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Reconciliation Models

Once the bank statements are correctly imported, it is essential to reconcile the records properly and ensure all Journal Entries are balanced and in agreement. To ease and speed up the reconciliation process, you can configure Reconciliation Models, which are particularly useful with recurrent entries such as bank fees.

Types of Reconciliation Models

There are three types of Reconciliation Models:

  1. Write-off Button
  2. Suggestion of counterpart values
  3. Match existing invoices/bills

Manually create a write-off on clicked button

When you are reconciling an entry with an Open Balance, you can use the buttons available under the Manual Operations tab to pre-fill all the values automatically, before validating the reconciliation. Each button is a different Reconciliation Model.

Example of a Reconciliation Model with a write-off button in Odoo Accounting

Suggest counterpart values

This type of Reconciliation Model suggests immediately counterpart values that only need to be validated. This automation is based on a set of rules defined in the reconciliation model.

Example of a Reconciliation Model that suggests counterpart values in Odoo Accounting

Match existing invoices/bills

This type of Reconciliation Model automatically selects the right Customer Invoice or Vendor Bill that matches the payment. All that is left to do is to validate the entry. This automation is based on a set of rules defined in the reconciliation model.

Example of a Reconciliation Model that matches existing invoices and bills automatically in Odoo Accounting

Configuration

To manage or create new Reconciliation Models, go to Accounting ‣ Reconciliation ‣ Reconciliation Models. Alternatively, you can also open this menu from the Accounting Overview, by going to your Bank Journal card, clicking on the three little dots, and then on Reconciliation Models.

Open the Reconciliation Model menu from the overview dashboard in Odoo Accounting

Open the model you want to modify, or click on Create to create a new one, then fill out the form.

Type

See above for an explanation about the different types of Reconciliation Models.

Conditions on Bank Statement Line

Define here all the conditions that are required for a Reconciliation Model to be applied.

Conditions for the Reconciliation Model to be applied in Odoo Accounting

Counterpart Values

This section comprises the values that are applied by the Reconciliation Model.

If the value to reconcile needs to be written-off in two separate accounts, click on Add a second line.

Counterparts values of a Reconciliation Model in Odoo Accounting