Bank Reconciliation


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Keep Tight Control Over Your Company's Cash; Manage Capital Wisely

 
TRAVERSE Bank Reconciliation application helps you streamline and improve the reconciliation of bank statements with general ledger bank accounts. It makes important updates to TRAVERSE General Ledger and receives timely entries from the other applications.

You'll know which checks have cleared, which transactions are outstanding, which bank accounts contain what amounts, and exactly where your money is. Find errors and record differences between your books and the bank easily with two types of reconciliation from the Reconciliation Report -- book-to-bank and bank-to-book. Reconciling is fast and simple. You can clear transactions with a single mouse click -- line by line by a specific range of checks or all at once. If you make a mistake, reversing a selection is just as easy. You need to make the best decisions about day-to-day operations of your business. TRAVERSE Bank Reconciliation gives you the accurate information you need to make the most of your cash. Using multiple bank accounts for Accounts Receivable/Sales Order deposits and Accounts Payable/Purchase Order checks gives you the flexibility to receive money to and disburse money from different accounts. You can also keep your cash in interest-bearing accounts as long as possible with inter-account transfers and manual adjustments.

Bank Reconciliation gives you the ability to eliminate errors and control cash outflow with the Void Checks and Stop Payments function. All voided Accounts Payable transactions are completely reversed. You'll save time during transaction entry by entering your recurring adjustments only once; these include finance charges, service charges, and interest income. You'll also have faster data entry because you'll have the flexibility to define your own default descriptions and references.

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Bank Reconciliation Transaction Entry
Use the Transactions function to enter deposits, disbursements, adjustments, and transfers that have not been created through other applications.
Additional Bank Reconciliation Features:
  • unlimited number of bank accounts with the Bank Accounts screen
  • account balance automatically displayed from the general ledger account if Bank Reconciliation is interfaced with GL
  • last statement balance and statement date updated when reconciled
  • enter recurring adjustments (finance charges and service charges to your bank accounts)
  • enter a transaction in any currency if the multicurrency option is on
  • void a check before it is sent or stop the payment of a check before it is cashed
  • void any check after it has been posted
  • stop the payment of any check, even if it was posted from an interfaced application
  • purge a cleared transaction by bank account ID and by transaction date
  • review total debits and credits posted to GL for each period in Post Transactions Log
  • ability to view account number, description, contact information, and statement through the Bank Accounts List
  • print journal to check for errors and omissions
  • maintain an accurate audit trail
  • reports that list the cleared transactions, outstanding transactions, and bank-to-book and book-to-bank reconciliation information
  • Bank Reconciliation Journal
  • Reconciliation Report
  • Bank Account Register
  • Bank Accounts List
  • Recurring Adjustments List

You can set up an unlimited number of bank accounts with the Bank Accounts Screen.
Bank Reconciliation - Bank Accounts and Voiding Checks
You can use this function to void a check before it is sent or to stop the payment of a check before it is cashed.


Download the Bank Reconciliation Self Running Demo now.