📍 Where can I find this module?
Main menu > Finance
Introduction #
The Banking Transactions module centralizes all transactions recorded in your business bank accounts. These transactions can be imported automatically via a banking API connection or manually via an OFX file. They are accessible via Finance > Bank Transactions.
Bank transactions are at the heart of the bank reconciliation process: they are matched with accounting documents (invoices, payments, manual entries) to verify that your accounting records match your bank statements.
1. Details of a bank transaction #
Each transaction records the following information:
Transaction:
- Bank account: the relevant business account
- Date: the date of the transaction
- Amount: the amount of the transaction (positive for a credit, negative for a debit)
- Description: The transaction description as it appears on the bank statement
- Simplified description: a streamlined version of the text for easier reading
- Transaction type: the type of banking transaction
- Transaction ID: the unique identifier for the transaction
Status:
- Active: indicates whether the transaction is being processed
- Coming soon: indicates a transaction awaiting processing by the bank
- Reconciliation: the link to the associated bank reconciliation, if applicable
Amount in currency:
- For transactions in foreign currency, the original amount and currency are retained
2. Importing transactions #
Transactions can be populated in two ways:
- Bank API connection: automatic synchronization with your bank. Transactions are retrieved regularly, along with their date, amount, and description
- Importing an OFX file: Manually import an OFX (Open Financial Exchange) file exported from your online banking portal
Good to know: During the import process, Kafinea automatically detects duplicates using each transaction’s unique identifier, thereby preventing duplicate imports.
3. Bank reconciliation #
Bank transactions are used in the bank reconciliation process, accessible via Finance > Accounting > Bank. This process involves linking each transaction to one or more accounting entries (payments, invoices, manual entries) to ensure that your accounting records accurately reflect the actual activity in your bank account.
For more details on bank reconciliation, visit the Bank Reconciliation page.
4. Frequently Asked Questions #
Can bank transactions be edited?
The main details (amount, date, original description) cannot be edited because they come from the bank. The comment and certain status fields can be modified.
How do I handle a transaction that isn't showing up?
Check that the API synchronization is up to date (field Last Updatefield). If you are using OFX import, make sure the file’s time period covers the date of the transaction you are looking for.
What does the "Pending" status mean?
This refers to a transaction that has been reported by the bank but has not yet been finalized. It will be automatically updated during the next synchronization.