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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