Transactions
The Transactions panel in COHO allows you to connect your bank account(s) for automated rent reconciling. Here we have a short video showing how the Transactions panel works - https://www.youtube.com/watch?v=njtXHW8UZYI&ab_channel=COHO
Connecting Accounts
Click ‘Connect’ to add a new bank account connection.
You will now navigate to our API provider and you will be able to search for a bank. Follow the instructions as per the API provider.
Our API scans every 6 hours. If there are any income transactions on the bank account connected, they will be pushed into COHO. COHO then uses certain criteria to make an automated match on a tenant's rent schedule. See also Rent Schedules & Rent Collection.
The criteria used:
Date: There is a 3 day window either side of the date of the rent. For example, if you have tenants that pay on the 1st of each month, the 1st may fall on a bank holiday or a weekend therefore, the money does not hit your bank account until the 2nd or 3rd.
Rent Amount: The system checks the rent amount against rent schedules.
Payment Reference: The system will also check the correct payment reference has been used.
If the above criteria has matched against a tenants rent schedule, the payment will be automatically reconciled.
It's important to note that our open banking rules require connections to be reconnected every 3-6 months, depending on the bank. To make sure your account is still connected and/or to reconnect the account, click the settings cog.
This section of the Transactions panel allows you to see how many Transactions that have pulled through, auto matched and partially matched either today, in the last 7 days and in the last month.
You can also ‘Fetch bank transactions’ to force the system to rescan or ‘Run automatcher & rules’
All Transactions
In the ‘All Transactions’ section you can see all transactions listed.
Filtering Options:
Date from: Enter a date or use the calendar you want to see transactions to start from.
Date to: Enter a date or use the calendar you want to see transactions up to.
Amount from: Here you can enter an amount to see all transactions from that amount.
Amount to: Here you can enter an amount to see all transactions to that amount.
All transactions: Here you can use the drop down menu to list the types of transactions. I.e., Unmatched transactions, partially matched transactions etc.
All references: Here you can enter a payment reference to search by.
All accounts: Here you can use the drop down menu to select a specific bank account.
Click ‘Filter’ to allow the changes to take effect.
Ignore checked transactions: Here you can checkbox items listed to ignore.
Re-match checked transactions: Here you can force the system to re-match any checkbox items.
Proposed Matches
Where the system has not been able to fully match a rent payment using the above mentioned criteria, you will be able to view proposed matches.
On the left hand side you will see all the information related to the transaction that has been pulled through from the bank account. On the right hand side, COHO will find the closest possible match.
You will then be able to 'Ok' the proposed match to fully reconcile the rent payment.
Rent Match Rules
Rent match rules can be set where the payment has come through as a proposed match but you'd like the system to remember a rule that has been set to allow for automated reconciling the next time the tenant pays.
This can be particularly useful when tenants use an incorrect payment reference and that was the reason for the proposed match.
Transactions Settings Cog
Here you can click ‘Connect an account’ to connect a bank account.
It's important to note that our open banking rules require connections to be reconnected every 3-6 months, depending on the bank. To make sure your account is still connected and/or to reconnect the account, click the settings cog.
You will now navigate to our API provider and you are able to search for a bank. Follow the instructions as per the API provider.
Misc Transactions Information
Split bank transactions across 2 or more tenancies - https://drive.google.com/file/d/1LFONOsCBGJFeGLxIMkgnsx3gavewwXwU/view
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