to Auto-Clear Deposit Grace Period +/-Days and Auto-Clear Check Grace Period +/- Days (Figure 2-5).

Setting Auto-Clear Functionality – Figure 2 – 5

 

These two controls let the user; decide the grace period (in days) for deposits and check clearing. LAjit automatically defaults to Value 1 (1 day) (Figure 2-6).

To Modify the Auto-Clear values, select the control account and click on it. Select Modify, from the left menu, and enter the desired value and then click on Submit (Figure 2-6).

Setting Auto-Clear Functionality – Figure 2 – 6

 

For the next step, you must go to your bank website (Online Statements) and download the appropriate file.

Click Here for detailed instructions on Downloading CNB Bank Statements, otherwise; below is an example using City National Bank, (Figure 3-1) of what you can expect on your bank’s website.

Setting Auto-Clear Functionality – Figure 3 – 1

 

From your bank’s website, you must select a “Date Range,” the “Account Number,” the type of report (Detail Bank Statement) and export the file to your desktop for the upload later.

When “prompt”, the export type you need to select will be “Comma-separated” or “CSV,” see example below (Figure 3-2). Once the file is exported, you may upload it to LAjit.

Setting Auto-Clear Functionality – Figure 3 – 2

 

To upload the bank file, navigate to the Auto-Clear link (Figure 3-3) and select it.

Setting Auto-Clear Functionality – Figure 3 – 3

 

From the next screen, select “Browse” and locate the bank file and select it. Once that is done, click on “Upload” to submit file (Figure 3-4).

Setting Auto-Clear Functionality – Figure 3 – 4

 

By selecting Cleared Results, you can review the items that have been cleared through the Auto-Clear function (Figure 3-5) and address any discrepancies.

Setting Auto-Clear Functionality – Figure 3 – 5

 

Once your bank reconciliation is done, review your totals. The Ending Balance must match the Adjusted Balance (Figure 3-6). If it doesn’t, review your bank statements for any discrepancies.

Setting Auto-Clear Functionality – Figure 3 – 6

 

To finalize the reconciliation select Finalize Statement to close the monthly entry (Figure 3-7).

Setting Auto-Clear Functionality – Figure 3 – 7

 

You can also print out a Reconciliation report from this menu. Simply click on the Print Reconciliation link to generate your report (Figure 3-8).

Setting Auto-Clear Functionality – Figure 3 – 8