LedgerSync does not receive Chase statements for Lines of Credit (LOC), loans, mortgages or CDs. These accounts still appear in LedgerSync with their balances, and lines of credit, loans and mortgages usually also bring in their transactions. What is missing is the PDF statement.

Overview

This is not a LedgerSync setting. LedgerSync asks for statements on these accounts the same way it does for any other account, but no statements come back for them, whether the Chase connection uses MasterCard or MX.

Chase checking and savings accounts are different: they usually do get statements through these same connections.

Other banks may also not provide statements for loan or line of credit accounts, while some do.

What LedgerSync Still Receives

For Chase, LedgerSync still receives the balance of these accounts and, for most of them, their transactions. So while you won't get a PDF bank statement for a Chase Line of Credit, the individual transactions still come in.

A Workaround: The Running Balance Report

For Line of Credit and loan accounts, the Running Balance page can help you follow the balance without a PDF statement. It works for MasterCard and MX connections.

Here's why it can help with LOC accounts:

• Lines of Credit tend to have very few transactions compared to a standard checking or business account
• LedgerSync receives those transactions and the account's balance through the bank connection
• The running balance starts from the balance the bank reports and works back through each transaction

How to Use the Running Balance Report:

1. Select the client from the left-hand panel
2. Go to Bank Connections > Running Balance
3. In the Select Bank or Account box, choose the LOC or loan account
4. If you want, set the Posted Date range to your period
5. The system calculates a running balance from the balance the bank reports, adding and subtracting each debit and credit
6. The running balance on the last transaction on or before your closing date is LedgerSync's calculated balance for that date

Check the ending balance before you rely on it. For a line of credit, the balance Chase reports can change without a matching transaction, for example when interest builds up day by day. So the running balance on your last transaction may not equal the balance Chase reports for your closing date. Confirm the ending balance with your client before you close the period.

If the page says The bank is not reporting a balance for this account, so the running balance cannot be calculated, the running balance is not available for that account. For connections other than MasterCard and MX, the page says Running Balance can not be accurately calculated for this bank and therefore not available at the moment.

Does This Apply to Other Banks?

Yes. Chase is used here as an example, but other banks may also not provide statements for loan or line of credit accounts. If statements are not coming in for a specific loan or LOC account, even though the bank connection looks healthy, the bank may not provide statements for that type of account.

In such cases, check whether transactions are still coming in (Bank Connections > Transactions), and if so, use the Running Balance page as your backup, with the same check on the ending balance.

Need Help?

• Email: support@ledgersync.com
• Related articles: What is the Running Balance Report, and Chase Statements- Why Need Account Owner Access
• For Chase checking or savings accounts whose statements are missing: Chase may not provide statements through Third Party Access. If statements don't arrive, connect with the account owner's login.