Workflow: Ingesting and Reconciling Cash Data in Horizon Finance

This article outlines the full workflow for importing bank transaction data, tagging/reconciling items, and progressing bank accounts from Incomplete Data to Approved status, enabling accurate Direct Cash Flow reporting.

Overview of the Cash Data Workflow

Bank accounts start each month in Incomplete Data status. To move them to Approved status, the following steps must be completed:

1. Ingest bank transaction data for all bank accounts across the organization/fund.

2. Tag and reconcile all imported transactions.

3. Move reconciled bank accounts to Awaiting Checks status.

4. Perform a final check to ensure no unreconciled transactions remain.

5. Submit the reconciled data for approval.

6. Approve the data to finalize.

Step 1: Start at Organization or Fund Level

• Log into Horizon Finance.

• Navigate to Accounting > Import Data.

Step 2: Select Data Type and Period

• From the Data Type dropdown, select Cash.

• Choose the period for which you want to upload cash data.

• Click Generate.

Step 3: Review Bank Accounts with Incomplete Data

• The system will display a list of bank accounts (for entities you have access to) that currently have Incomplete Data status.

• Find the bank account you want to update.

• Click the hamburger icon ☰ next to the bank account and select Import Data.

Step 4: Import Bank Transactions

You will arrive at the bank account’s landing screen:

• Click the hamburger icon ☰ again next to the specific bank account.

• You have two options:

  • Import Bank Statement (Manual)

  • Sync Bank Statement (API Feed) — only available if the bank account has a direct feed configured.

Manual Import

• Select Import Bank Statement.

• Drag and drop the bank statement file (CSV format) into the upload box.

• Use the provided (available below) — Important: The transaction date must be in YYYY-MM-DD (US) format.

• Check the most recent transaction date imported previously to avoid missing or duplicate data.

• Click Upload.

Sync Bank Statement

• Select Sync Bank Statement.

• Enter the From Date and To Date for the period you want to sync.

• Click Sync.

• Transactions will not duplicate even if date ranges overlap, as long as previous statements are not deleted.
  [Link to article on voiding/deleting bank statements]

Step 5: Verify Imported Transactions

• On the bank account landing page, check the Statement Balance to ensure it matches your bank data.
  Tip: The Reconciled Balance follows the accounting workflow and may not be fully up to date yet.

• Repeat the import steps for all bank accounts with movement.

• Bank accounts with no movements do not require import.

Step 6: Tag and Reconcile Transactions

• Access transactions via the bank account hyperlink in Import Data or Bank Accounts.

  

• All imported transactions will be in Draft status.

• Click + Add New Transaction to tag/reconcile a bank transaction.

Tagging/Reconciliation Process

• Enter the Contact Name (Payee).
  If the contact does not exist, create a new one — [Link to Create New Contact Article].

• Select the appropriate Budget Line Item, which determines the GL Name and Global Reporting Line Item.

• Choose the correct Tax Rate.
  If missing, submit a ticket to add it — [Link to How to Create a New Tax Rate].

• For transactions requiring multiple allocations, click + Add New Transaction and repeat the steps.

• Enter positive or negative amounts as necessary. The sum of all lines must equal the total bank transaction amount.

• Once balanced, the Submit for Approval button becomes active.

Step 7: Approval Workflow

• After submission, the transaction moves to Awaiting Approval.

• A user with the Checker role can either:

  • Approve the transaction, moving it to Reconciled status and including it in the Direct Cash Flow Report.

  • Return to Draft for corrections.

Step 8: Complete All Transactions

• Continue tagging and approving transactions until all transactions for all bank accounts are in Reconciled status.

Step 9: Move Bank Accounts to Awaiting Checks

• Return to Accounting > Import Data > Cash.

• Select all fully reconciled bank accounts.

• Move these to Awaiting Checks status.

Performing Checks

• The system verifies there are no unreconciled transactions.

• A Green Tick appears under the Direct Cash Flow column for accounts that pass.

• Confirm the checks to move accounts to Awaiting Approval.

Step 10: Final Approval

• If required, approve the completion of bank accounts.

• This moves the bank accounts to Approved status.

Summary

If you need help with any specific step, check out our related articles:

• How to Set Up Bank Feeds

• Void and Delete Bank Statements

• Creating New Contacts

• How to Create a New Tax Rate

• User Roles and Responsibilities