Bank Reconciliation Module

Bank Reconciliation helps you easily match activity recorded in MIP to transactions on your bank statement. You can choose to reconcile manually or automatically, depending on your organization’s needs.

 

Manual Reconciliation

Manual Reconciliation is the default reconciliation method available to all organizations. You'll manually review and clear activity in MIP against your bank statement. During reconciliation, you can work with Checks and Vouchers, Deposits, Other Cash Items, and Suspense Items.

 

Automatic Reconciliation

Automatic Reconciliation allows you to connect a financial institution to MIP so you can bring in bank activity and reconcile with less manual effort. During reconciliation, your bank feed flows into MIP, making it easier to match bank transactions to activity recorded in MIP.

 

Get started by setting up your bank connection through Module Setup > Connect to Financial Institution.

Note: MIP connects your bank through Mastercard’s open banking platform, which supports thousands of financial institutions. Both personal and business accounts are supported, but availability depends on your specific bank and the account types it allows.

 

Select a help topic below to get started.