CherryMoney University Training: accounting, invoices, VAT, expenses and AI finance workflows
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Module 12

Banking, Open Banking And Reconciliation

Review connected-bank data, matching and reconciliation while keeping consent, provider and payment-execution boundaries explicit.

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Learning Goals

By the end of this module, learners should be able to complete the workflow in CherryMoney and explain the accounting reason behind each important step.

  • Explain how Open Banking data access differs from payment initiation.
  • Review a sandbox or seeded connected-bank feed where enabled.
  • Match bank activity to invoices, payments and accounting records.
  • Resolve reconciliation exceptions without silently changing source evidence.

Lesson Plan

Use these lesson blocks for lecture delivery, live demo and class discussion.

Provider and consent boundary

Open Banking access depends on an approved provider, an authorised connection and current consent. A connected account does not automatically mean CherryMoney can move money.

Matching and reconciliation

Bank lines should be matched to accounting evidence, with unmatched, duplicate or ambiguous transactions kept visible for review.

Control and evidence

Connection health, import provenance and reconciliation decisions should remain reviewable for accountants and finance teams.

Step-By-Step Lab

This is the student-facing sequence for the practical class. Complete the steps in order, then capture the evidence listed below.

  1. Confirm the training connection is sandboxed or seeded and does not use a real bank account.
  2. Review connection status, institution, account context and the available transaction period.
  3. Open the transaction review or reconciliation area.
  4. Match transactions only when the amount, date, counterparty and accounting evidence support the match.
  5. Investigate duplicates and unmatched items before marking the period reviewed.
  6. Record a short reconciliation note for any unresolved difference.

Classroom Run Sheet

Use this structure to teach the module in a repeatable classroom or lab session.

Explain
Explain this module Introduce the accounting concept first: customer, invoice, VAT, expense, fund, role or audit trail.
Demonstrate
Demonstrate this module Trainer performs the workflow once in CherryMoney using a projected simulator account.
Practise
Practise this module Students complete the same workflow in their own VM tenant using seeded records.
Review
Review this module Students compare system outputs with expected accounting treatment and discuss errors.
Evidence
Evidence this module Students submit screenshots, exports, PDFs or short explanations for assessment.

Simulator Practice

These are the VM practice tasks for this module. They are written as student-facing tasks and can later be wired into a guided simulator checklist.

Practice Brief

  1. Open a seeded bank connection and review its status and consent information.
  2. Match one incoming bank line to an invoice payment.
  3. Match one outgoing bank line to a purchase or expense.
  4. Leave one ambiguous transaction unmatched and explain what evidence is missing.
  5. Complete a reconciliation check using fictional balances.

Knowledge Check

Use these questions for in-class review, a short quiz or a reflective workbook entry. Answers are hidden by default — open each one to check your work.

  1. Q1 What is the difference between Open Banking data access and payment initiation? Answer

    Data access — reading bank-account information through an approved provider — is a separate control from actually moving money. A connected account doesn't automatically mean CherryMoney can execute a payment.

  2. Q2 What evidence should support a bank-to-ledger match? Answer

    Matching amount, date, counterparty and accounting evidence — not just a loose resemblance between two numbers.

  3. Q3 Why should an ambiguous bank line remain unmatched until reviewed? Answer

    Matching it prematurely could silently misstate the accounts; keeping it visible and unmatched preserves the evidence until someone can confirm it properly.

Assessment And Evidence

Students should submit proof that the workflow was completed and a short explanation of the decisions made.

Student Evidence

  • Submit a reconciliation summary showing matched, unmatched and excluded items.
  • Explain why read access, reconciliation and payment initiation are three different controls.

Trainer Notes

  • Never request learner banking credentials. Use fixture data or provider sandbox access only.

Continue The Course

Move through the modules in order for a complete accounting, invoicing, compliance and AI finance workflow.

Module 10 4 hours

Charity, VCSE, Grants And Restricted Funds

Teach fund accounting concepts through charity and VCSE workflows.
Module 11 3 hours

Accountant Workspaces, Governance And Admin Controls

Control role-aware access, accountant client grants, Analytics admin policy, publishing controls, verification and audit trails.
Module 13 4 hours

Cherry Analytics, KPIs And Management Reporting

Use the Cherry Analytics companion workspace for deterministic reporting, KPI review, commentary and evidence where the organisation has Analytics access.
Module 14 5 hours

Forecasting, Scenarios And Group FP&A

Build deterministic forecasts from assumptions and dated events, then review scenario, multi-entity, elimination and FX effects at group level where enabled.