Bank and Credit Card Register Features Overview

Bank and credit card registers keep records of transactions that go in and out of your accounts and help you keep them in sync with your business accounting.  SQUAVA allows you to create registers for your bank and credit card accounts, link them to financial institutions, record transactions, and reconcile them. It’s easy to add accounts, create transactions, and edit or delete them.

This article will provide a brief introduction and overview of the bank register features, and it will direct you to more information and detail about the specifics of those features and how to use them.

Article Overview

1. Add a bank or credit card register
2. Bank selector
3. Status indicators
4. Balance amounts
5. Edit Bank or Credit Card Account / Triple dot
6. Transactions Status
7. New Transaction
8. Import Transactions
9. Export Transactions
10. Reconcile and hide reconcile buttons
11. Search and filter transactions
12. Column headers
13. Interact with transactions
14. Action buttons for single and multiple actions
15. Page viewer

Bank Register Features Overview

1. Add a bank or credit card register
   Bank and credit card registers allow you to track, sync, and match transactions from your company’s bank and credit card accounts right in SQUAVA. Add a bank account or credit card register to SQUAVA by clicking on the +Add Bank/Credit Card button in the upper left corner of the screen.
   
   
   
   To learn more about adding a bank or credit card account, check out this article here → Add bank and credit card
   
   
2. Bank selector
   After creating registers for your bank and credit card accounts, you will use the bank selector to choose which register you want to view.  Click the bank selector located on the left side of the account widget, then choose a bank or credit card account that you want to display. After selecting the bank or credit card, you will see the account transactions listed in descending chronological order.
   
   
   
   Tip: A bank register has a bank building icon while a credit card register has a card icon.
   
   
3. Status Indicators
   Status indicators let you know if there are unapproved transactions or unassigned transactions on your selected account. Two status indicators are displayed in the bank register widget near the top of the screen; unapproved and unassigned. For quick reference, you can also see these pending action statuses in the bank selector dropdown next to each bank register.
   
   
   
   
   
   a. Unapproved - this indicator shows the total number of unapproved transactions on your selected bank or credit card register. The unapproved status indicates that a transaction has been imported from your synced bank account and has not yet been approved as a permanent transaction. Unapproved transactions will have a yellow ‘plus’ label in the far left side of a transaction row. To approve or reject a transaction, click the yellow plus icon to display a small window so you can choose between the two options. Approving means you’re accepting the transaction into your account register and it will be removed from the status indicator count. Rejecting the transaction will remove it entirely from your register.
   
   
   
   b. Unassigned - this indicator shows the total number of transactions that have not yet been assigned an account from the chart of accounts.  This is typically the case for transactions that are imported from your bank that don’t match a similar transaction and need account assignment.  Unassigned transactions will have a red ‘unassigned’ label where the account name would be displayed under the account column. You can assign an account to a transaction by clicking anywhere on the transaction row and then select an account from the drop down list of accounts.
   
   
   
   
4. Balance Amounts
   Balance amounts display the running balance of all your transactions for your selected account. SQUAVA displays two balance amounts; Bank Balance and Cleared Balance.
   
   
   
   a. Bank/Credit Card Balance - this is the current balance of all the transactions in the selected bank or credit card account.
   

   b. Cleared Balance - this is the current balance of all the cleared transactions in the selected bank or credit card account and will be compared to the ending balance you input during the reconciliation process. A cleared transaction will have a checkmark next to the amount of the transaction.

   Tip: It is normal, and probably most common, that these two amounts will not equal.  They will be the same amount if all the transactions are cleared.
   
   
5. Edit Bank or Credit Card Register / Account (Triple dot)
   The triple dot on the far right of the bank widget gives you access to more options for your bank or credit card account. These options include:  reconcile, edit, deactivate/activate, or delete your selected register.
   
   
   
   a. Reconcile - selecting this option will prompt you to input an ending balance and date to begin the reconciliation process. Usually, the amount you input is the ending balance in your monthly bank statement.  This balance will then be compared to the cleared balance in your register for reconciliation. The reconciliation interface will show the difference between the two balances and lets you clear or unclear transactions to balance the two values and complete the process.
   
   
   
   b. Edit Register - editing a bank or credit card register allows you to change its name, description, office, or link/unlink it to a financial institution. To learn more about linking a bank or credit card account, check out this article here → Linking bank or credit card to financial institution
   c. Deactivate / Activate Register - This is equivalent to closing an account that will no longer be used.  You likely want to deactivate a register, not delete it.  You can also activate the register to edit transactions or continue use of the register and account.
   d. Delete Register - deleting a bank or credit card register will permanently remove it and all of the transactions associated with it. Use this with caution as you will not be able to recover the deleted transactions.
   
   Tip: It is not common to delete a bank or credit card register.  Normally, an account is closed with your financial institution and you would deactivate it in SQUAVA.  Lots of financial records are tied to these registers that can affect your financials.  So, deactivate a closed or retired account - don’t delete it.
   
