What Is the Difference Between Reconciling and Clearing?
In Zola Suite you can Reconcile or Clear transactions to check if the records in your bank/credit account match your Zola Suite records.
Reconciliation works with both trust and operating bank accounts but not credit cards accounts. In Zola Suite, you will be able to generate a copy of the bank statements from your banking institution by matching the transactions found in Zola Suite to the transactions found in the bank statement. In the end, the totals and transactions of the Bank statements should match the generated Bank Reconciliation Report in Zola Suite.
Clearing on the other hand works with any credit card, or bank account that Zola Suite can download activity from. This feature matches up every individual transaction between your financial institution and Zola Suite.
What is the Account Reconciliation Report?
The Account Reconciliation Report is used to ensure that both your Zola Suite Register and your bank account transactions are in agreement. To start the reconciliation, click the + sign in the top right hand corner of the report header. Here, you ...
How Can I Edit a Bank Reconciliation?
Sometimes while creating Bank Reconciliations you may make a mistake, confuse one transaction for another, and have to go back to update. If you need to make any changes to an existing reconciliation, you can do so by Going to the Reports tab of ...
How Do I Clear a Transaction from the Download and Review Feed?
First, navigate to the Banks and Registers page, select the credit card from the drop-down, then click Download and Review Select the transaction you'd like to clear. If this activity was already created in Zola Suite and appears on your Bank ...
Why Am I Seeing Duplicate Transactions When Using Download and Review?
Through our integration with Plaid, you may from time to time see what appears to be a duplicate transaction in the download feed. These are in fact not true duplicates, but are based on the status of the transaction at the time you perform the ...
How do I Delete a Bank Account?
Contact Support to Delete a Bank or Credit Card account from your Banks and Registers. When you are setting up your Bank and Credit card accounts, keep in mind Zola automatically starts you off with one Operating Account and one Trust Account. The ...
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