Processing Transactions from the Bank Integration

After you set up a Bank Integration, transactions to or from the linked accounts will automatically begin appearing in the Todo section of your Ledger Overview as Pending Transactions. These serve as a starting point for recording your transactions in Ledger, requiring review and completion before posting. Because of how banks record transactions, manual steps are always required.

⚠️ Beta Feature: This feature is currently in Beta and may be refined as updates are released.

Key Rules and Considerations

• Double-entry accounting requirement
  Church360° Ledger enforces double-entry accounting. Each transaction must include at least two line items:
  • One debit
  • One credit
• Bank data is partial
  The bank integration only supplies the entry affecting the linked account. Users must add the corresponding offset account(s) to balance the transaction.
• Offset accounts
  Correct selection of offset accounts is required for accurate income and expense reporting.
• Use of imported data
  The bank-provided description is stored in the Memo field and should be used to determine:
  • Payee
  • Appropriate offset account(s)
• Non-editable totals
  Transaction amounts imported from the bank cannot be modified, as they reflect finalized bank records.

• Duplicate transactions
  Pending Transactions may include duplicates from other automated sources, such as:

  • External integrations (e.g., Paycor, Vanco)
  • Offering batch Deposits
  • Recurring transactions

  Users must determine which transactions to process and which to dismiss.

• Dismissal is permanent
  Dismissed transactions cannot be recovered. If needed later, they must be manually recreated.

Transaction Types and Adjustments

Bank integrations only indicate cash flow direction (inflow or outflow). As a result:

• Incoming transactions are initially categorized as Deposits
• Outgoing transactions are categorized as Payments

These default types can be changed before saving:

• Deposits can be converted to:
  • Transfer
  • Journal Entry
• Payments can be converted to:
  • Check
  • Transfer
  • Payroll transaction
  • Journal Entry

Credit Card Transaction Behavior

If a credit card account is connected, imported Payment transactions may represent different scenarios:

1. Credit card purchases

• The credit card account is pre-selected as the payment method
• The user must assign the appropriate expense account(s) under Payment Details

2. Credit card payments (paying down balance)

• The credit card account is pre-filled as the offset account
• The user must select the funding bank account in the field: “What did you use to make this payment?”

Viewing Pending Transactions

1. In the Todo section, select the link indicating the number of pending transactions.
2. Identify bank-imported transactions by the bank icon displayed next to the transaction type.

3. Select the option to view the transaction details.

Each pending transaction includes:

• Bank or credit card account
• Transaction date
• Amount
• Memo (bank-provided description)

Completing Transactions

To finalize an imported transaction:

1. Update the transaction type if necessary
2. Enter Payee and invoice/reference details as applicable
3. Select the correct offset account(s)
4. Add any additional details or descriptions as needed
5. Click Save to post the transaction to the General Ledger