Fast Coding

Fast Coding is a tool designed for working quickly with your IPA Books+ bank account transactions. This is a particular requirement for accountants and bookkeepers who enter transactions on behalf of their clients, however anyone can use Fast Coding. 

 The functionality can be accessed by selecting the Fast coding tab within IPA Books+.

 You can continue to use the Bank transactions tab if you prefer that method. 

 

 

Key Functionality

Splitting transactions – By selecting the top item on the dropdown list “Split”, a dialog box appears showing the details of a transaction and enabling it to be split. 

 

Keyboard navigation – The data on this grid can be navigated from the keyboard, and any changeable fields (such as account code and GST code) can be typed into with relevant account code matches being displayed in response to user input.

Key Fields Explained

Date Range – Transactions between these dates (inclusive) are displayed in the cash coding grid. Defaults to the beginning of the last calendar month through to the current date. 

Date – the transaction date according to the bank statement.

Reference – the reference field if provided by your bank.

Type - This displays the transaction type as provided by the Bank

Description – the description field if provided by your bank.

Money Out – payment of money (debit).

Money In – receipt of money (credit).

Tax – the GST content of the transaction. This is positive for a receipt and negative for a payment.

Qty – the quantity associated with the transaction.

Account – a combo box which allows you to search with your mouse (by using the dropdown list) or with your keyboard (by entering text and reviewing relevant account codes which match your search). Simply press enter to select the highlighted account code.

Tax Code – Identical to the Account Code field above but for selecting the GST Code.

Contact – Ability to select a contact for the transaction. This is non-mandatory for Fast coding. 

Status - Icons representing the various status' of transactions such as 'Locked' or 'Saving' will appear in this column. If you hover your mouse over any icon, information on what each icon means will appear.

 

This tab differs from the “Bank Transactions” tab in a couple of key ways:

  1. Once a transaction is coded, it does not disappear from the screen.
  2. If a transaction is coded on this screen, to avoid double coding it will disappear from the “Bank Transactions” tab.
  3. Contacts are not compulsory, and where they are not entered “Default Contact” will automatically be assigned.

 

Classifications

If you have Classifications set up in your IPA Books+ Book, you will see a Classification field on the Fast Coding window as well as in the Split window. If you don't have any Classifications setup, these fields won't be visible.
Only Active Classifications will be able to be coded against a transaction.
If you have a Classification set to be 'Used by Default' this classification will automatically be used against each transaction where you don't manually select a Classification.  

 At the top of the Fast Coding window is a Transaction Search field. Using this field, you can filter the Fast Coding window to only display transactions that match the search criteria you enter.m The Transaction Search works with the Date, Description, Money Out, Money In and Account fields.

The Search function will also search within Split Transactions and uses wildcards to enable you to find transactions where the description is a string of text (such as VISA-ReckonLTD-3201-SwanHill-AU)

You need to enter a minimum of three characters to perform a search.

Some Examples:

Enter Reckon, only transactions that contain Reckon in the Description column will appear onscreen
Enter 100.50, and only transactions with 100.50 in Money in or Money out (or description field) will appear onscreen
Enter Consulting Income and only transactions coded to Consulting Income will appear onscreen

Shortcut Keys

+   - While in the Fast Coding window, pressing the +  key will automatically code the transaction with the same coding as the previous transaction, where they are both the same transaction type (i.e Money In or Money Out)

 /  - While in the Fast Coding window, if you press the / key, the Split Window will automatically open

Frequently Asked Questions

How can I create a transaction rule?

Transaction rules are currently unavailable and will be released in the next iteration of this tool.

What happens if I change a transaction after coding it?

If a transaction is changed in Fast Coding, the updated transaction will replace the original transaction that was previously entered. If a transaction is created using the Fast Coding or Bank Transactions tabs and then modified within IPA Books+, this will break the association with Fast Coding as the transaction will no longer correspond with the transaction on the bank statement.

What happens if I code a transaction up under the “Bank Transactions” tab?

The coded transaction will appear in Fast coding as it was coded up under “Bank Transactions”.

How did we do?

IPA Books+ Transactions

Reconciliation - IPA Books+

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