   Be extra cautious when deleting bank or credit card registers as it can affect your financials.  Likely the only scenario for which we would delete a register is if you created a new account and felt the need to start over with a fresh bank or credit card import.  If in doubt, we would recommend editing the register or deactivating it and creating a new account if necessary.  We also recommend zeroing out your account balance before you deactivate a register.
   
   
6. Transactions Status
   The transaction status is indicated in each transaction row. The pending action indicator on the far left will display when a transaction has been synced into your register from your bank.  The indicator contains the option to approve, reject or unmatch a transaction. This indicator directs you to additional actions, if any, required as a result of importing or synching transactions from a financial institution. The cleared and uncleared indicator on the far right indicates a cleared or reconciled status and helps during the reconciliation process. To learn more about bank reconciliation, check out this article here → Reconcile Transactions
   
   
   
   a. Approve/Match - An plus icon will appear next to newly imported or synched transactions.  Clicking on this icon will give you the following options:  approve, reject, or unmatch a transaction. You can mark a transaction as approved once you have verified that it matches an existing transaction - they will appear as one. Once matched/approved, the two similar transactions will be merged into one transaction. This would only appear if an existing transaction from SQUAVA matches a transaction imported or synced from the financial institution. This helps to eliminate duplicate transactions.
   
   
   
   b. Reject - Rejecting a transaction will remove it from your register.  Once rejected, the transaction will be deleted from SQUAVA but this will not affect your bank transactions.  You might reject an imported transaction that would be a duplicate to one you have already entered and assigned to a job and/or an account.
   c. Unmatch - Unmatching a transaction removes SQUAVA’s suggestion that a recent imported or synced transaction might match an existing transaction in your register.  You can mark a transaction as unmatch once you have verified that it is different from an existing transaction. Once unmatched, the two similar transactions will appear as separate transactions. This would only appear if a transaction from SQUAVA matches a transaction imported or synced from the financial institution. This helps you from incorrectly deleting a non-duplicate transaction.
   d. Cleared - A cleared transaction is one that has cleared, and is visible in, your bank.  You can mark your transaction as cleared, or uncleared, by clicking the small circle which will toggle the cleared, checkmark, status.  Cleared transactions will be included in the total cleared balance widget at the top of the register and will then be compared to your bank ending amount during reconciliation. You can mark a transaction cleared anytime or during reconciliation.
   e. Uncleared - An uncleared transaction is one that has not yet cleared, or is not yet visible, in your bank.  You can mark your transaction as uncleared by clicking the checked small circle.  Unchecked means uncleared. Uncleared transactions will not be included in the total cleared balance but you can mark it as cleared anytime or during reconciliation.
   
   
7. Add a New Transaction
   The New button allows you to create a new transaction. You can add a Withdrawal (bank), Deposit (bank), Charge (credit card), Payment (credit card), Invoice Payment, Bill Payment, or Transfer.  To learn more about the details of adding a new transaction, see this article → Bank and credit card transactions
   
   
   
   
8. Import Button
   SQUAVA allows you to import Bank or Credit Card transactions using a .csv file downloaded from your bank if your bank is not available to sync with SQUAVA or you would prefer to manage the import of data yourself. To learn more about the details of importing transactions, see this article  → Import Transactions
   
   
   
   
9. Export Button (Coming Soon...)
   SQUAVA allows you to export your selected Bank or Credit Card transactions in a .csv format. The export will include the data displayed as a result of any filter. To learn more about the details of exporting transactions, see this article → Export Transactions
   
   
10. Reconcile button and hide reconcile toggle
    The Reconcile button below the bank selector has the same function as the reconcile button from the edit bank button (three dots) accessible from the widget bar at the top. Clicking this will initiate the reconcile process and prompt you to enter a balance and date for reconciliation. Usually, the amount you enter is the ending balance in your monthly bank statement and its date.  This balance will be then compared to the cleared balance for reconciliation. The reconciliation will show the difference in balance and let you clear or unclear the transaction to find where the difference is in the transactions. The Hide Reconciled toggle allows you to hide reconciled transactions from previous reconciliations so you can only see the current unreconciled transactions. To learn more about the details of reconciling transactions, see this article → Reconcile Transactions
    
    
    
    
11. Search and filter transactions
    Searching and filtering transactions makes it easier to find specific transactions you want to see in your selected bank or credit card register. You can search for keywords, amounts, dates, or any text tied to the transaction you’re looking for.  You can also filter them by date range, amount range, type, and other parameters. You can also use multiple filters simultaneously. To learn more about the details of filtering transactions, see this article → Filter Transactions
    
    
    
    
12. Column headers
    Column headers are placed at the top of the transactions list. These headers identify some of the parameters of the transactions listed. These headers are not sortable like most others within SQUAVA due to the chronological summing balance of each transaction common with bank registers.  A brief description of each of these headers are described below:  Checkbox icon, Question mark icon, Date, Payee/Payor, Memo, Check, Account, Amount, and Balance.
    
