Bank Reconciliation – Mark as match and approve

Its my first time to do bank recon in Bullet HQ for Paypal and AIB account.  When I match the imported bank transaction to that of Bullet, can I match this to a Bill (in case of bank payment)?  Does matching and approving the bank transaction vs. a Bullet Bill have effect on the ledger as crediting the Paypal account in case I am reconciling PayPal?  Or should I reconcile the imported bank transaction against the recorded Bullet Payment?

  1. Peter Connor October 13, 2015
    Hi Baby Q,

    We've got a new live support function. If you click the (?) in the top nav you'll get live chat with the team.

    I'll pass your question onto our technical team. Tks

1 answer

john_bullet Staff October 13, 2015

Hi Baby_Q!
In general, you can only reconcile items with payments.  However, that can be a bit of a pain so have to mark something as paid before doing the reconciliation.  Bullet allows a “short-cut” where you can reconcile items against unpaid Invoices/Bills and we will automatically record a payment matching the bank statement and reconcile against that payment.  You will see the debit/credit against your bank account for the payment after we automatically create it.  There shouldn’t be a different between reconciling against the Bill or the Bill Payment (if I’ve understood your question correctly)

  1. Hi john_bullet, yep, you got my question perfectly. Its awesome to know that I can both reconcile Bill (if the bill is not yet marked as "Paid" in Bullet) or Bill Payment (when the Bill is not yet marked as Paid in Bullet) against imported bank statement. Obviously, this work this way but just need confidence to do so. Thanks heaps !
  2. Sorry, I mean... .".... Bill Payment (when the Bill is not yet marked as Paid in Bullet)" this should be to mean When the Bill is already marked as Paid in Bullet. Thanks :)

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