Bank feeds offer the convenience of bringing in your data for your review. In Ambrook, we have several options for recording your transactions to your accounts, giving you the flexibility to use the method you prefer. Transactions do not affect your statements by default until they are recorded.
Choose a recording method
There are two ways to bring transactions from your connected accounts into Ambrook:
Automatic: Transactions that come in from your bank will be automatically recorded in your bank account on your balance sheet. You can still reconcile these transactions, but they will be automatically recorded to your ledger.
Manual: You can use your Review mode to review any transactions that come in from your connected bank accounts, and you can use this to record or exclude them. This option gives you more control over which transactions affect your statements.
You can select your recording method by going to Settings→Bookkeeping and choosing your recording method by clicking on the pencil.
Once you have set your recording method, you can use Review mode to review transactions as they come in.
Reviewing transactions
Now that you’ve set your recording method, you can head to the Ledger to review transactions. Click on the Review button to the left of the search bar. If you’re recording in Automatic mode, this will filter to uncategorized and uncleared transactions. If you’re reviewing in Manual mode, this will filter to any uncategorized, uncleared, and unrecorded transactions.
There are several actions that you can take when you’re in Review method
1. Record: This records the transaction to your account and will show up in your reporting.
2. Exclude: You can exclude a transaction due to bank error, because it will be included in a journal entry, or to fix an accidental transaction. Note that you can only exclude any transactions that were synced from a connected bank or created manually, or through our import tool.
You cannot exclude transactions that:
Have multiple line items. To exclude these transactions, remove the line items to exclude the whole transaction.
Any payments on invoices. Instead, unmatch these payments and remove the invoice.
Any transaction tagged with a transfer. First untag the transaction, then exclude.
Manually recorded transactions. Instead, delete the transaction.
Internal transfers. Instead, delete the internal transfer.
Journal entries, which can be edited or deleted directly.
3. Tag: Tag transactions that have been recorded but have not yet been categorized.
4. Clear: For checks that you have recorded and have cleared your bank, use the Clear to record the check as hitting your bank.
Leveraging filters while reviewing
To see any transactions that were excluded or recorded, you can leverage the filter functionality to review transactions of interest. By default, excluded transactions will not show up on the ledger and will be removed from reconciliation flow.
Viewing Statements
Recorded transactions affect your book balance (visible in the Balances page, in Exports, and in the Accounting tab). If your organization is in manual review mode, you can choose to include or exclude unrecorded transactions in reports, using the “Include unrecorded” option.