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Website last updated 29 Aug 2024

Reconciliation Bank Reconciliation

In order to improve the efficiency of the bank reconciliation process we take a careful look at the way that statements are imported.  We provide a single user interface for importing multiple bank formats into multiple companies.


We study the format of bank statement entries to determine which are likely to have been entered into the books already (e.g. outgoing cheques, BACS payments and cash deposits) and those that are likely to require a new posting.  Applying these rules to the statement entries, we present the user with a list of proposed postings that they can manipulate and post when ready.


Our standard process posts any incoming sales ledger payments into a sales ledger clearing account, and similarly for the purchase ledger.  The whole process of importing the statements, making the required postings and automatically reconciling the bank statements should take, at most, a minute or two to complete - even for a large number of accounts over many companies.

Our cash allocation screen can deal with allocating cash to many invoices, deal with bank charges, credit card charges or commission, all on one simple process.  Each allocation can result in up to five documents being posted and various reconciliations being done with minimum effort and far quicker that the equivalent manual processes.


If the remitter supplies an electronic list of invoices being paid we can read the list and automatically prepare the allocation, saving even more time.

Sales/Purchase Ledger  Cash Allocation Supplier Statement  Reconciliation

One way to ensure that you only pay what is due is to reconcile supplier statements with outstanding items on the purchase ledger.  Our system allows users to reconcile incoming supplier statements, flagging each invoice as ready for payment (subject to other approvals).


The system can read and allocate electronic statement files.

User - Radisson Edwardian Hotels an ambition to create Britain’s most  dynamic independent hospitality group