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Overview

Your reconciliation strategy specifies how transactions are distributed between the two sets of records. This is important because it affects how Blnk matches the records and how you interpret the results. Blnk supports three strategies:
  1. One-to-one: Each external transaction is matched with exactly one internal transaction.
  2. One-to-many: Each external transaction is matched with one or more internal transactions.
  3. Many-to-one: One or more external transactions are matched with exactly one internal transaction.

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Choosing a strategy

Pick the strategy that best reflects how money groups or splits between your ledger and your external source.
  1. If nothing is split or combines, use one-to-one, e.g. a customer pays $25 with their card; your ledger records a $25 transaction and your processor statement also shows a single $25 charge.
  2. If one record on the external side triggers multiple records on the internal side, use one-to-many, e.g. A payment processor reports a single $100 charge, but your ledger records it as separate entries for the gross amount, the processing fee, and the net amount deposited.
  3. If multiple records on the external side and combined into one record on the internal side, use many-to-one, e.g. a processor reports a transaction in multiple parts, for example fee breakdowns or split authorizations, but your ledger stores it as a single $120 charge.
Simply ask, does this transaction split, combine or stay the same between the two sides? The answer will guide your choice.

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Applying your strategy

To apply your strategy, select it from the Strategy dropdown field when creating a new reconciliation run. Select strategy Next, you’ll need to select a grouping criteria. This field determines how Blnk groups the records on the many side for reconciliation. Here are the available grouping options for each strategy:
  1. One-to-many:
    Grouping criteriaWhat it does
    transaction_idGroups internal records that share the same transaction ID.
    parent_transactionGroups internal records that belong to the same parent transaction.
    sourceGroups internal records with the same source balance.
    destinationGroups internal records with the same destination balance.
    referenceGroups internal records that share the same reference.
    currencyGroups internal records by currency.
    statusGroups internal records by status.
    created_atGroups internal records created at the same time or date.
  2. Many-to-one:
    Grouping criteriaWhat it does
    idGroups external records by their ID.
    amountGroups external records that share the same amount.
    currencyGroups external records by currency.
    referenceGroups external records that share the same reference.
    descriptionGroups external records by description.
    dateGroups external records by their date.
Grouping criteria is not required for one-to-one strategy.

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Need help?

If you’re having trouble with Blnk Cloud, don’t hesitate to send us a message via email at [email protected] or send us a message here.