Bank Reconciliation
Match bank transactions with invoices and payments automatically
Bank reconciliation is the process of matching transactions on bank statements with accounting entries in the system. Odoo provides powerful reconciliation tools with AI matching to automate this process.
With the ability to import statements from multiple formats, intelligent automatic reconciliation and intuitive interface, Odoo helps businesses save time and ensure accuracy of accounting books.
Reconciliation Terminology
Basic Terms
| English | Vietnamese | Description |
|---|---|---|
| Bank Statement | Sao kê ngân hàng | Transaction list from bank |
| Statement Line | Dòng sao kê | One transaction on statement |
| Reconciliation | Đối chiếu | Match transaction with entry |
| Auto-match | Khớp tự động | System automatically matches |
| Reconciliation Model | Quy tắc đối chiếu | Automatic matching rule |
| Discrepancy | Chênh lệch | Difference between statement and books |
| Ending Balance | Số dư cuối | Ending balance on statement |
Basic Reconciliation Process
Bank reconciliation process includes:
Steps
1. Import bank statement from file or automatic integration
2. System automatically matches transactions with invoices/payments
3. Review automatically matched transactions
4. Manually reconcile unmatched transactions
5. Create entries for special transactions (fees, interest)
6. Confirm reconciliation when balance matches
7. Close statement and update bank balance
Import Bank Statement
Access: Invoicing → Accounting → Bank Reconciliation
Steps
1. Select bank account to reconcile
2. Click "Import Statement" or "New Statement"
3. Select import method:
4. - Upload file: CSV, OFX, QIF, CAMT
5. - Manual entry: Enter line by line
6. - Automatic integration: Connect bank API
7. Select statement file and upload
8. System analyzes and creates statement lines
9. Check opening and closing balances
Statement File Formats
Supported Formats
| Format | Description | Common Banks |
|---|---|---|
| CSV | Comma-separated Excel file | Most banks |
| OFX | Open Financial Exchange | Vietcombank, Techcombank |
| QIF | Quicken Interchange Format | International banks |
| CAMT.053 | ISO 20022 format | European banks |
Auto-reconciliation
System automatically matches transactions based on:
Key points
• Amount: Exact match of transaction amount
• Reference: Invoice number, payment code in description
• Partner: Customer/supplier name
• Transaction date: Within reasonable timeframe
• AI Learning: Learn from previous reconciliations
• Custom rules: User-created rules
Manual Reconciliation
Handle transactions not automatically matched:
Steps
1. Open bank statement
2. View list of unreconciled lines (yellow)
3. Select a line to reconcile
4. System suggests matching invoices/payments
5. Select invoice/payment to match
6. Check amounts match
7. Click "Validate" to confirm
8. Line turns green (reconciled)
Reconciliation Models
Create automatic rules for recurring transactions:
Access: Settings → Accounting → Reconciliation Models
Steps
1. Click "New" to create new rule
2. Enter rule name: e.g., "Bank Fees"
3. Select type: Auto-reconcile or Suggestion
4. Set matching conditions:
5. - Label contains: "TRANSFER FEE"
6. - Amount between: 0 - 50,000
7. Configure automatic entry:
8. - Debit: Bank Fees (641)
9. - Credit: Bank Account
10. Save and activate rule
Types of Reconciliation Rules
Rule Types
| Type | Description | Example |
|---|---|---|
| Invoice Matching | Match with invoice | Customer payment |
| Payment Matching | Match with payment | Supplier payment |
| Write-off | Write off small difference | Exchange difference < 1,000 |
| Manual Entry | Create manual entry | Bank fees, interest income |
Handle Special Transactions
Transactions not related to invoices:
Steps
1. Bank fees: Create entry Debit Bank Fees, Credit Bank
2. Interest income: Create entry Debit Bank, Credit Interest Income
3. Internal transfer: Match with Internal Transfer
4. Cash withdrawal: Create entry Debit Cash, Credit Bank
5. Exchange difference: Record in Exchange Gain/Loss
6. Error transaction: Mark for later processing
Handle Discrepancy
When amounts do not match exactly:
Steps
1. Small difference (< 1,000 VND): Use Write-off
2. Configure Write-off account in Settings
3. System automatically creates adjustment entry
4. Large difference: Recheck statement and invoice
5. Contact bank if there are errors
6. Create manual adjustment entry if needed
Reconcile Multiple Payments
One bank transaction matches multiple invoices:
Steps
1. Select statement line
2. Find and select multiple invoices to match
3. Total invoice amount = transaction amount
4. Click "Validate" to reconcile
5. System creates one payment matching multiple invoices
Confirm and Close Statement
Complete reconciliation:
Steps
1. Check all lines are reconciled (green)
2. Confirm ending balance matches bank statement
3. Click "Validate" or "Close Statement"
4. System locks statement - cannot edit
5. Update bank account balance
6. Create reconciliation report
Automatic Bank Integration
Connect directly with bank (Enterprise):
Steps
1. Install account_online_sync module
2. Go to Settings → Accounting → Bank Synchronization
3. Select bank and connect
4. Authenticate bank account
5. Configure sync frequency (daily, hourly)
6. System automatically downloads statements and reconciles
7. Receive notifications for new transactions
Multi-bank Reconciliation
Manage multiple bank accounts:
Key points
• Create separate journal for each bank account
• Reconcile each account independently
• View balance overview of all accounts
• Consolidated cash flow report
• Transfer between accounts
• Centralized management from dashboard
Reconciliation Reports
Related reports:
Key points
• Bank Reconciliation Report: Detailed reconciliation report
• Outstanding Payments: Unreconciled payments
• Bank Balance: Bank balance over time
• Cash Flow Statement: Cash flow report
• Reconciliation Summary: Reconciliation summary by period
Best Practices
Steps
1. Reconcile bank regularly (weekly or monthly)
2. Create reconciliation rules for recurring transactions
3. Check and process unmatched transactions promptly
4. Save original statement files in Attachments
5. Train AI by accurate manual reconciliation
6. Review reconciliation rules regularly to optimize
7. Backup data before large reconciliations
Common Error Handling
Errors and Solutions
| Error | Cause | Solution |
|---|---|---|
| Cannot import file | Wrong format | Check CSV/OFX format, configure mapping |
| Balance mismatch | Missing transaction | Recheck statement, find missing transaction |
| Invoice not found | Invoice not posted | Post invoice before reconciliation |
| Duplicate transaction | Imported multiple times | Delete duplicate statement, re-import |
Optimization Tips
Steps
1. Use invoice number in transfer description for easy matching
2. Ask customers to include order code when transferring
3. Configure reasonable Write-off limit (e.g., 1,000 VND)
4. Use batch reconciliation for many small transactions
5. Create rules for frequently paying partners
6. Auto-sync to reduce manual work
Access Rights
Bank reconciliation permissions:
User Groups
| Group | Permissions |
|---|---|
| Accountant | Reconcile, create rules, view reports |
| Billing | View only, no reconciliation |
| Advisor | Full access: configure, reconcile, reports |