Reconciliation best practices

Reconcile in a multi-entity company

Reconcile the account within the level or entity in which it was created. For example, if you created the account at the top level, reconcile at the top level. If you created the account in an entity, slide into that entity to reconcile.

Set up entity and user restrictions correctly so that the appropriate user can transact against and reconcile the appropriate accounts.

Import transactions

Use Bank transaction assistant file import for reconciliation.

Although you can currently use the classic import experience, this method is going away no earlier than May 2026. This change does not impact any custom integrations that use the Intacct API.

Perform soft or "daily" reconciliations by uploading multiple files over time.

Switch reconciliation modes (import to bank feeds, or bank feeds to import)

If the account you're reconciling is connected to a bank feed, importing a CSV or QIF file using the classic file import experience overrides any existing matching done by a bank feed and bank feed transactions are removed from Intacct.

Use Bank transaction assistant file import to import transactions that are missing from a bank feed without overwriting your reconciliation progress.

Create rules and rule sets

Within a rule set, order the included rules so that the most specific rule runs first. Make sure that any creation rules run last in the rule set. The rule set first filters for and consider all available transaction to match. Then, if there are any transactions that are missing matching transactions, Intacct creates a new transaction.

Example

Within a rule set, group matching rules first, and group creation rules last.

Matching rules

Order	Range	Using filters	Match on amount	Match on document number	Match on exact date	Match on date within
1	Narrow	Yes	Required	Yes	Yes	No
2	Narrow	Yes	Required	Yes	Yes	No
3	Narrow	Optional	Required	Yes	No	within 3 days
4	Wide	Optional	Required	No	Yes	no
5	Wide	Optional	Required	No	No	within 3 days

Creation rules

Order	Range	Filter on bank transactions	Filter on Intacct transactions	Using multiple filters
6	Narrow	Yes	Yes	Yes
7	Narrow	Yes	Yes	No
8	Narrow	Yes	No	Yes
9	Wide	Yes	No	No

Learn more about rules and rule sets.

Foreign currency banks

Create or record transactions with your foreign currency bank only in that bank's currency. For example, with a Canadian bank you should generally transact only in Canadian dollars. This enables you to reconcile all transactions correctly to your bank statement.

If you accidentally enter a General Ledger journal entry to your Canadian bank account in a transaction currency other than Canadian dollars, that transaction will not appear for bank reconciliation. You’ll have to account for such a transaction manually in your bank reconciliation process.

Your bank might use an exchange rate that differs from how you record transactions in your accounting system. In this case, adjust the exchange rate differences by booking a GL journal entry for your bank reconciliation to complete your month-end bank reconciliation.

Disconnect from a bank feed

Only disconnect a bank feed in the following scenarios:

You selected the wrong bank to connect to.
You do not want to use a bank feed for this account anymore.
You need to log in to your account using a different login user name.

If you disconnect and change your mind, the reconnection process can take weeks to complete. If you're having trouble refreshing a bank feed, do not disconnect the bank feed. Instead, wait until you see a bank feed status of Partial success or Failed and refresh the bank feed.

If you do decide to disconnect an account, Sage Intacct removes any unreconciled and unmatched bank feed transactions for that account. Any matched transactions become unmatched and the bank transactions are removed from Sage Intacct.

Reopen a reconciliation

Before you reopen a reconciliation, save a record of your cleared and open items. Go to the Reconciliation histories page and generate a Reconciliation report and an Outstanding items report. Make sure to note the statement ending balances.

After you reopen a reconciliation, re-reconcile for that period and any later periods. For example, if you're in the month of August and reopen the reconciliation from June, re-reconcile for June and July.

You cannot undo reopening a reconciliation.

Learn more about reopening a reconciliation or watch a video.