All Collections
Accounting & Reporting
Bank Feeds
How to Reconcile Transactions – Desktop
How to Reconcile Transactions – Desktop
Oliver Chiang avatar
Written by Oliver Chiang
Updated over a week ago

Contents


What You Need To know

Landlord Studio allows you to connect your bank account and import transactions automatically, which makes reconciling your accounts easier and faster. In this guide, we will walk you through reconciling single and multi-line transactions.

  • This feature is currently only available in the USA, UK, and Canada.

  • We have partnered with Plaid and will be rolling this feature out to the rest of the world as they expand into new countries.

  • When choosing your subscription plan it's important to note that Bank Feeds is only available on our PRO plan.


How to reconcile bank transactions

  1. Go to the “Bank Feeds” section and select the account you want to reconcile.

  2. Review the transactions imported from your bank and either match or create a transaction in Landlord Studio.

  3. If a matching transaction is found in Landlord Studio, the system automatically highlights the transaction in green.


    Sometimes there are multiple transactions that match, so the most likely transaction is suggested and a link is provided to the other alternatives.

    • If the correct transaction is suggested, click OK to accept the match and reconcile.

    • If you don’t want to accept the match, click Select other matches to see other options.

  4. If no matching transaction is found in Landlord Studio, you can create new income or expense transactions by clicking the "Add" button.

  5. To add a transaction, select the appropriate transaction Type (income or expense), the Property, and the Category. See the section below on how to reconcile a transaction into multiple line items.

  6. Click "Reconcile" to complete the operation. Note that the amount of the transaction must match


How to reconcile a transaction into multiple line items (split transactions)

  1. Go to the “Bank Feeds” section and select the account you want to reconcile.

  2. Review the multi-line transactions imported from your bank and match them with the transactions in Landlord Studio.

  3. To add multiple income & expense transactions from a single bank transaction, simply click on "+Add split" to insert a new row into the grid.

  4. Allocate the appropriate Type (income or expense), Property, Category, and transaction Amount to each individual line item.

  5. Repeat the process for all multi-line transactions until the Total amount matches the transaction amount. You could use the "Split Evenly" toggle to auto-allocate the amount equally against all line items.


We are still developing this feature and we intend to automate the entire process once we have taught our AI systems to accurately recognize and record payments.

NOTE: We do not store any of your financial or online banking information. Connecting to your bank account is done securely through our third-party provider Plaid. You can view their privacy policy here: https://plaid.com/legal/#privacy-statement

Landlord Studio provides you with regulated account information services as an agent of Plaid Financial Ltd., an authorized payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (Firm Registration Number: 804718) for the provision of payment services, including account information services.

Did this answer your question?