BankRecon
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Overview
What is BankRecon?
BankRecon automates as much as possible of the cash reconciliation process and provides
the tools to manually reconcile the remaining items.
Business need
The bank reconciliation is a fundamental accounting practice that is often misunderstood
and neglected to the detriment of the business as a whole. A bank reconciliation
that ties up with the accounting and other core systems is the
first line of detection of accounting errors and fraud. Businesses with large transaction
volumes have difficulties reconciling their cash positions between the bank, accounting
systems and the core systems that initiate those transactions.
How we solve it
BankRecon provides an easy to use, web based system that can handle millions of
transactions in hundreds of bank accounts. Bank statements and cashbook transactions are imported using a range of industry standard file formats and databases.
Transactions are automatically reconciled using configurable rules. Journal entries for standard
transactions can be produced and exported. Tools are provided to make the manual portion of the reconciliation
as painless as possible. Everything is handled by a bank reconciliation engine that
follows strict accounting rules resulting in a balanced bank reconciliation 100%
of the time. Reports are available to show the reconciled position of any account
at any time.
10 Reasons to use BankRecon
- Saves time and money
- Easy to use
- Easy to maintain
- Highlights incorrect transactions immediately
- Integrates into your accounting systems
- Integrates into your other core systems
- Can be stand-alone cashbook
- Keeps track of your cash
- Handles large volumes
- Your bank reconciliation will always balance
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