Bank Recon/Allocations

Allocating

After a bank statement has been uploaded into Augtool you are then able to allocate the bank account lines to transactions, CoA accounts, Items, pre/over payments, unallocated amounts and payment runs within the system. In the above example, you can see that one bank account line item has been allocated. Once it has been allocated, it will turn green and a payment or receipt will be created in the Accounts >> Payments/Receipts screen as seen below.

The allocation of any bank account line item is done by clicking on that line and then allocating. with the screen you see below. 

Before you are able to allocate a bank line to invoices etc, the difference needs to be zero. 

Invoices and Journals

Invoices, Predefined/accounts and Items can be allocated to directly. You merely search for the document with the blue search button and click on it to add to the allocation list. 

Every line that has been added will turn green so that you know you have added it to the list. 

Please note, you can only find transactions for an organisation within its specified flag namely Customer OR Supplier. If you are looking for sales invoices but the Supplier flag at the top of the screen has been set, you will not find it. 

Pre/Over payment

Should you have received or paid more money to a customer or supplier and do not have enough documents to allocate to, then you can add the funds to the customer or supplier account in the Pre - Over payment tab. 

This amount will sit on the account as unallocated and can be used at directly on an invoice as shown below or on the bank at a later stage. 

Unallocated

This tab is used to allocate a bank payment or receipt to an unallocated amount on a customer or supplier.  For example, you over paid a supplier and put that over payment onto the account as unallocated with the pre-over payment tab.  That unallocated amount is now sitting on the suppliers account. Should the supplier now refund you the money, you can use that line from the bank statement and allocate it to the unallocated amount in the previous step. 

You can only find unallocated amounts within one organisation AND same customer or supplier flag. 

Predefined allocations items

A Predefined item is an item that is only used in bank account allocations and can be setup under stock >> Items. It is a way to link a CoA account to an item and set its defaults. When you want to allocate to a CoA account and ensure you have selected the correct tax, you can rather use the predefined item with the defaults set. You will need to set up a Predefined item with its defaults set and accounts linked under the Stock >> Items menu. 

Settlement discount

You are also able to add a settlement discount to any individual allocation. 

Settlement Discount Granted and Settlement Discount Received defaults need to be setup under your business unit. These two accounts (which can be the same chart of account if you decide that) are used to post the financial transactions to. The system also needs to understand what Vat Code you want to use for settlement discount. Many Clients create a unique VAT code for Settlement discount and then assign that Tax code as the Settlement Discount Tax code. You can do this under the Terms tab of the Business Unit. 

Bank Payment and receipts

Please note that each line item that you allocate will create a payment/receipt within the system. It is the payment/receipt that creates the financial transactions, not the bank account line item on the bank statement. This payment/receipt can be found by opening the allocated bank line and clicking on the magnifying glass or navigating to the payment receipts screen under the accounts menu. 

Should you click on the payment or receipt from the payments/receipts menu or from the bank side you will see the following screen that describes the actual allocation. 

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