Improve bank reconciliation processing
- Can easily handle massive volumes of transactions.
- Maintain the integrity of your data by keeping audit trails of reconciled and un-reconciled transactions.
- Enjoy total control and delegate the reconciliation process to junior’s whilst you focus on more important functions of the organization.
- Save time and eliminate errors by enabling automation of the bank reconciliation process with the requisite controls, ensuring the integrity of the result.
Before you match your transactions define security roles per user in User Admin. With this option you can decide who creates rules, who can match and who can approve.
Datasmith Electronic Banking Africa allows you to define on each chequebook ID matching rules that will be used to automate matching for your receipts and payments. Rules can be defined based on date, reference, and amount .All three or any one of the three can be used.
Import Bank Statement
All local bank formats are supported.
Datasmith Electronic Banking Africa will validate the statements being imported; with this feature no duplicates are allowed. Import Validation will also check if the statement numbers are sequential and will validate the opening statement balance imported against the previous imported closing balance.
Process Recurring Transaction
Recurring transactions are transactions that appear on your bank statement and are not captured in your cashbook such as bank charges etc. You can define as many recurring transaction for a single chequebook. At the time of matching, these transactions will appear in red and just by clicking the recurring transaction button these transactions will be processed and created in cashbook payments as a batch.
Auto match will match bank and cash book transactions. There are two grids, cashbook transactions and statement transactions. As you match transactions, the application will remove those transactions from the cashbook & statement transactions grids
Manual Match with notes
You can also manually match bank and cashbook transactions and attach notes for easy reference.
With Datasmith Electronic Banking Africa you can match one to one transactions, one too many and many too many. Once matched, you can even export them to excel for verification.
Process final reconciliation and update your cashbook after the reconciliation all your reports showing the processed transactions will be printed.