Clear Transactions Electronically

Use a .qif, .ofx, .qbo, bai.txt, or .qfx file from your bank to match and clear register transactions electronically. This helps you reduce manual work, identify exceptions quickly, and move into reconciliation faster. After processing, matched transactions update to Cleared, and unmatched transactions appear as exceptions on the Clear Transactions Electronically report.

Note: Use this process to clear transactions if you're not using Yodlee to clear them in bank feeds. If you're using Yodlee, a third-party financial aggregator, review Match and Clear Transactions to match and clear transactions.

Clear Transactions

1. From the bank account record, under Register, select Clear electronically.

2. Upload the .qif, .ofx, .qbo, bai.txt, or .qfx file from your bank.

3. Under Set cleared date, select whether to use the date from the bank file or enter a date.

4. Select Clear transactions. Financial Edge NXT imports transactions and attempts to match them to transactions in the register.

5. After processing completes, select the notification in the top-right corner to open the Clear Transactions Electronically report.

Review Report Results

Use the report to confirm processing results and prioritize follow-up work:

• Number of matches - The number of matched transactions with a Cleared status.

• Total of matches - The total amount of cleared transactions.

• Number of exceptions - The number of unmatched transactions.

• Total of exceptions - The total amount of unmatched transactions.

Use these results to identify, match, and clear unmatched transactions, then finalize your reconciliation.

Tip: To review previous imports, including the last run date, number of exceptions, and bank file name, under Register, select Clearing history.