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Online Bank Reconciliation

Online Bank Reconciliation lets you connect a bank feed, match imported bank activity to transactions in Property Matrix, and create missing entries when needed.

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Written by Bill Cheng

Accounts linked to checking accounts and credit cards will have a Reconcile tab on the account page.

Connect the Bank Feed

  1. Open the account you want to reconcile.

  2. In the Reconcile tab, click Connect bank feed.

  3. If prompted, you can connect your phone number to make future logins faster.

  4. Select the financial institution your bank account is connected to.

  5. Select the account that contains the bank statements.

  6. Click Continue.

Match Transactions

Under the Match tab, Property Matrix will use AI to try to match your bank statement activity with existing transactions in the system. If a transaction is matched correctly, you can review it and complete the reconciliation.

If AI does not find a match, click Create to reconcile the transaction manually.

Create a Transaction Manually

When using Create, choose the scenario that best matches the bank activity.

Option 1: Create Transaction + Payment

Use Create transaction + payment if the transaction has not been created yet in Property Matrix.

This option creates the transaction and immediately records the payment against it. If direct deposits are not set up, you can also add the deposit here.

Option 2: Receive Payment

Use Receive Payment if the transaction already exists in Property Matrix.

  1. Select Receive Payment from the Scenario dropdown.

  2. Select the transaction you want to match the payment to.

  3. Property Matrix will populate the payment details.

Option 3: Create Funds Transfer

Use Create funds transfer if the bank statement reflects a transfer between two accounts.

  1. Select Create funds transfer from the Scenario dropdown.

  2. Enter the transfer details.

  3. The selected account will act as either the sending or receiving account depending on the statement.

Finish the Reconciliation

After reviewing or entering the transaction details:

  1. Click OK to complete the reconciliation.

  2. The statement will be removed from the active reconciliation tab.

  3. The bank activity will be linked to the related transaction in Property Matrix.

Skip a Statement

If you do not want to reconcile a statement right away:

  1. Click Skip.

  2. The statement will be removed from active review.

  3. You can still view and reactivate skipped statements later.

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