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How do I clear transactions on my Bank Feed?
How do I clear transactions on my Bank Feed?

This article goes through how to clear transactions on your bank feed and how to reverse transactions

Support Property Stack avatar
Written by Support Property Stack
Updated over a week ago

How to Clear Transactions in PropertyStack's Bank Feed

Objective:

This SOP provides the steps required to clear transactions in the PropertyStack software to maintain accurate financial records.

Step 1: Navigate to Bank Feed

  1. Log in to your PropertyStack account.

  2. On the left-hand side panel, click on ‘Trust’.

  3. Under the ‘Trust’ menu, select ‘Bank Feed’.

Step 2: Review Transactions

  1. Examine the list of transactions within the bank feed.

    • You will see transactions listed with details including the Date, Description, Amount, and Balance.

Step 3: Selecting Transactions to Clear

  1. For each transaction that you wish to clear, click the ‘Clear’ button on the far right of the transaction line.

    • A new window titled ‘Clear Transactions’ will appear.

Step 4: Clearing the Transactions

  1. In the ‘Clear Transactions’ window, review the transaction details that need to be cleared.

  2. Match each bank feed transaction with the corresponding PropertyStack entry.

    • The transaction to be cleared will be displayed at the top, with the amount that needs to be matched.

    • The bottom section will show a list of PropertyStack entries that can be matched to the bank feed transaction.

Step 5: Matching and Completing the Clearing Process

  1. Select the checkbox next to the PropertyStack entries that match the bank feed transaction amount.

  2. The selected transactions will tally up in the ‘Currently Selected Amount’ field.

  3. Ensure that the ‘Currently Selected Amount’ matches the ‘Transaction Needed To Clear’ amount.

  4. Once the amounts match, the ‘Amount Difference’ should read $0.00.

  5. Click the ‘Clear’ button to finalize the clearing process.

Step 6: Confirmation and Review

  1. Confirm that the transactions have been cleared by reviewing the ‘Cleared’ section of the bank feed.

  2. Ensure that the bank feed reflects the correct balance after clearing the transactions.

Tip: In order to reverse a transaction, simply select the cleared tab > Cleared > Yes unclear

Step 7: Logging the Activity

  1. Make a note of the cleared transactions in your records for future reference and auditing purposes.

Final Check: Verify that the bank balances in PropertyStack correspond with your actual bank statements to ensure all transactions are accounted for and cleared correctly.

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