Caruso's Deposit Reconciliation system allows you to efficiently process and match incoming bank transactions with allocation requests. This guide will walk you through each step of the process, from importing bank statements to matching transactions with the correct allocations.
Importing Your Bank Statement
You can reconcile allocation payments in bulk by using your bank's transaction file.
Convert bank statement
If your bank exports data in a format different from Caruso's standardised format, you'll need to use our Bank Statement Converter:
Navigate to the File Converter tab
Select Bank Statement and upload your bank's transaction file
Review file mapping - You can review the columns that have been mapped from the transaction file uploaded and also choose an option to update mapping, if required.
Download the converted deposit reconciliation file
Import bank statement
To start reconciling, navigate to the Reconcile tab, upload the converted file and click Save & continue. Please note, Caruso will automatically exclude negative transactions from the import. The Reconcile feature currently only supports deposits.
Matching transactions with allocation requests
For each imported bank transaction:
Caruso will display the transaction on the left side of the screen
If available, the best matching allocation request will appear on the right
The matching algorithm gives a score to the transaction details that match a relevant Caruso record.
High confidence matches are on:
Transaction | Caruso |
reference / code / particulars |
|
bank account number |
|
Lower confidence matches are also suggested if transaction details suggest other investing entity details could be relevant. These include;
Investing Entity ID
Investing Entity Name
Investing Entity Customer Reference (optional field)
Investing Entity Bank Account Name
To view more information about the suggested allocation match, click on the information icon.
Finding Alternative Matches
If the suggested match isn't correct or no suggestion is provided, you can click on Find & match to search the relevant allocation.
You can either copy and paste transaction fields like the bank account number, name, or payment references to see if a suitable allocation request is available.
Alternatively, simply search for known Caruso items such as the investing entity name / customer reference / payment reference / bank account number or the allocation ID.
Once reviewed you can confirm the suggested transaction match and apply payments to the allocation and optionally send an email notification to the investor.
Pro tips
You can apply payment for for a different amount than the allocation request. For example, if you have called for partial payment or the investor deposited more than they initially indicated.
To learn more about how to issue units as part of deposit reconciliation, please see this help article.
To view all reconciled payments, download and view the All Deposits report.