How to Reconcile Bank Transactions

• Overview
• Before You Start
• Uploading a Bank Statement
• Forwarding Statements by Email
• What Pricefic Does Automatically
• Reviewing the Preview Screen
• Setting Transaction Type and Category
• How Duplicate Detection Works
• Confirming the Import
• What Happens After Confirmation
• Reconciliation Reminder Emails
• If You Need to Cancel

Overview

Bank reconciliation in Pricefic helps you turn a bank statement into clean, posted transactions without entering each line manually. You upload a statement, review the parsed entries, confirm the correct account categories and transaction types, and then import the final records into your books.

This is especially useful when you want to catch missing entries, avoid duplicate recording, and keep your bank account balances aligned with your ledger.

Before You Start

Before importing a statement, make sure you already have:

• A bank account set up in Pricefic
• A business selected for the transactions you are importing
• The right accounts/categories available for classifying expenses and income

Pricefic currently imports bank statements from a PDF upload on the reconciliation screen.

Uploading a Bank Statement

To begin:

1. Go to Transactions
2. Open Import transactions
3. Choose the Bank Account
4. Choose the Business
5. Upload the bank statement (PDF)
6. Click Import

After upload, Pricefic creates an import batch and starts parsing the statement in the background.

Forwarding Statements by Email

If your bank emails you a statement every month, you can skip the download and upload steps entirely.

1. Go to Settings
2. Open Integrations, then Email forwarding
3. Create an inbox address and choose the Business and Bank Account that address belongs to
4. Copy the address
5. In your email, set up a forwarding rule for the statement emails that bank sends to that address

Have accounts at more than one bank? Create one inbox address per bank account, so each bank's statements land in the right place.

When a forwarded email arrives with a PDF statement attached, Pricefic creates the import batch for you and prepares the transactions for review. You will get an in-app notification and can open the batch from the notification or from Transactions → Bank Statement Imports.

Password-protected statements are supported. If the PDF needs a password, the review page asks you to enter it, then continues parsing with the same statement.

What Pricefic Does Automatically

When the parser runs, Pricefic reads each transaction from the uploaded statement and prepares an import preview. For every line it:

• Extracts the transaction date
• Extracts the description
• Determines the amount
• Sets a default transaction type as income or expense
• Checks for likely duplicates against existing transactions for the same bank account

If an exact match is found, the transaction is marked as a likely duplicate instead of being treated as a new transaction by default.

Reviewing the Preview Screen

Once parsing is complete, you land on the Review & Import Transactions screen.

This page shows:

• Total Transactions — all parsed lines from the statement
• To Create — entries that will be created as new transactions
• Duplicates — entries Pricefic believes already exist

You can review each row before importing anything into your books.

Setting Transaction Type and Category

For each parsed entry, review the fields carefully:

• Type — Confirm whether the row is Income or Expense
• Category — Select the correct account from your chart of accounts

Examples:

• A customer payment should usually be classified as an income transaction
• Bank charges should usually be classified as an expense
• Transfers, loan activity, or owner-related transactions should be classified into the appropriate account, not a generic expense bucket

This review step is important because the imported transactions will be created as posted entries and will affect reports and balances immediately after confirmation.

How Duplicate Detection Works

Pricefic checks existing transactions for the selected bank account and compares:

• The amount
• The date
• The transaction description

If a matching transaction is found, the imported line is treated as a duplicate candidate. This helps prevent you from importing the same bank movement twice.

Even at confirmation time, Pricefic performs another duplicate check before creating each transaction. That extra check reduces the risk of duplicate records if something changed during review.

Confirming the Import

When you click Confirm & Import, Pricefic imports only the entries that are still marked for creation.

Before finalizing, keep these points in mind:

• Imported transactions are created as posted
• The selected category and transaction type are used on the final transaction record

For usage-cost details, see How the Credit System Works.

What Happens After Confirmation

After a successful confirmation:

• New transactions are created for the selected business and bank account
• The imported transactions are marked as created in the batch
• Duplicates and non-created rows are skipped
• The bank account balance is synced from the confirmed transactions

You are then redirected back to your transactions list so you can continue reviewing your books.

Reconciliation Reminder Emails

Pricefic helps you stay consistent with reconciliation by sending a monthly reminder through email when that preference is enabled for your account. The reminder points you to email forwarding, so you can set it up once and stop uploading statements by hand.

If you want to review or change that setting:

1. Go to Settings
2. Open Email preferences
3. Turn the reconciliation reminder option on or off
4. Save your changes

This is useful if you want regular prompts to keep your records current without relying on memory alone.

If You Need to Cancel

If the batch is wrong or the statement needs to be replaced, use Discard on the review page. This cancels the batch so you can start a fresh import.

Pricefic also prevents you from starting a new import while you still have an unsettled import batch in progress. Finish or cancel the current batch first, then upload a new statement.