GoldFinch Bank Reconciliation helps organizations compare bank activity with accounting transactions and verify that cash balances are complete and accurate.
With Bank Connect, organizations can import available banking transactions into GoldFinch Accounting for review and matching. Authorized users can investigate differences, create appropriate accounting transactions, and complete reconciliations directly within Salesforce.
Bank Reconciliation
Bank Reconciliation provides a structured process for comparing transactions recorded in GoldFinch Accounting with activity reported by a financial institution.
Authorized users can reconcile:
- Customer receipts and deposits
- Vendor payments
- Checks and electronic payments
- Bank fees
- Interest income
- Transfers between bank accounts
- General Ledger entries affecting cash
- Other deposits and withdrawals
This process helps confirm that recorded cash activity agrees with the bank statement and that outstanding transactions are properly identified.
Bank Connect
Bank Connect reduces manual data entry by bringing available bank activity into GoldFinch Accounting.
Depending on the financial institution and the organization’s configuration, Bank Connect can help users:
- Retrieve available bank transactions
- Review imported deposits and withdrawals
- Match bank activity with existing GoldFinch transactions
- Identify unmatched or potentially duplicated activity
- Create accounting transactions for appropriate unmatched items
- Maintain a connection between bank activity and accounting records
Bank connections and supported functionality may vary by financial institution.
Transaction Matching
Users can review imported bank activity and match it against recorded accounting transactions. Matching criteria may include information such as:
- Transaction date
- Amount
- Reference or check number
- Description
- Bank account
- Customer or vendor information
Users review suggested or potential matches before completing the reconciliation process.
Managing Unmatched Transactions
When a bank transaction does not match an existing GoldFinch transaction, authorized users can investigate the difference and take the appropriate action.
Depending on the nature of the activity, users may create or record:
- Customer receipts
- Vendor payments
- Bank fees
- Interest income
- Transfers
- General Journal entries
- Other cash transactions
Financial transactions should be reviewed and approved in accordance with the organization’s accounting policies.
Multiple Bank Accounts and Companies
GoldFinch supports organizations that maintain multiple bank accounts, companies, currencies, or General Ledgers.
Each bank account can be associated with the appropriate accounting structure, helping users reconcile activity and report cash balances for the correct company and currency.
Available capabilities depend on the organization’s configuration.
Visibility and Financial Control
Because Bank Reconciliation and Bank Connect operate within Salesforce, authorized users can review bank activity, related accounting transactions, supporting information, and reconciliation status in one connected environment.
This can help organizations:
- Reduce manual transaction entry
- Identify missing or duplicated transactions
- Monitor unreconciled bank activity
- Maintain accurate cash balances
- Improve month-end closing
- Strengthen review and approval controls
- Preserve a traceable reconciliation history
Security
The organization’s configured Salesforce security and GoldFinch permissions govern access to bank information and reconciliation functions.
GoldFinch Bank Connect does not store users’ online-banking usernames or passwords in Salesforce. Connections are established through the configured banking integration provider, subject to the provider’s supported institutions, security practices, and service availability.
Availability
Bank Reconciliation is part of the applicable GoldFinch Accounting configuration. Bank Connect is an optional module and may require a supported third-party banking service.
GoldFinch can help evaluate institution compatibility, connection options, and implementation requirements.
Related Capabilities
Explore other GoldFinch Accounting capabilities:
- General Ledger
- Accounts Receivable
- Accounts Payable
- Cash Management
- Financial Reporting
- Financial Closing
- Multi-Company and Multi-Currency Accounting
Detailed connection instructions, matching procedures, configuration guidance, and troubleshooting resources are available to signed-in GoldFinch customers and approved partners.
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