Bank statements and reconciliation
Import your bank statement as CSV or PDF and tick off each line against the payments and expenses in Invoa, so your books match the bank.
Bank statements and reconciliation are part of the Core and Pro plans. Reconciling means checking every line on your bank statement against what you recorded: money in against customer payments, money out against expenses. Invoa does most of it for you and leaves you the lines it cannot be sure about.
Import a statement
- In your online banking, export the statement for the month as CSV (it may be called Excel or "download transactions"). A PDF statement works too.
- Open Bank and click Import statement.
- Choose the bank account, or click New account the first time (for example "Maybank current account", with the last 4 digits).
- Choose the file, or several at once (for example the last six months), and click Import statement. They are imported one after another.
A CSV is read straight away and is free. A PDF is read by AI and uses your monthly reading allowance, one per 3 pages, the same allowance as expense bills. If the CSV's columns are not recognised, Invoa shows the first rows and asks which column is the date, description and amount. The columns you pick are reused for the other files in the same import. If this month's allowance cannot cover a PDF, it is not imported; export a CSV from your bank instead (free), add a top-up or upgrade.
Importing the same month twice, or two statements that overlap, is safe: lines already imported are skipped.
What Invoa matches on its own
- Money in is matched to a payment you already recorded for the same amount, a week before to three days after the bank date.
- Money out is matched to a paid expense for the same amount around the same date, or to an unpaid bill for the same amount due within 60 days of the bank date, which is then marked paid on the bank date. Bills still under To review are only suggested, never matched on their own.
It matches a line only when there is exactly one such candidate. Those lines show Auto under Matched.
The lines left to match
Under To match, each line shows what it could be:
| You see | What happens when you click it |
|---|---|
| Payment INV-… | The line is tied to that recorded payment. |
| Record payment: INV-… | A payment is recorded on that open invoice for the line's amount and date, with a receipt. The receipt is not emailed. |
| Paid bill: … / Expense: … | The line is tied to that expense; an unpaid bill becomes paid. |
| Like before: / Rule "…": | Invoa's suggestion, from a line you decided before or a rule that only suggests. One click accepts it. |
| Cancels out RM … on … | The line and its opposite (a charge and the bank's reversal) are set aside together as a reversal. |
| Decide… | File it as an Expense in a category (a paid expense is created; add the bill later from Expenses), or as Not an expense: what kind of money it is (below). |
| Ask accountant | Park the line with your question instead of guessing. |
| Make a rule | Decide this kind of line once for every statement. |
Clicked the wrong thing? Find the line under Matched or Set aside and click Undo. The payment or expense stays; only the link is removed. Undoing one half of a pair undoes both.
Money that is not income or an expense
These stay out of the profit and loss, and the bank export labels each so your accountant can post it to the right account:
| Type | For |
|---|---|
| Owner or director money in | You put your own money into the company (a director's advance or share capital: ask your accountant which) |
| Owner's drawings or repayment to director | Money taken out by the owner, or paid back to a director |
| Transfer between own accounts | Money moved between the company's accounts |
| Loan received / Loan repayment | Bank loans and hire purchase |
| Refund or reversal | Money returned, or a charge the bank reversed |
| Other income | Bank profit or interest, small commissions, grants: this one does count as income in the P&L |
| Other | Anything else, with a note |
Many lines: rules, suggestions and bulk
- Rules. Click Make a rule on a line, or open Bank rules. "When the description contains SA Capital SHAMSUDDIN, it is owner or director money in." Leave out reference numbers and dates so the rule matches every month. An automatic rule is applied straight away to lines still to match, and to every statement you import after. Untick Apply automatically to make the rule only suggest.
- Suggestions. A line like one you decided before (the same description, ignoring reference numbers and dates) shows Like before: with the same decision. You confirm it; Invoa never decides from history on its own.
- Bulk. Tick lines (or the box at the top for the whole page), then Accept suggestions, or Decide for all… to file them all the same way. Lines the decision does not fit (an expense needs money out) are skipped and counted.
Ask your accountant
Not sure what a line is? Click Ask accountant and write your question. The line waits under Ask accountant, and your accountant sees how many questions each client has in their console. They answer on the line, and can decide it in the same step. Rules never touch a line that is waiting for an answer.
Does the statement add up?
Under Statements, a statement that shows opening and closing balances is checked: opening balance plus every line must equal the closing balance. Adds up means nothing is missing. Off by RM … means a line was not imported; check the file, or that a PDF was read completely.
Who can do what
Owners, admins, members and accountants can import statements, match lines, make rules, and ask or answer questions. Viewers can see everything.
Something unclear or out of date? Tell us at hello@invoa.io and we'll fix the page.