    
    
    a. Checkbox icon / Bulk action - clicking this checkbox allows you to select all of the transactions on the screen and take bulk actions. To learn more about the action button, see this article → Action buttons for single and multiple actions
    b. Question mark icon / Pending action indicator - the question mark icon serves as a pending action indicator which lets you know if a transaction requires attention. It will ask you to approve, reject, or unmatch a transaction. This usually appears when you have imported or synced transactions from a financial institution.
    
    
    
    c. Date - this displays the date of each transaction in your transaction list
    d. Payee/Payor - this displays the Payee/Payor of the transaction. Payee/Payor could be vendors or clients. You can simply add a new payee/payor by clicking on the transaction row and then click on the Payee/Payor field and select +New Payee/Payor Button. You will then provide a name and then choose if this Payee/Payor is a vendor or a client.
    
    
    
    e. Memo - this field is used to capture text you wish to enter to further describe the transaction. This can be helpful to know the details or reason for a transaction. This is similar to adding a note (insert adding notes link) to a transaction, but the memo is displayed in the transaction row and more visible. This information may also be displayed on an invoice to a client if the transaction has been assigned to a project. To add a memo, click on the existing transaction to enable editing and add your desired text.
    
    
    
    f. Check - check displays the check number you put inside the transaction. You can enter the check number in the beginning of making the transaction of you can edit it later by clicking anywhere in the transaction row and add a check number in the Check No. field. If you printed a check from SQUAVA, the check number will automatically be displayed here.
    
    
    
    g. Account - this is the assigned account from your Chart of Accounts to which this transaction is assigned. An empty account means it is unassigned and a warning in red will appear under this column.
    
    
    
    h. Amount - this column displays the amount of each transaction in your selected bank. It could be a negative or positive amount depending on the nature of the transaction.
    i. Balance - this is the running balance after each transaction for your account. It is computed as prior balance plus current amount. The transactions are in descending chronological order so the running balance at the top will be equal to the Bank Balance displayed above.
    
    
13. Interact with transactions
    You can edit a transaction by clicking anywhere in the transaction row to access the editable fields. Clicking in some areas will give you quick access to certain inputs as described below. You can cancel or save the changes you made and also delete that transaction.
    
    
    
    Each transaction has three quick-add icons placed in the middle of the transaction row. These three icons may change depending on the use of or association of the transaction as described below.
    a. Plus Icon - this is the icon where you can quickly add an Invoice Payment, Bill Payment, or Transfer for that transaction. Click on this icon and it will show another window where you can choose which transaction you want to add. Note that this is like an edit for that transaction so anything you add from the plus icon would only affect that transaction and will not create a new transaction. If you like to create a new transaction, see here → Bank and Credit Card Transactions
    
    
    
    b. Notes - click the notes icon to add notes. This note is expandable by dragging from the bottom right corner of the note window. Notes are intended to be an internal reference while memos can sometimes be displayed on printable documents.
    
    
    
    c. Briefcase Icon - clicking this portfolio icon will open the transaction to assign a job for cost tracking or invoicing expenses.
    
    
    
    
14. Actions button for single and multiple actions
    Bulk actions allow you to make changes to multiple transactions at the same time. You can do so by clicking multiple checkboxes at the far left side of the transactions list or simply clicking the top checkbox to select all transactions on the page. When you have chosen the transactions you want to edit, select the Actions button to choose what action you would like to take.
    
    
    
    
    
    
    The following actions are available for bulk actions:
    a. Mark Cleared - you can mark multiple transactions simultaneously as cleared by using the bulk action button. The check beside the balance column indicates a cleared status. Cleared transactions are included in the total cleared balance in your bank widget at the top of the screen (insert link on cleared balance).
    b. Mark Uncleared - you can simultaneously mark transactions uncleared by using the bulk action button. Uncleared transactions balances will not be included in the total cleared balance.
    c. Assign to Account - you can simultaneously assign multiple transactions to a single account from your Chart of Accounts.
    d. Reprint Checks - you can use this option to reprint one or more checks that you previously printed from SQUAVA.
    e. Void Checks - you can use this option to void one or multiple checks in your register.
    f. Delete - you can delete a single or multiple transactions in one action with this option.  Be careful doing this - it will permanently delete all of the selected transactions and other records like payments associated with the transactions.
    
    
15. Page viewer
    The page navigator is placed at the bottom of the Bank Register interface. Here you can navigate to other pages in the register using the forward or back arrows or the option to go to a specific page.
    
    

SUCCESS!!! 

• We’ve reviewed the user interface of the bank and credit card register.  If you need more details about each of those features, follow the link provided in each section above.  Next, we will need to learn how to add a bank or credit card.
• Check out the Help Article: Add Bank or Credit Card