Neat Reconciliation Experience

Please Note: You must be on an active NeatBooks subscription or a NeatComplete subscription in order to take advantage of the features in this article.
The introduction of reconciliation in Neat's software is the pivotal shift that will truly transition Neat into becoming not only a bookkeeping tool, but a bookkeeping tool unlike any other currently on the market! Check out the below lists of FAQs and How-Tos to learn all about reconciliation in Neat!

Reconciliation FAQs


Getting Started

What is reconciliation?

Reconciliation is the process of ensuring that two sets of records match. It is used to make sure that the amount of money leaving an account matches the amount of money that was actually spent. This is done by making sure the account balances match at the end of an accounting period.

In Neat, this is accomplished by streaming your financial account transactions into Neat, capturing the physical record of the transaction through mobile upload or import, then matching the streamed transaction to the physical record to mark a transaction as reconciled. Once all transactions for each account are marked as reconciled for a period, the period would be considered reconciled.

How does Neat’s reconciliation experience differ from others?

  • Neat's version of reconciliation will include reconciliation action buckets that eliminate the guesswork around 'what do I still need to do to reconcile my books?'
  • For the first time, users will have the ability to reconcile their books on-the-go, wherever and whenever they would like! This is revolutionary not only for Neat, but for bookkeeping systems as a whole.
  • Neat includes a reconciliation Dashboard which serves as an overview of all the accounts that need to be reconciled.
  • Neat includes a Detail View for an account-specific view of the transactions and activity to be reconciled.

What are the reconciliation feature requirements?

How do I get started with reconciliation?

First, make sure you meet the feature requirements above. Once met, you will go through a quick first-time reconciliation set up process. This includes:
  • Establishing the start date of the accounting period that you wish to reconcile. Steps here!
  • And selecting the accounts you wish to include in reconciliation. Steps here!

How do I establish the reconciliation period start date?

  1. Click on the reconciliation tab in the left-hand navigation bar.
  2. Next, use the Month & Year drop-down list to select the start date from which you wish to start reconciling.
    Please Note: The reconciliation start date cannot be changed once set.
  3. Click Confirm Start Date to set your start date.

How do I select/manage the accounts I want to include in reconciliation?

  1. After you select your reconciliation start date, you will be brought to the account selection window. If you don't see the account selection window, then click the gear icon to the left to open it.
    Neat Tip: You can click the gear icon at any time to edit which accounts you want to include in reconciliation for each month!
  2. The account selection window presents you with a list of all your accounts available for reconciliation. Choose which accounts you want to reconcile by toggling the switch to the right of each account to On (or blue).
    Please Note: If you don't select any accounts, then the reconciliation period will be marked as 100% reconciled.
  3. Click Close once you are done making changes.


    Now you can begin reconciling your accounts!

What is the Neat Reconciliation Dashboard?

The reconciliation dashboard reveals at quick glance which periods and accounts still need to be reconciled.
  1. Reconciliation Period Timeline
    Starting with the reconciliation start date you chose during set up, see a timeline of all reconciliation periods (months). Each period shows a reconciliation status indicating whether the period is closed or if work still needs to be done. Use the blue arrows to the left and right of the periods to browse through all periods.
  2. Reconciliation Status Key
    The reconciliation status key defines what each reconciliation status icon means.
    • The green Closed icon indicates that the reconciliation period has been reconciled 100% and has been marked as closed.
    • The blue Open icon indicates that the reconciliation period is still open and requires action.
    • The orange Ready to Close icon means that the reconciliation period has been reconciled 100%, but still requires that you mark the period as closed.
  3. Map Vendors
    A new feature to support Neat's bookkeeping experience is Vendor Mapping, which allows you to map Chart of Accounts categories to vendors in yout transactions for streamlined organization.
  4. Chart of Accounts
    A new feature to support Neat's bookkeeping experience is the Chart of Accounts, which provides a complete listing of all accounts available in Neat to record transactions.
  5. Account Selection Window
    Click on the gear icon at any time to edit the accounts you see in the account tiles for each period.
  6. Account Tiles
    You will see an account tile for each of the accounts that you selected in the accounts selection window. Each account tile quickly shows you the name and type of the account, how recently the account has been updated, the accounts reconciliation status, and the percentage reconciled. Click on any account tile to see a detailed view of the account and activity.
  7. Period Reconciliation Percentage
    At a glance, see how much work is left to do to mark a reconciliation period as closed. The percentage will increase as you reconcile transactions and mark your accounts as closed.

