Banking: Import a Bank Statement

Banking: Import a Bank Statement

Notes
You have two options to import transactions into PropWorx: using the bank statement import or manually entering the transactions (see article: Banking: Load Manual Transactions). 

1. Click on Accounting on the Main Menu.


2. Click on Banking



3. On the main ribbon bar, select the New Transactions.



4.  New Transaction screen will open. 

5. Select the Cashbook (or the Bank) from the drop-down menu



6. Click on Import Bank Statement button.



7. Click on browse to search and select the saved bank statement. Click on Save.



8. Transactions will be imported and appear on the bank statement table. 



9. If required: Allocate transactions, split transaction and create transaction rules.
10: When ready, proceed with processing the transactions.  Optional: type in the bank closing balance.



11. Select the transaction rows by ticking them.
12. Initiate the processing by clicking the Process button.


Alert
Note: If the closing balance is filled in, PropWorx will perform an auto bank reconciling.


13. The transaction will be processed and recorded in the designated file.

Allocate unallocated transactions.

1.  Click on “not allocated…(select file)” on the transaction row.



2.  Search and select file by clicking on the file name.



3. The transaction will be assigned to the chosen file.



Split a Transaction

1.  Click the action icon () on the transaction row and select “Split Transaction” from the menu.



2.  Manage Split Transaction screen will open. Under the Split Transaction section, select the file on the split row. 



3. Search and select file by clicking on the file name.


4. The file will be assigned to the split row. 
5. Type in the Description and Amount. 
6. If required: Add the VAT and tick to show in tenant statement.


7. Click on the Add button () to load the split row. Repeat step 2 until all split's rows are added. To modify any rows, click the remove button () to remove the split row. 



8. Once the Remaining Balance reaches zero, click Save Split to record the split transactions.



9. The split will be saved, and on the main screen, the original transaction will disappear and only display the split transaction in green.



10. Optional: To modify the transactions, click the action icon () on the transaction row:
  1. To Edit split click on “Edit Split Transaction”.
  2. To delete the split group and restore the original transaction, choose “Delete Split Group.”

Delete Transactions

1.  Enable the Turn on Delete mode from the main heading.



2.  Select the transaction rows by ticking them and click on Delete button.



3. Selected transactions will be deleted from the bank import screen. 


Create Import Rule

Warning
Warning: Avoid Conflicting Rules

It is important to avoid creating conflicting rules, as they can cause issues with the find and replace function. Conflicting rules occur when multiple rules attempt to modify the same part of a transaction in different ways, leading to unexpected or incorrect results.

To prevent conflicts:
  1. Use Only Necessary Rules: Only implement rules that are essential for your specific requirements. This minimizes the chance of overlap.
  2. Check for Overlapping Conditions: Ensure that no two rules are targeting the same part of a transaction unless they are meant to work together. For example, if one rule removes a word that another rule relies on, the second rule will not function correctly.
  3. Test Your Rules: After setting up your rules, test them with sample data to make sure they work as intended and do not interfere with each other.


1.  To create Import rule, click on Import Rules Button from the main heading.



2.  Click Add () button. Fill in the required details:



3. Click Update () button to create the rule. 
4. Close rule screen.
5. If required: Click on Run Rules button. Rules will run and allocate transactions. 






Using Wild Cards in Import Transaction Rules for Banking


Wild Cards in the Import Rules help you identify patterns of words or characters that may vary slightly, allowing for flexibility when searching for specific transactions. They are especially useful when you need to capture multiple versions of a similar term. For instance, you may need to find entries like RENT001, RENT002, RENT111, and more, where the common part is RENT and the numbers at the end vary.

In this scenario, RENT is the fixed segment, while the numbers are variables that can change. By using a Wild Card symbol, you can define a broader search that captures all relevant entries. The Wild Card symbol (*) can represent any sequence of characters. So, to find all transactions related to RENT, you would use RENT*, which means "find everything that starts with RENT regardless of what follows."

Here are some examples:

RENT* will find RENT001, RENT002, RENT111, etc.

UTIL* will find UTIL01, UTILITIES-APR, UTIL-BILL, etc.

Wild Cards are a powerful tool to automate and simplify your banking transaction import process, ensuring that all relevant entries are easily matched and categorized, even if there are small variations in the text.

Examples: Please note that the word (SPACE) is an actual space and not the word space
 
Example 1: Finding a string of words with wild cards, up to and including the first space, and replacing with nothing. It will only remove that section and not the whole sentence string. 
String to find: FNB OB 0*(SPACE)
Replace with: 

Transaction Description: FNB OB 0000005164 RENT001
What it will change it to: RENT001
 
Example 2: Finding a string of words with wild cards, up to and including the first space, and replacing with another word. It will only remove that section and not the whole sentence string. 

String to find: FNB OB 0*(SPACE)
Replace with: RENTAL RECEIVED (SPACE)
 
Description: FNB OB 0000005164 RENT001
What it will change it to: RENTAL RECEIVED RENT001
 
Example 3: Finding a string of words with wild cards, and everything after the * (no space used), and replace with nothing. It will also remove everything after the *
 
String to find: FNB OB 0*(NO SPACE)
Replace with: 
 
Description: FNB OB 0000005164 RENT001
What it will change it to: 

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