Zoho Books – Tip: Add & Match

Zoho Books Tip – Add & Match Bank Statement transactions

Zoho Books is a great accounting tool (and not just in the sense of so many web services who call the two functions of invoicing & invoice aging “accounting“). It allows you to generate invoices, and manage your business’ ledger via a full double entry accounting and bookkeeping system. this way it is easy to present a one click view of your business.

Unfortunately you do however transact in the real world via your bank account. Here it helps, that Zoho Books allows you to reconcile you bank account. The first step is to match all your transactions.

If you have created transactions within Zoho Books, the service will try and match your existing transactions against the ones imported via your bank statement. It seems to use the date and amount to match the transaction selected from your bank statement against the ones existing in the system.

Unfortunately, you are not able to see the description of the selected bank statement transaction. So if you have a number of similar transaction (only differing in the description), this might be a challenge.

You will select a transaction from the imported bank statement and see the unmatched transactions in the system with the same date & value. Matching transactions removes them from both views (statement and system). If no transactions match the criteria, you are able to use the add & match function to create the transactions within Zoho Books. This function automatically matches the transaction you create with the bank account statement transaction selected.

This is especially great to ensure no transactions have been missed.

Once no transactions remain outstanding, you are able to reconcile your account.