> For the complete documentation index, see [llms.txt](https://equility.gitbook.io/equility/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://equility.gitbook.io/equility/basics/reconciliations.md). # AutoRec (Beta) ## General Our account reconciliation module is the heart of Equility. The first step of every bookkeepers job is to ensure that the accounts are reconciled properly. This ensures data fidelity between the accounting system and the actual business transactions. Equility helps to ensure that your business transactions and balances are properly recording within the accounting system, which for our purposes would be QuickBooks Online. We do this by identifying the transaction details that are recorded within QuickBooks and making sure that these details match those within your online banking portal. We are presently looking at the following details, which can be found both of QuickBooks Online and within your online banking portal, in order to identify matches: * Transaction Dates * Transaction Amounts * Transaction Ref Numbers/Check Numbers * Transaction Descriptions As our platform analyzes more of your business data, we will be able to suggest more detailed matches based on our machine learning capabilities. ## How To Reconcile Your Account On-Demand ### Step 1: Start Reconciliation Process - Within QuickBooks Online There are two ways to start your reconciliation process using Equility. The first thing that you'll need to do is to make sure that you've installed [install our plugin](https://chromewebstore.google.com/detail/equility-extension/agpmjpajjhdifpfdbmlllhcinbafkalc?hl=en\&authuser=0\&pli=1), which works on the Chrome, Edge, and Brave browsers. This allows us to add a 'Reconcile with Equility' button directly within your QuickBooks Online reconciliation module for easy access to our platform:
Once you click the 'Reconcile with Equility' button, you will be taken directly to our reconciliation's 'Run' page. By using the plugin, the application will be able to fill out a large majority of information needed to complete your reconciliation.
### Step 2: Enter 'Account & Date Range' In order to proceed with the reconciliation, you will need to fill out the following details on the 'Account & Date Range' screen above. These details include: * General Ledger Account * Choose the general ledger account that you'd like to reconcile. * 'Start Date' For This Reconciliation * Please enter the day after the Ending Date for the last completed reconciliation within QuickBooks Online for the general ledger account that is being reconciled. If the account has never been reconciled then please input 2000-01-01 as the date. * 'End Date' For This Reconciliation * Please enter the ending date for the last completed reconciliation within QuickBooks Online for the general ledger account that is being reconciled. If the account has never been reconciled then please input 2000-01-01 as the date. * Pattern Analysis - 'Start Date' and 'End Date' * Used to set a date range for our AI pattern analysis. This trains our suggestion engine to better know what names, general ledger accounts, and classes to use for new transactions that need to be entered into QuickBooks Online. Once this has been completed, please pressed 'Continue'. ### Step 3: Enter 'Data Source & Balances'
On the next screen (image above) you will need to enter information related to: 1. Importing your banking data 1. Connect Bank - Securely connect your bank account through the 'Bank & Credit Cards' section of your 'Company Settings' 2. Upload Statement - Uload CSV, XLSX, or XLS statements 3. Bank Statements - Used previously parsed statements from within the 'File Converter' section of Equility. 2. Balance Information 1. You will need to enter the 'Beginning Balance' and the 'Ending Balance' that you would like to use for this reconciliation. Once these details are entered, press 'Start Reconciliation'. ### Step 4: View AutoRec Results After our system has completed its auto-matching process, you will be taken to our results screen where you can get details about the matches that we were able to make. On the left side of the screen, you will see a list of the QuickBooks 'General Ledger' transactions:
And a list of your 'Source Data' transactions:
These transactions will be separated into following sections based on their matched status:
* No Match * These are the transactions that we could not find a match for. * Possible * These are transactions that we feel are a likely match, but ones that might have slight variations in dates or transaction description, for example. * Confident * These are our high-value matches. We leave all of our high-valued matched here until your confirm that the transaction is a match. * Matched * These are all of the confirmed matches. Once the summation of the transactions within the 'Matched' section equals the difference between the beginning and ending balance, then you are ready to export your results. ### Step 5: Confirm Matches Our matches transactions are shown next to each other for easy review. To approve the matches, simply click the 'Confirm' button to match each transaction one-by-one:
If you'd like to confirm all matches at once, you can click the 'Bulk Actions' button, which will allow you to confirm all highlighted transactions at once:
### Step 6: Add Missing Transactions + AI Suggested Mapping Under the 'No Match' section, you will find the 'General Ledger' and 'Source Data' transactions that we were unable to match. If source data transaction(s) needs to be added to QuickBooks Online, simply highlight the transaction(s) and click the 'Add to QuickBooks' button:
You can then choose to either manually map these transactions or have Equility suggest the transaction mapping for you using AI-Suggested Mapping:
Once the AI-Suggested Mapping is complete, you will see a list of suggested mapping details based on pattern analysis of your QuickBooks Online file. If you'd like to see the rationale behind our suggested mapping, simply click the 'eye' icon on the far right of the transaction to view the detail pop-up:
If you look at the 'Why This Mapping' section of the pop-up, you will see the reasoning behind the our mapping suggestions:
If you'd like to create hard-coded rules for certain classifications, you can do so using the 'Save as a Mapping Rule for future transactions' and the click 'Confirm Mapping' to exit the pop-up:
### Step 7: Complete Reconciliation & Export Results to QuickBooks Online Once you've gotten your reconciliation's difference to $0.00, you will be able to click the 'Export to QuickBooks' button to export these results to QuickBooks Online. ## History The 'History' section is where you can view all of your historical reconciliations. If you'd like to open up any of these reconciliations, simply go to the 'Actions' column, click the 'three dots' and then the 'View Details' button:
Once you click that button, you will be redirect back into that reconciliation. ## Create a Scheduled Reconciliation Our AutoRec module allows you to create a scheduled reconciliation that will run in the future, if you have connected your online banking through 'Company Settings'. You can choose to run these reconciliations daily, weekly, or monthly. ### Step 1: Configure Your Scheduled Reconciliation **Basic Setup** The first thing that you need to do is link your bank account. If the bank account that you want to reconcile is not listed, then click the 'Link New Bank Account' button to connect it:
Next, you will want to choose the date range for our pattern analysis. You should choose a period of your financial statement that is closed and verified as accurate. Equility then analyzes your financial statement in order to understand how your business works:
Once you have chosen your date range, click the 'Save Date Range' button, then 'Next' to proceed forward. **First Run** Next, choose the time for your first scheduled reconciliation, as well as the period for this reconciliation. For example, if you've already reconciled your books through 05/31/2026, and it is 06/23/26, then you would want to run the reconciliation for 06/01/26 to 06/22/26:
**Schedule** The last section is where you choose the frequency of your scheduled reconciliation and the time of day that you'd like for it to run:
Once these details have been filled out, scroll to the bottom of the screen and click the 'Save Reconciliation' button:
**Email Confirmation** You will them receive an email in your inbox once the reconciliation has been completed. Please note that no transactions will be finalized as matched until you log into the application and confirm the mapping:
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