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If you want to record transactions directly via your bank statements, follow this guide.


BETA

The BETA version can be used to post fund-level incomes and expenses. We are currently working on the ability to post investments and other asset specific transactions.

Step-by-Step Guide

  1. Go to Bank Import (Transactions → Utilisation Transactions → Bank Import)




  2. You'll see a list of all your bank accounts on Fundwave on the top left. Select a bank account and tap 'Import statement' .  




  3. You can import your bank statement through :

    a. Excel statement: Download the statement from your bank and upload it on Fundwave (See template), or

    b. QBO format: Some banks (eg: JP Morgan, Silicon Valley) let you download bank statements in the Quickbooks format. You could check with your bank if a QBO format statement is available.

     


  4. After import, you should see your bank statement on Fundwave. The first section helps you reconcile between bank balance and Fundwave balance.



    The bank balance is updated automatically if you've imported using a QBO format. Incase of excel import, please add bank balance to help you identify the differences.


  5. Fundwave will automatically match your bank statement with any existing transactions on Fundwave. You can also post remaining transactions using inputs from your bank statement.

    1. Matched Transactions - View:  To view all matched transactions

      What is Match?

      Match is a function that scans through your bank statement and data on Fundwave to identify common transactions and 'matches' them to avoid duplication and ensure accuracy.

    2. Record new transactions -To add a new transaction using inputs from bank statement
       



  6. How to record a new transaction?

    1. Select a transaction type from the dropdown menu and click 


      Create a new transaction type

      If you wish to add a new transaction type, follow this guide.
  7. You will see two sections:
    a. Post - Record a new transaction or 
    b. Match - Link the bank transaction with an existing Fundwave utilization transaction (these are suggestions based on the selected transaction type)




  8. You can also view a posted transaction to either: 

    a. Update -
    To modify the transaction date and description
    b. Unmatch - To de-link a matched transaction incase a transaction was matched incorrectly
    c. Match -  To match it to a different transaction on Fundwave





  9. Balance in Fundwave should tie with the bank balance once all transactions are posted or matched.



    Pro-tip: Filter through your bank statement to find 'the one' by clicking on the search icon and typing in your parameters
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