Table of Contents

About fast coding in Reckon One

Learn about fast coding in Reckon One, which is a method of quickly matching (allocating) your bank feed transactions to Reckon One transactions (e.g. payments, receipts), or coding them to ledger accounts.

You must have a bank feed connected to use fast coding, and it's a more advanced but quicker method of matching transactions, most suitable for those with accounting or bookkeeping experience who need to allocate a large number of transactions for their clients. Those with less experience may prefer to allocate transactions in the Bank transactions screen instead.

This feature is available on all accounting and Reckon Ultimate plans.

About fast coding

Fast coding is one of two methods you can use in Reckon One to match (allocate) your bank feed transactions to Reckon One transactions such as payments and receipts. It also allows you to code your bank transactions to ledger accounts, with or without matching them.

Fast coding is suitable for:

  • Books where a bank feed is connected
  • Those with more confidence in coding and allocating transactions, such as accountants or bookkeepers.

If you don't have a bank feed connected, you should allocate your transactions in the Bank transactions screen instead.

How it works

Fast coding will display potential matches for you to accept or decline. A potential match is a Reckon One transaction (e.g. an invoice, bill, receipt or payment) that matches the Amount and Date of the bank transaction (within a range of 6 days before or after the bank transaction date). Invoices and bills will only show as potential matches if they've been marked as Paid.

Upon accepting the match, the fields will be coded as per the matched Reckon One transaction (for example, the Account code will be populated as the same Account code selected in the Reckon One transaction). If you decline the match, or you have a transaction that doesn't display a potential match, you can manually code transactions instead.

You can match and code transactions individually, or in bulk. You can also export transactions to send to your clients for approval or checking.

Understand the fast coding screen

The fast coding area displays columns showing information for each transaction. By default, you'll see all possible columns. You can customise the information you see.

To view the screen:

  1. In the Banking menu, select Fast coding.
  2. Select the relevant Reckon One bank account in the Account dropdown menu.

Column name

Information found in column

Date

The transaction date according to the bank statement.

Reference

The reference from your bank, if available and provided by bank.

Type

The transaction type, as provided by the bank.

Description

The description from your bank, if available and provided by bank.

Money out

The amount paid (debit).

Money in

The amount received (credit).

Tax

The GST (goods and services) content of the transaction. This is positive for a money in transaction, and negative for a money out transaction.

Qty

The quantity associated with the transaction.

Account

The ledger account (from Chart of accounts) that the transaction is coded against.

Tax code

The tax code that the transaction will be coded against.

Contact (if you have 2 or more contacts)

This field will only show if you have 2 or more contacts in Reckon One. This is an optional field where you can select a contact for the transaction. If you don't select a contact, this field will populate with a system-generated 'Default contact'.

Classification (if classifications is enabled)

This field will only show if you have classifications enabled in your book. If you have a classification set as a default, this classification will automatically be used against each transaction where you don't manually select a classification.  

Status

Icons representing the various status' of transactions such as 'Locked' or 'Saving' will appear in this column. If you hover your mouse over any icon, information on what each icon means will appear.

Status icons

 

Icon

Description

Transaction has been coded

Launch the Actions Menu, to add a comment or a rule against the transaction

A comment has been added to the transaction, click the icon to view.

Customise your fast coding screen

You can customise your fast coding screen to:

  • Display accounts by account code, so you can see the account code instead of the account name in the Account column.
  • Enable editable descriptions, so you can edit the description that appears against a transaction
  • Remove optional columns from the screen, to give you more room for the things that matter.

To make any of these customisations:

  1. In the Banking menu, select Fast coding.
  2. Select the ellipses icon (3 dots).
  3. To display accounts by account code, select the Display by account code checkbox.
  4. To edit the description that appears against the transaction, select the Editable Description checkbox.
  5. To remove optional columns from the screen, select Display Columns, then deselect the columns you wish to remove from view. Then click on Close.

Read more

How did we do?

Match and code transactions using fast coding in Reckon One

Search and filter transactions in fast coding in Reckon One

Related Articles

Match and code transactions using fast coding in Reckon One
Connecting BankData Fast Coding to Reckon Accounts Hosted
Search and filter transactions in fast coding in Reckon One
Powered by HelpDocs (opens in a new tab)

Powered by HelpDocs (opens in a new tab)