Precode Statement

For Australian accounting firms

Statements, coded the way your firm already codes them.

Precode learns from the ledgers you have already finished, then codes new bank statements into your own chart of accounts. You review what it is not sure about.

Your firm's administrator creates accounts. There is no self sign-up.
Bank statement line Your account
WOOLWORTHS 1234 SYDNEY 300 Purchases coded 41 of 41 times
XERO AU SUBSCRIPTION 485 Subscriptions coded 12 of 12 times
BP CONNECT ARTARMON 449 Motor Vehicle 6 of 9 times — worth a look
COASTAL PLUMBING SUPPLIES needs you not seen before

Every line lands in one of three piles

Auto

Coded from a pattern your firm has repeated enough times to trust. Left alone unless you open it.

Review

A suggestion with the reasoning attached, because the history behind it is thinner or split across accounts.

Unknown

A merchant with no history at all. Code it once and it is recognised from next month on.

It learns from your ledgers, not from everyone's

The evidence is the work your firm has already signed off. A supplier coded to 429 forty times is a strong pattern; one coded twice is a suggestion, and Precode says which it is. Corrections carry more weight than agreement, so the coding follows your firm as it changes.

Nothing is shared between firms. One firm's history never informs another's coding.

Start

Onboard a client

Two things to begin with: who the client is, and the first account you will import statements from. The chart of accounts comes next.

As you refer to them. It is only shown to your firm.

What you call the account this client's statements come from.

Code a statement

The account this statement belongs to. Picking the wrong one teaches the wrong client's history.

Excel .xlsx .xls or .csv