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BANK RECONCILIATION

Keep Tight Control Over Your Company’s Cash; Manage Capital Wisely

TRAVERSE® Bank Reconciliation application helps you streamline and improve the reconciliation of bank statements with general ledger bank accounts. It makes important updates to TRAVERSE General Ledger and receives timely entries from the other applications.

With Bank Reconciliation, you’ll know which checks have cleared, which transactions are outstanding, which bank accounts contain what amounts, and exactly where your money is. Find errors and record differences between your books and the bank easily with two types of reconciliation from the Reconciliation Report—book-to-bank and bank-to-book. Reconciling is fast and simple. You can clear transactions with a single mouse click—line by line by a specific range of checks or all at once. If you make a mistake, reversing a selection is just as easy.

You need to make the best decisions about the day-to-day operations of your business. TRAVERSE Bank Reconciliation gives you the accurate information you need to make the most of your cash. Using multiple bank accounts for Accounts Receivable/Sales Order deposits and Accounts Payable/Purchase Order checks gives you the flexibility to receive money and to disburse money from different accounts.

Additional Bank Reconciliation Features:

unlimited number of bank accounts with the Bank Accounts screen
account balance automatically displayed from the general ledger account if Bank Reconciliation is interfaced with General Ledger
last statement balance and statement date updated when reconciled
enter recurring adjustments only once
enter a transaction in any currency if the multicurrency option is on
void a check before it is sent or stop the payment of a check before it is cashed
void any check after it has been posted
define your own default descriptions and references
interaccount transfers and manual adjustments
post transactions to multiple years
reprint the last posting log
stop the payment of any check, even if it was posted from an interfaced application

purge a cleared transaction by bank account ID and by transaction date
review total debits and credits posted to GL for each period in the Post Transactions Log
ability to view account number, description, contact information, and statement through the Bank Accounts List
print journal to check for errors and omissions
maintain an accurate audit trail
reports that list the cleared transactions, outstanding transactions, and bank-to-book and book- to-bank reconciliation information

Bank Reconciliation Reports:

Bank Reconciliation Journal
Reconciliation Report
Bank Account Register
Bank Accounts Lists
Recurring Adjustments List

Click here to see a list of all available TRAVERSE® applications