What is the account detail view?

The account detail view reveals at a quick glance the account reconciled percentage and period activity. The account detail view shows you what items still need to be worked on by grouping different types of transactions into easily digestible action buckets.

  1. Account Reconciliation Period Timeline
    Starting with the reconciliation start date you set during set up, see a timeline of all reconciliation periods (months). Each period shows a reconciliation status indicating whether the account is closed or if work still needs to be done. Use the blue arrows to the left and right of the periods to browse through all periods for the account selected.
  2. Reconciliation Status Key
    The reconciliation status key defines what each reconciliation status icon means.
    • The green Closed icon indicates that the account has been reconciled 100% and has been marked as closed.
    • The blue Open icon indicates that the account is still open and requires action.
    • The orange Ready to Close icon means that the account has been reconciled 100%, but still requires that you mark the period as closed.
  3. Map Vendors
    A new feature to support Neat's bookkeeping experience is Vendor Mapping, which allows you to map Chart of Accounts categories to vendors in yout transactions for streamlined organization.
  4. Chart of Accounts
    A new feature to support Neat's bookkeeping experience is the Chart of Accounts, which provides a complete listing of all accounts available in Neat to record transactions.
  5. Period Activity
    Reveals the accounts net profit based on the debit and credit transactions streamed into your account.
  6. Quick Links
    Click on View All Accounts to go back to the reconciliation dashboard.
  7. Account Selection
    This box shows you which account you are viewing details for. Click the blue arrows to the right and left of the account to browse through all the accounts selected for that reconciliation period.
  8. Account Reconciliation Percentage
    Reveals how much work is left to do to mark an account as closed for a reconciliation period. Click on any unreconciled transactions to start reconciling them.
  9. Suggested Matches Action Bucket
    A filter that groups all transactions that Neat has identified as having a matching receipt in your database.
  10. Refunds & Credits Action Bucket
    A filter that groups all refund and credit transactions streamed in from your account together.
  11. Deposits Action Bucket
    A filter that groups all deposit transactions streamed in from your account together.
  12. Other Unreconciled Action Bucket
    A filter that groups all other remaining transaction types together.

How do I reconcile my accounts?

In order to reconcile your accounts, make sure that you have completed the following steps first:
  • Connected at least 1 financial account to Neat for transaction streaming. Steps here!
  • Completed the first-time reconciliation set up process. Steps here!
Once your account has been set up, you can begin reconciling your accounts by following the steps below:
  1. Get the physical copy of your records into Neat.
  2. Match your streamed transactions to your physical documents.
    • From the reconciliation tab, click on the account you want to reconcile.
    • Click on any of the action buckets or the 'unreconciled' items.
    • Review each of your unreconciled transactions and select a match for each.

      For a full description of transaction matching and matching FAQs, please review this article.
  3. Save each transaction as reconciled.

  4. Close the account.
    • Once all transactions for a specific account and period are matched and saved as reconciled, the account will show a 100% reconciled percentage and will update to the 'Closed' status.
  5. Done! You've successfully reconciled one of your accounts.
    Complete these steps for each one of your accounts for the reconciliation period. Once all accounts have been closed, the reconciliation period status will update to 'Closed'.

How do I bulk reconcile my transactions?

  1. Select the transactions you want to bulk edit, then click Bulk Edit at the bottom of the transactions grid.
  2. At this time, the only categories you can bulk edit are:
    • Vendor
    • Category
    • No Source Document
    • Save as Reconciled
    To bulk reconcile your transactions, place a check mark in the Save as Reconciled box. Then click Next.
  3. In the next window, review and confirm your changes, then click Next to continue.
    Please Note: When bulk reconciling, any transaction that doesn't have a match will automatically be updated to No Source Document. This is because a source document is required in order to mark a transaction as reconciled.
  4. You will be presented with a confirmation window once the changes have been made.
    Please Note: In order to mark a transaction as reconciled, the transaction must have a:
    • Vendor
    • Category
    • Source Document
    If your transactions are missing any of these during the bulk edit process, you may see a message instead that Neat was unable to make the changes due to missing fields.

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