Lumary AH - This article will explain uploading bank statements, matching transactions to outstanding invoices or already recorded payments, and the automated generation of payments in Lumary for matched transactions.
This feature currently does not handle transactions from credit card payment gateways or refund transactions. These transactions should be ignored in the matching process and handled manually.
The process of performing Bank Reconciliation using Lumary is as follows:
- Upload your bank statement
- Automated ignoring of transactions
- Automated matching
- Manually match remaining transactions
- Verify and validate ignored, auto-matched and manually matched transactions
- Approve all matched transactions for payment generation
- Finalise your bank statement
- Auto-generated payments and payment assignments