Bank Reconciliation Process in VRTrust
1. Connect Your Bank Feed 0:00
Recommended for users in the U.S. or Canada to connect their bank feed.
For users outside these countries or with banks not supporting PLAID, upload bank records using a CSV file.
2. Access Bank Reconciliation Tool 0:17
Open the bank reconciliation feature to view unmatched bank records.
The left side shows the total number of unmatched records, with a list below.
3. Identify Unmatched Bank Records 0:31
Unmatched records are transactions that have cleared the bank but are not yet matched in VRTrust.
Example: A Stripe payout that should match a VRTrust transaction.
4. Create Deposits, Expenses, and Bank Transfers 0:42
If there is no suggested match or the match is incorrect, click Create > Deposit:
Update the description if needed
Add Reservation or Non-reservation rows
Ensure the Remaining amount equals zero (bottom left corner)
For negative amounts, click Create > Expense:
Update the date and description if needed
Add attachments
Update the payment date and assign an owner/vendor if needed
Add expense lines
Ensure the Remaining amount equals zero (bottom left corner)
If applicable, click Create > Bank Transfer:
Select the correct From and To bank accounts
Select the date of the actual bank movement
Update the description if needed
The amount will automatically set to match the selected bank record
Click Save
5. Verify Ending Bank Balance 1:05
Verify the ending bank balance in your statement matches the running balance in VRTrust (beginning balance ± all synced/uploaded transactions).
If it doesn’t match, first confirm your beginning balance is correct.
If the beginning balance is correct but balances still differ, review the bank feed for missing or duplicate transactions.
6. Review Unmatched VRTrust Transactions 1:26
Look at unmatched VRTrust transactions found in the transactions tab.
Adjust, delete, or move these transactions to the correct reporting period as necessary.
7. Use Bank Feed Tab for Overview 1:30
In the Bank Feed tab, view all bank transactions and the running balance.
Filter transactions by amount or status (matched, unmatched, excluded).
8. Exclude Duplicates or Incorrect Transactions 1:37
Click to exclude any duplicates or incorrect transactions from reconciliation.
Unmatch transactions if needed.
9. Finalize Matching Transactions 1:59
Match the final transaction to ensure all records are accounted for.
Confirm that the unmatched count is zero.
10. Complete Reconciliation 2:07
Review unmatched VRTrust transactions to confirm their status.
Once all steps are completed, reconciliation is finished.