Bank Reconciliation

Reconciling bank or merchant credit card accounts doesn’t have to be a tedious task. Bank Reconciliation automates and simplifies the process so you can be sure that your general ledger matches your bank or provides details and explanations if they don’t match.

Benefits/Features

Automates and Simplifies the Reconciliation Process.

• Automated Matching. Bank Reconciliation has a powerful matching algorithm to remove the difficulty of performing reconciliations. Match checks, voided checks, deposits and all other transactions at a rate of about 4,000 records per minute. Process can restart at its prior state if interrupted for any reason (e.g. power failure), and an audit trail for each match is maintained.
• Manual "Many to Many" Matching Tools. Any records that can not be automatically matched are listed for manual matching. Matches can be "one to one", "one to many" or "many to many" to reconcile transactions that are split up differently. You can also add records and filter records to help pinpoint and reconcile matches.
• Unmatched Detail Report. After matching, all exceptions are reported on with an explanation for the difference (e.g. "check cleared bank, no G/L record").

Easy to Use.

• Easy to Install. The desktop version can generally be installed without IT support.
• Easily Import Data from Your Accounting System. Bank Reconciliation can import from every major accounting package including the ability to import Excel, Access, Fixed Text and Tab or Comma Delimited Text.
• Easily Import from Your Bank. Bank Reconciliation can read in account files from your bank in the same formats listed above.
• Reports let you manage the process of transmitting records including the ability to drill down to get details.
• Automated Scheduler. Let the automated scheduler handle all the tasks for you each day: import bank data, import general ledger data, perform automated transaction matching and back up the data to a network server.

Optional Editions

Optional "Public Reporting Edition."

The Public Reporting Edition of the software contains all of the base features and adds a complete reconciliation to prepare a fully balanced reconciliation report. Upon completion, this report satisfies external audit and Sarbanes-Oxley Section 404 requirements. It also retains historical transaction data for matching and adjustments.

Optional "Credit Card Edition."

The Credit Card Edition contains all of the base features of the software and adds the following features for reconciling merchant accounts:

• Two-Step Matching compares internal records to the credit card processor's and from the credit card processor's to the bank.
• Discounts internal records by the appropriate rate for each card and performs matches on the discounted value.
• Takes into account the deposit float delay until deposits are credited in at your bank.
• Handles multiple locations and multiple merchant accounts.

Trusted By The Experts.

Bank Reconciliation received the Gold Cup Award by the CPA Software News (now CPA Technology Advisor).

Compatible with your Business Environment.

Bank Reconciliation imports from every major accounting package and can read bank files from any system that can generate Excel, Access, fixed text, comma-delimited or tab-delimited text files (click here for more details).

Reviews/Testimonials

CPA Technology Advisor (formerly CPA Software News), Gold Cup Award: "The fastest and most accurate method of reconciling company account activity without reading a statement line-by-line a month later."

Charles J. Read, President, Custom Payroll Associates Inc.: "Bank Reconciliation has made month end bearable again. With over 10,000 items in two accounts our situation had become unbearable. Now we can complete our reconciliations normally in less than a day. . .The tech support during the change over and start up allowed us to be successful. This is a great little program (unbelievably good value considering the price). We are very pleased with the program, the service, and the ongoing enhancements."