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Express Bank Reconciliation

The Express Bank Reconciliation System automates and simplifies the monthly reconciliation process, detects unrecorded transactions between bank and books, identifies differences and reconciles your bank statement to books. Its user friendly web based front end with a calendar for tracking will guide the user step by step through the reconciliation process.

Major Features

  • Data management process that automates the import of bank transactions from your Bank and GL cash records from your Accounting Package. Validations on input records/files are performed and reported.
  • High speed matching engine based on configurable matching rules and classification of GL entries for more precise automatic reconciliation.
  • Carryover process that tracks un-reconciled bank and financial records from previous month reconciliations.
  • Manual matching process that allows user to resolve un-reconciled transactions for unique situations and override automatic reconciliation results.
  • Retroactive feature that allows user to rerun reconciliations from prior months for corrections or to include auditor adjustments for prior years.
  • Electronic notepad that allows user to document un-reconciled transactions.
  • Internal control process that ensures that subsidiary ledger cash transactions are posted correctly to the GL at a summary level. GL adjustment entries are automatically created to identify differences.
  • Audit trails and controls for compliance with audit, accountability and reporting requirements.
  • User friendly web based front end with a calendar for tracking and a step by step process for guiding the user through the reconciliation process.
  • Application security that allows only authorized users to view or perform different reconciliation processes.

Reporting

Access to information is easy. The Express Bank Reconciliation System includes 16 standard reports of detail, summary, control and audit reports that may be viewed through a web browser or Microsoft Excel.

Standard Reports

  • Reconciliation Summary
  • Unreconciled Details
  • Reconciled Details
  • Bank Summary
  • Bank Details
  • JE Summary
  • JE Details
  • A/P Check Summary
  • A/P Check Details
  • A/P Checks Outstanding
  • Payroll Check Summary
  • Payroll Check Details
  • Payroll Check Outstanding
  • Cash Receipt Summary
  • Cash Receipt Details
  • Cash Receipt In Transit Details

For more information or to schedule an on-site product demonstration
call us at 1-866-722-MSTG