Bank Reconciliation and Bank Positive Pay

Overview

Bank Reconciliation and Bank Positive Pay are two standalone products from Treasury Software.  Bank Reconciliation assists in your reconciliation process through the use of its high-speed matching engine.  Bank Positive Pay is used for fraud management purposes in conjunction with your bank.  If desired, they can be used together but this is not required.

Bank Reconciliation

Bank Reconciliation automates the process of matching bank data to general ledger data.  The bulk of time in performing any reconciliation (whether it is checks, depository accounts, or even inventory) is matching the bank data (or data external to the company) with the general ledger data (data internal to the company).

Bank Reconciliation performs Automated Transaction Matching, the process that matches the bank data to the general ledger data in only a fraction of the time it would take by hand. Just in case not all the data that should be matched is done so by the ATM process, you can still manually match any remaining records.

With Bank Reconciliation, you can generate over a dozen different reports to allow your company to focus on the key part of reconciliation: exceptions.  And to provide even more assistance, Bank Reconciliation will categorize unmatched records by exception type to allow you to prioritize the transactions.

Basic Steps

The basic steps in using Bank Reconciliation are:

1. Obtain the necessary data from your bank and your accounting package.

2. Import the data.

3. Match the records using ATM.

4. Review unmatched records and manually match them as appropriate.

5. Run reports on matched and unmatched data.

6. Save, print, or export the reports as needed.

Overview - Bank Positive Pay

Bank Positive Pay is used to turn a check register stored in an accounting package (or other file) into the positive pay format as required by your bank.  This is used for fraud management purposes.

Basic Steps

1. Obtain the necessary from your accounting package

2. Import the data

3. Create the positive pay file

4. Transmit the positive pay file to the bank

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