Note that clearing the bank is only applicable for Briefcase Ledger working papers. This step is NOT included in Working Papers for Connect (Xero)
The goal of this step is to handle all unreconciled bank transactions. Each transaction can be handled in the following ways:
- Match to invoice: if there is an invoice which matches the bank transaction, matching the bank transaction to the invoice will be suggested.
- Cash coding: if there is no invoice which matches the bank transaction, you can cash code the bank transaction. If the invoice is eventually uploaded you can simply reconcile the invoice in the bank transaction at that point and this will automatically reverse the cash coding.
- Request paperwork: if there is no invoice which matches the bank transaction, instead of cash coding, you can request paperwork from the client for the missing invoice.
Briefcase will suggest the most appropriate action for each of the transactions so you can handle each transaction in one click:
Once all bank transactions are cleared, this section is complete!
