Automatic Bank Account Reconciliation- Smart Banking
What's going on during an Automatic Bank Rec?
Once you have established a proper connection between Smart Banking and one of the approved banks, TOPS will compare your bank account with the transactions in the system, and clear like items. Items that are not cleared will be marked with a red bar, for easy identification, and you will see the number of transactions in the important KPI (Key Performance Indicator) available on your bank profile page.
The number of uncleared transactions can easily be found on the Banks Profile page in the Important KPI. When the KPI is clicked, you will be able to find the Community, account, and number of uncleared transactions.
Clicking the Bank Account name will redirect you to the accounts bank rec page.
Uncleared transactions will have a red bar next to the transaction date.
These transactions will need to be cleared manually. Verify these items are also in your bank account, and clear accordingly.
These uncleared transactions can also been Service Fees or Interest Income Fees added by your bank. Quickly and easily add and clear these transactions using the following information.
Use the Quick Add feature to:
Add Interest on a Deposit
Add a Service Fee on a Payment
If there are transactions, like a bill or a miscellaneous cash receipt that have yet to be entered in TOPS, easily and quickly add them to the system using the information below.
The Create feature will:
On a Deposit, redirect you to enter a Miscellaneous Cash Receipt.
On a Payment, redirect you to the Enter Bill page.
Once you enter a new transaction, it’ll automatically clear that transaction. The clear date will default to the current date. This
Note: If cash receipt were group by the bank, TOPS cannot break up checks for a single owner.
If you have homeowners paying multiple properties with one check, this can cause the system to not find the transaction to reconcile.