Bank Conciliation Payments

01/30/23 Perform bank statement payments from Bank Conciliation window

Escrito por Rubén Mosqueda Herrera
Actualizado hace más de una semana

If you must perform this type of payments or require any of the following settings, please request them via ticket or chat

In the Bank Conciliation window you will be able to relate the pairs of movements between debit and credit to bank accounts during the period of time that corresponds with your bank statement. However, some types of charges such as bank commissions and interest payments do not appear on Cirrus but they do on your bank statement so they were not being reflected until now.

To fix this, we have now implemented a way to perform payments for this type of bank payments - Internal Payments or Movements - from the Bank Conciliation and to relate these charges to a bank through a business partner (that will belong to this same bank).

Here's more details about this improvement :

Settings you will need

  • Business Partner Settings

    In the Business Partner window you must create a business partner directly related to the bank account that we will use for payments made for commissions, credits and other types of charges not generated in other Cirrus payments.

    This Business Partner should be either a Creditor or a Supplier.

  • Bank and Bank Account Settings

    • Relate the created business partner (company) to a Bank

      Go to the Bank window, where you will be able to relate this creditor/supplier business partner for this type of payments in the new field called Company by following these steps:

      a. Look for any existing bank or create a new one in New Record.

      b. Enter Company name and fill up any other missing field if required.

      c. Save changes.
      d. Now select (detail) or create a new bank account (plus icon).

      e. Fill up every missing field for the bank account, please consider that you must set it as follows :

      • Is own account

      • Savings Type

      f. Relate this account to their accounting bank account (below) and Save your changes.

  • Diverse Charges Settings

    Now you can create a new Diverse Charges record with the amounts of expenses and income or edit an existing one and link it with the bank account that we generated for the bank. This configuration is done in the DiverseCharges window, this charge must meet the following requirements:

  • Be Financial Type

  • Be related to the bank acount for the bank we created.

    Once you have completed filling the data of this window, save your changes.

    Generate Payments

    Ahora, en la ventana Conciliación Bancaria, podrás generar los pagos al relacionarlos con sus contrapartes del estado de cuenta. Now, in Bank Conciliation you will be able to generate payments and/or relate them to their counterparts in the bank statement.

    To do so follow these steps:

    1. Go to Bank Conciliation and select New Record.

    2. Select Bank account (related to the bank we edited), enter description.

    3. Save your changes.

    4. To create/relate charges to their bank statement counterparts, you can follow two methods:

  • Method 1. If you already have created movements (internal payments) for the bank statement charges.

    • Click on Search Movements and select a Date Range to see the movements created previously.

These movements or internal payments (that will be related to the bank statement) can be generated from the Internal Movements window by entering : a bank account, a receiving bank account, document number, amount and date. This data comes from the bank statement charges.. Now click on Process to complete.

Important: To be able to perform these movements on Internal Movements window, you will need to configurate a business partner (request via ticket or chat) in Organization option. If you prefer to create these charges straight from the bank statement, see Method 2.

  • Now import payments that appear on your bank statement (in csv format). To do so, click on Import File :

    Here you must select a csv file with the charges from the bank statement that you must import (in a csv format, see example below).

Where for every column you must fill:
a) Bank account
c) Amount
d) Payment ID / Reference
e) Description/ Detail

  • Empty this data by using the navigation arrows (to validate) and Confirm.

  • Now select these charges and their counterpart and click on process (gear icon) to complete.

    After this step, you will have established the relationship of expenses and income for this type of position in your organization.

  • Method 2. If you still don't have any Movements/Internal Payments Created for these Charges

    If you still don't have any internal payments (movements) for these bank statement charges, you can generate them easily from the Bank Conciliation window by following these steps:

    • Enter your drafter document (with the bank account and description we created earlier).

    • Click on Import file.

      Here you must import your bank statement charges in a csv file. See example below.

      Where for every column you must fill:
      a) Bank account
      c) Amount
      d) Payment ID / Reference
      e) Description/ Detail

    • Empty these values with the navigation arrows (to validate them) and confirm.

    • Now select any imported charge, click on Diverse Charge and select the one we created earlier for this bank account. Now, click on context menu and select Assign Charge.

    • This will create the counterpart for the charges we selected. Repeat this process if you must.

      To complete this document, click on context menu and select Document Action. Confirm.

      After this step, you will have established the relationship of expenses and income for this type of position in your organization.

Updates :

August 28, 2023.

We hope this improves your Cirrus experience. Remember to share this information and ask for help if you need it.

Date: January, 30, 2023.

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