bank reconciliation module

Bank Reconciliation

Know exactly what your cash position is quickly and easily with Triumph ERP’s Bank Reconciliation module.

New Feature in Triumph 6.3. Bank Feeds is a great time saving new feature that allows transactions from your company’s real/external bank accounts to be easily imported into Triumph, and automatically matched, manually matched, or automatically posted as a new entry. Also New Zealand ASB bank accounts can be used in bank feeds.

A bank reconciliation is the process by which the bank account balance in an entity’s books of account is reconciled to the balance reported by the financial institution in the most recent bank statement. Any difference between the two figures needs to be examined and, if appropriate, rectified. With the Triumph ERP software Bank Reconciliation module, all banking functions are centrally controlled so you can do a bank reconciliation in minutes instead of hours. It automatically calculates your exact cash position at any given time so you know precisely how much cash you have to run your business and invest.

The Triumph Bank Reconciliation module is dependent on the General Ledger and integrates with the Debtors, Point of Sale and Creditors modules.

You can reconcile any number of bank accounts, including transaction and credit card accounts. In a multi-divisional organisation, you can operate a corporate bank account and have each division effecting their own deposits.

Direct transfers, direct debits and credits are easily entered. And if your reconciliation doesn’t balance, the inquiry screen and reports will help you find your error in double-quick time.

When you reconcile your business bank account, you compare your internal financial records against the records provided to you by your bank.  Triumph ERP also offers even greater efficiency with an Automatic Bank Reconciliation option. With the advent of on-line and internet banking, information can be automatically entered and matched against your records. This reconciliation helps you identify any unusual transactions that might be caused by fraud or accounting errors, and they can also help you spot inefficiencies.  

Reconciliation is an accounting process that ensures that the actual amount of money spent matches the amount shown leaving an account at the end of a fiscal period. With Triumph ERP you perform reconciliation at regular intervals with greater efficiency and ease when checking for errors or fraudulent activity.

Bank Reconciliation,General Ledger

Immediate on-line postings allow you to get an accurate up to the minute balance on any account.

Simply start with the Standard Base Pack, consisting of 6 modules, then add one or more of the remaining 47 fully integrated modules that are relevant to your business needs.

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