Reconciling a Bank Statement

Once you have imported your bank statement you will be taken to the Reconcile screen where the software will attempt to match all of your bank statement entries against transactions in Landlord Vision.

On the left hand side is the imported bank statement and on the right hand side are the transactions it has attempted to match.  Review the matches and click OK if they are correct.  These transactions are now reconciled.  For the ones that do not reconcile, please see this video.

If one Landlord Vision transaction relates to several bank statement entries, or if you have received more than the required rent, please see this video.

The reconciliation process

Landlord Vision uses the date and the amount to match transactions.  As some transactions may not occur on the same day as they are put in Landlord Vision due to weekends and public holidays, there is a three day leeway either side for matches.  Amounts must be correct to the penny however.  It will then use the Reference as a best fit if there is more than one potential match.

Statement Balance and Account Balance

The objective is to make the Statement Balance and the Account Balance match at the point where all of the transactions have been reconciled.  The Statement Balance is the total amount of imported transactions on the statement.  The Account Balance is the total amount of payments recorded in Landlord Vision, reconciled or otherwise.

Hiding entries off the Reconcile screen

All unreconciled bank statement entries will appear on the Reconcile screen. If you don't want to see certain entries, go to the Bank Statement tab and delete either the entry off the bank statement, or the whole statement itself.  You can always re-import them later.

Matching incomes and expenses into a single payment

You can only match transactions marked as RECEIVED to income and those marked as SPENT to expenses.  If you have incomes and expenses on a letting agent statement that you are trying to reconcile as a single payment, please see this guide.

Reconciling Underpayments

If your tenant has paid less than the required rent, you can still enter this.  Please watch this video of the process.