Automated bank reconciliation

Bank reconciliation « Scroll over image for detail or click to expand.

Automated bank reconciliation significantly reduces the effort required to reconcile large transaction volumes. Utilising automation, the module will search for appropriate matches within your system and let you reconcile them with a single click. Bank statements can be automatically loaded, saving time, while a detailed notes field makes it easy for operators pick up and solve issues without delay. User-definable matching routines can be configured to your precise needs, enabling you to pinpoint with total accuracy all transactions lodged by your bank against the corresponding transactions within your cash book.

Direct data load

Simply upload un-reconciled transactions from any of the major clearing banks, select from the many user-definable matching routines and the system will automatically prompt matches for you. Single or multiple transactions are then reconciled with a single click, bringing speed and accuracy to your daily routine.

You can also generate nominal transactions where the transaction exists on a statement but is generated outside the software. In addition to generating a full audit trail, Automated bank reconciliation enables you to clearly track, store and follow up any actions. The process flags up mismatched information in seconds, enabling you to quickly reverse and correct user mistakes.

Matching templates

Flexible matching templates ensure the system searches for appropriate matches with speed and accuracy. You set the rules, which can encompass any combination of criteria, such as account, date and reference, pinpointing with accuracy transactions lodged by your bank against the correct transactions within your cash book.

Accurate and auditable

In addition to generating a full audit trail, a notes facility enables you to clearly track, store and follow up any actions which may otherwise slip through the net. The process flags up mismatched information in seconds, enabling you to quickly reverse and correct user mistakes.

The following standard bank formats are provided with the module:

• Alliance & Leicester
• Bank of America
• Barclays Bank
• HBOS
• HSBC
• NatWest
• The Co-Operative Bank

Further information:

• Download a case study
• Contact us

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