Bank Reconciliation

Mehtap Sever

Hi everyone,


How can I avoid transactions to mismatch automatically and clear themselves up in FE NXT?

I start doing bank rec. after three months, and I have realized March bank register was mismatched and cleared up with Jan bank feeds automatically, or other way around. 

How can I avoid this chaos to happen?


Thank you in advance,

Mehtap 

Sannyasin Siddhanathaswami

Aloha,


Unfortunately the auto-match part of bank reconciliation in NXT is broken for exactly the reasons you specify. I've worked a ton with Blackbaud to try to get this fixed. They told me next time they do serious work on bank reconciliation they will work on fixing it. I've switched back to FE7 database mode for reconciling. I think it's designed to reconcile once a month, not once a quarter.


I've had a bit of luck working around this issue, by manually un-matching everything from Feb 1 forward while doing January. But, when doing Feb and auto-matching, I also ran into odd time limits on data auto-downloaded from our bank. For example, if you download and match on May 15 for Feb's transactions, the first half of Feb's transactions wouldn't be downloaded from our bank. Basically making it impossible to reconcile.


Sorry for the long-winded, probably too technical reply, but I hope it helps clairfy whats going on. Bottom line: if you reconcile quarterly, switch back to FE7 database mode.


Good luck! 

Mehtap Sever

Hi Sannyasin,


Thank you for your kind response. I have another question.


What is the best practice of clearing multiple transactions on both sides (bank feeds and bank register)? 

I was not allowed by FE NXT to select multiple deposits on bank feeds and bank register at the same time to clear necessary transactions.

I would appreciate if you share your experience on this matter. 


Thank you,

Mehtap

 

Sannyasin Siddhanathaswami

Aloha Mehtap!


Basic answer is you can't. I've also explained this to the kind Blackbaud folks, and I'm sure they will fix it next time.


In the meantime, you basically have two workarounds.


First, is to go to the Reconciliation tab (far right tab when reconciling in NXT). There you can manually check off items. It's funky though, and mainly works well for multiple entries that add up to zero (I suspect I'm not the only one that has adjustment entries on the bank register). It does work for the rest of the transactions but is really more of a manual bank reconcile.


The second way works in some cases, and is to sort of fake it in the bank reconciliation by checking off two sets of transactions at once.


Sorry, I can't be of more help. There's some very important things to fix in NXT reconciliation before I can use it again.


Best of luck!

 

Twila Moore

Does anyone else have the issue with not being able to match multiple entries on each side?

Sannyasin Siddhanathaswami

Twila Moore:

Does anyone else have the issue with not being able to match multiple entries on each side?

Yeah. It basically was one of the reasons we switched back to reconciling in Database mode. When Blackbaud comes around again to fixing/improving NXT reconciliation, I'll try again and bring up all the issues again.