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Bank Reconciliation Process - Executive
Summary
What does it do?
Bank Reconciliation takes two sets of data—and matches them based
on rules that you define.
If the records match—they are tagged with an 'match audit trail
number'—so you can easily research and report on them.
If there are any records which didn't match—they will remain unmatched
and roll forward to each subsequent period until matched.
When viewing unmatched records, the user can see the exception reason—the reason why the record didn't match. This enables your staff
to focus on the high exposure items first. Identify, track and resolve
your exceptions.
Exclusive—Balances your account, and generates a Reconciliation
Report with Stay In Balance™. When properly completed, this
report satisfies audit requirements.
Highlights of benefits
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Free your staff from time consuming 'ticking and tying'
enable them to focus on exceptions.
High speed matching with Automated Transaction Matching™
(ATM)
Select the high speed matching rules for each account, such
as check-to-check, void-to-issue, many-to-many, credit cards
and more.
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Never prepared a bank reconciliation?
Not a problem.
Reconciliation Report with Stay In Balance™ - Whether a
CPA or entry-level accountant, the Reconciliation Wizard will
enable you to prepare an 'audit ready' report. When properly
completed, the report satisfies external audit and Sarbanes-Oxley
Section 404 requirements. |
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Have your staff focus on high exposure items first.
Exception Reports don't simply list the unmatched items -
we provide the reason why the record didn't match,
such as 'check cleared bank for a different amount then the
G/L', 'check already cleared', and more.
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Matching Credit Cards or have advanced matching needs?
To avoid 'false positives', many matches are based on multiple
transaction attributes. Credit card rules are built-in with
site number, amount, card type and date ranges. Customize
your unique matching requirements through our built-in rules
- or have us script them for you.
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Easy to use Reporting - export
to Excel.
Even work in Excel with our certified (Veritest tested) Excel
add-in.
Advanced NET reporting grid includes Quick Find and customizable
user layouts.
Use our built in reports or export to Excel to complete the
Bank Reconciliation process. |
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Compatible with all banks and major
accounting packages.
Our Bank Reconciliation process works natively with all
tabular bank formats, as well as BAI. Export accounting package
or processor data to csv, Excel or other format for processing.
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Save time with new, simplified Automation and Integration
tools.
Software Integration Kit (SIK) - no programming required.
Command Line Interface can be used with 3rd party software.
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Grows with your needs.
Start with SQL Express - then migrate to the SQL Server version
of our Bank Reconciliation software and share data within your
organization. |
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Full Audit Trail and Security.
Audit trail number for all matched records. Tracks all imported
transactions.
SQL Server edition provides corporate level data security. |
Next - See additional features and more detailed information
Need additional assistance? Call us at 866 226-5732.
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