AutoBankRec

Overview
  • Advanced Bank Reconcilation
  • Scalable Solution
  • Matching Rules
Auto Bank Rec Takes the pain out of Bank Reconcilation.

Auto Bank Rec™ is the UK's leading automatic bank reconciliation software, implemented in scores of companies across the country.

It automatically matches thousands of bank transactions with corresponding cash book entries in just a few seconds.

It can also suggest intelligent postings to resolve any cash book or bank discrepancies and can generate clear reconciliation reports in various formats.

With Auto Bank Rec™, this entire process can be completed in minutes rather than days.

Scalable Solution

There are three editions of Auto Bank Rec.

  • Auto Bank Rec™ - Lite
    • Up to 2,000 transactions per month
    • Reconcide up to 3 accounts as standard
    • Limited functionality
  • Auto Bank Rec™ - Standard
    • Up to 5,000 transactions per month
    • Reconcide up to 6 accounts as standard
    • Standard functionality
  • Auto Bank Rec™ - Enterprise
    • Unlimited transactions per month
    • 20 accounts as standard
    • Enhanced functionality
Saves Time & Reduces Administrative Expense

Manual reconciliation is a time-consuming and laborious task. By automating the vast majority of this process, staff can spend their time on more productive activities.

Improves Accuracy & Consistency

Mistakes can arise during the tedious process of manually reconciling bank and cash book transactions. Where discrepancies are discovered, staff may handle them inconsistently.

Auto Bank Rec improves matching accuracy and lets you specify how any bank/cash book discrepancies will be handled consistently.

Increases Financial Visibility

By regularly conducting a bank reconciliation, an organisation can maintain an accurate and up to date picture of its current cash balance. It enables an organisation to spot bank errors or cash book errors and to expose any financial impropriety (such as employee theft or fraud) as soon as possible.

Auto Bank Rec also ensures this information is readily available and clearly presented through its various reports.

  • Transaction Matching
    • Auto-matching & Manual-matching
      - Rules based automatic matching and flexible manual matching with search and filter options.
    • Advanced Matching Criteria
      - Configurable matching criteria allows users to select multiple rules and tolerances to find matches.
    • Matching Programmes
      - A series of matching algorithms can run together to match the bulk of your cashbook with a single click.
  • Reference Translation
    - Enables users to define which bank statement references equate to specified cash book references.
    - Correct for commonly shortened forms or encoded values.
  • Roll-Up Groups of Transactions
    - Handles complex reconciliations by rolling-up transactions with "many to many" matching
  • Undo Reconciliations
    - Capacity to unreconcile transactions to allow users to correct any mistakes quickly and easily
  • Exception Handling
    • Directly Post Exceptions
      - Can be customised to post entries directly back to the accounts package
    • Create New Postings
      - Handle differences or currency rounding errors by creating new postings to your accounts system
    • Advanced Exception Tracking
      - Allows users to monitor the progress of complex discrepancies towards resolution
  • Reporting
    • Reconciliation Reports
      - Produces summary and fully-itemised reporting, providing an accurate and up-to-date view of cash positions
    • Bank Statement History
      - Maintains complete bank statement history for each account
    • Historical Reporting
      - Produces historical transaction reports up to a user-specified date
    • User-Defined Reporting
      - Can support user-generated reports
  • Integration
    • Customisable Bank Statement Formats
      - Bank statements can be imported in multiple formats, configured for all the major banks, including HSBC, NatWest, Barclays, Lloyds TSB, Co-operative Bank, Ulster
    • Multiple Bank accounts
      - Capacity to handle any number of bank accounts
    • Accounts Software Plug-in
      - Operates on a stand-alone basis or can be customised to operate with all the main accounting packages, including SAP, Oracle, Microsoft Dynamics (Navision), Microsoft Dynamics (Great Plains), Microsoft Dynamics (AX & SL), Lawson, Iris Exchequer, Access Dimensions, Pegasus Opera II, Agresso, CODA, Sage.
    • Currency Neutral
      - Handles transactions in multiple different currencies
    • Integrated Security
      - Permits only designated employees to access specified accounts
Further Information The key benefits and features of Auto Bank Rec™ are set out within this PDF document: