What it does

In accounting management, controlling cash flow and payments plays an important role. When a business has a high volume of transactions, misunderstandings between the accounting, treasury, and cashier departments can easily occur. To address this issue, the application provides a solution through reconciling accounting transactions, bank statements, and managing cash flow within the business.

Key Features

• Bank Statement and Cash Register Management:

  • Manage the opening and closing balances of bank statements to detect discrepancies in recorded transaction details.

• Bank Statement Entry Reconciliation:

  • Reconcile accounting entries with bank statement transactions and recorded payments.
  • Record direct payments made via cash or bank transfers.

• Manual Reconciliation and Reversal of Journal Entry Reconciliation:

  • Support manual reconciliation.
  • Allow cancellation of reconciliations between journal entries.

Business Value

• Detect and resolve discrepancies between accounting records and actual transactions promptly.
• Minimize errors in recording and reconciling accounting transactions, bank statements, and cash flow.
• Closely monitor the opening and closing balances of cash and bank accounts.
• Provide a clear and transparent financial overview through detailed reconciliation of accounting entries and bank statements.

Editions Supported

1. Community Edition