Confirming imported transactions

Confirming your transactions on the Awaiting Confirmation page is a useful way to double-check categorization and edits made to your transactions. There are a number of confirming options - you can choose all transactions, some transactions, or, no transactions at all, to be reviewed for confirmation.

In this user guide

Confirming your transactions

Confirming transactions on the Awaiting Confirmation page lets you check that your recently imported transactions are looking their best πŸ‘Œ

Why should I confirm transactions?

Confirming transactions is entirely optional, but we recommend it for the following reasons:

The Awaiting Confirmation page lets you approve each transaction with an OK βœ…button. You can choose whether you confirm every single transaction that is imported into PocketSmith or just a specific type of transaction. For example, you might only want to confirm transactions that have been categorized using automatic categorization from the Bank Feeds.

You are able to:

  • Confirm individual transactions
  • Confirm selected transactions
  • Confirm all transactions

Steps to confirm individual transactions

1
Head to the Transactions page ( Accounts > Transactions)
2
Select Awaiting confirmation from the sidebar

3
If you want to make any changes while confirming your transactions, select the transaction to open the transaction card, and make your edits  
4
If you would like to immediately confirm your edited transaction, tick Confirm transaction when saved, and then click Save
5
Click  OK to confirm each transaction

Confirm selected transactions

1
Select the transactions you wish to confirm using the checkboxes to the left of the transaction listing
2
Click Confirm X selected 


Confirm all unconfirmed transactions

You are able to confirm all transactions in one go by clicking Confirm all


Transaction confirming options

You can either choose to review all transactions that are imported into PocketSmith to confirm, or you can choose from a few different other options.

Because your transactions can be automatically categorized in two main ways: by the bank feed or bank file, or from your own category rules and filters. You have the option to choose which of these automatically-categorized transactions to review for confirmation. 

PocketSmith attempts to automatically mark your transfer transactions so that you don't need to do this manually or with filters. You have the option to confirm this automatic marking or not.

All transactions

  • I want to confirm all new transactions

Categorization

  • I don't want to confirm any automatic categorization
    Confirm no automatic categorization at all

  • I want to confirm transactions categorized by the bank feed service or my bank

    Only confirm the categorization applied to a transaction from the bank feed or if your bank file contains categories

  • I want to confirm transactions categorized by either the bank feed system, my bank, or my own rules and filters
    Confirm transactions that are categorized automatically in any way

Transfers

  • I want to confirm transfers automatically detected by PocketSmith


Changing the transaction confirming option

1
Head to Settings > User Preferences > Transaction confirming 
2

Choose from the available options:

3
Click Save

Reconciling your transactions in PocketSmith

Whilst PocketSmith does not have a specific transaction reconciliation feature, you can use the Awaiting confirmation page to compare and reconcile any newly imported transactions with your online banking. 

A further indicator of whether the transaction data within your account is accurate is whether your account balances are correct. 

Bank feed accounts: 
For accounts that use a bank feed balance, the current balance is imported from the bank feed so this may be correct even if the data within the account is inaccurate. The best indication of whether the transaction data is correct is the historic balances. If the historic balances are correct then the transaction data within the account is also correct.

If the  current balance for your bank feed account is showing correctly, but you notice that your historic balances are not accurate, this is likely to be due to missing or duplicate transactions. For more detail on resolving balance issues please see: Incorrect balance for a Bank feed account

Offline accounts:
The current balance for an offline account is calculated from the starting balance for the account, plus the transaction data. If your current balance is correct, then the transaction data within the account is also correct.

If your current balance is incorrect, this indicates that either your starting balance is incorrect, or that there may be missing or duplicate transactions within your account. For more detail on resolving balance issues for offline accounts see: Incorrect balance for an Offline account

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