The
cashbook reconciliation is an integral part of the
General Ledger and allows users to reconcile
any General Ledger accounts, such as accruals, prepayments
and other contra accounts, as well as standard bank
accounts.
Bank reconciliation is undertaken
either by drilling down into individual General
Ledger accounts and reviewing 'cleared' or 'un-cleared'
transactions as appropriate or using importing bank
statements that have been downloaded directly via
CSV from various banking products.
Automation
removes effort
The automatic bank reconciliation
will approach the reconciliation of transactions
by attempting to match a number of key conditions
such as transaction date, payment reference and
amount. This will leave the user with the
task of reconciling only the items that could
not be matched exactly by the automated process -
i.e. the exceptions.
A standard bank reconciliation
report is provided, enabling a user to base
the report on criteria such as last transaction
date and bank statement balance.
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