Basics

• Which Transactions Need Document Matching for Bank Reconciliation?

  To complete your bank reconciliation correctly, certain types of transactions require supporting documents. Below is a clear overview of each matching type and whether documentation is needed. 1. Sales Invoice (Incoming Transaction) Document required: Yes You must upload a sales invoice that includes your customer’s details. This allows your accountant to match the incoming payment with the correct invoice. 2. Purchase Invoice (Outgoing Transaction) Document required:Few readers

• Matching Options for Transactions and How to Choose the Right One

  Accurately matching your transactions is essential for maintaining clean financial records, ensuring seamless bookkeeping, tax compliance, and providing a clear overview of your business finances. Below, you'll find various matching options available in Companio, each serving specific purposes. Sales Invoice: Description: Matches incoming transactions with sales invoices issued to your customers. Use for: Match transactions with invoices for digital services or goods delivered byFew readers

• Precision Matching: Understanding Matching Rejections in Companio

  What Is Precision Matching? Precision Matching is an advanced feature within Companio 2.0 that ensures the accuracy of transaction matches before finalizing them in your account. This functionality checks that transaction details align with the accompanying documents based on specific rules, enhancing the reliability of your financial records. How Does Precision Matching Work? Precision Matching applies several rules to validate transaction matches: Internal Movement Matching:Few readers

• Matching Internal Movements Of Funds And Refunds For Personal Expenses

  When matching transactions that are internal movements between accounts belonging to your business, or a refund of a personal expense that you inadvertently paid with your business card, there are some aspects to consider: Matching Internal Movements of Funds Between Accounts Belonging to Your Business As explained here, this type of matching should be used to indicate transfers bFew readers

• How Do I Match Sales Received in Payment Gateways such as Stripe with Invoices and Payouts?

  This FAQ aims to clarify the process of matching bank transactions with invoices in the following scenario: You utilize a payment gateway, such as Stripe, to handle the sales revenue from your customers. This is where you receive your sales. Your company maintains a corporate bank account, for instance, with Wise. Periodically, the payment gateway initiates a payout to your corporate bank account. This payout encompasses all sales from a specific period, minus any associated fees and cFew readers

Troubleshooting

• I Can't Unlink a Transaction That Was Matched as Non-Business Expense by the System

  Why Can’t I Unlink a Transaction That Has Been Matched as "Non-business Related Expenses" by the Accountant? When our accountants certify that a purchase is a non-business related expense, they mark it as such in the corresponding report. This process is essential for maintaining accurate financial records and compliance with tax regulations. Here are the primary reasons why a transaction may be marked and not unlinked: Personal Expense: The transaction is likely a personal expenseFew readers