Each month, like clockwork, bank statements and canceled checks arrive, setting off a tedious reconciliation process. You sort checks, account for deposits, and compare your account balances to those of the bank. If only it ended there. Discrepancies can initiate an irritating and time-consuming search for the differences before your statements can be reconciled and filed— then it all begins again.
The Bank Reconciliation module for Sage 100 ERP (formerly Sage ERP MAS 90 and 200) automates and simplifies the monthly reconciliation process, detects unrecorded transactions between books and banks, locates the errors and differences, records the corrections, and reconciles your books to the bank statements, all in a solution that is easy to use and implement.
Even more important, Bank Reconciliation gives you insights behind the numbers to better manage and direct cashflow, helping you to view and forecast cashflow activities with registers, reports, and analyses. You can project an estimated cashflow when you link it to your Accounts Receivable, Accounts Payable, Payroll, and Purchase Order modules.
The many features of the Bank Reconciliation module enable the use of multiple bank accounts, automatic and manual posting of checks, adjustments and deposits, quick and easy account reconciliation, complete transaction listings and details, and more.
Powerful yet simple to use, Bank Reconciliation gives you the ability to efficiently manage reconciliation activities today and helps you make better business decisions for the future with cashflow analysis and forecasting.
Features
Multiple Bank Accounts
Up to 36 separate bank accounts can be established for a single company. Transactions can be automatically posted from the General Ledger, Accounts Receivable, Accounts Payable, and Payroll modules.
Reconcile Bank Accounts
Displayed monthly activity enables you to reconcile bank accounts quickly and easily. Transactions can be confirmed as cleared using a single keystroke.
Bank Reconciliation Register
All transactions, cleared and outstanding, are listed on this detailed report for each bank account. The Reconciliation Summary shows the adjusted bank balance, computer-calculated book balance, and any out-of-balance amount.
Cashflow Analysis
The Estimated Cashflow Analysis Report combines information from the Accounts Receivable, Accounts Payable, and Purchase Order modules to provide an overall cash flow projection for four consecutive periods.
Check and Deposit Entry
Transactions not posted automatically through the other integrated modules can be entered manually. Checks, deposits, and adjustments for nonintegrated bank accounts can also be entered manually.
Bank Activity Detail
Bank transaction detail can be retained indefinitely or cleared each month after each account is reconciled.
Benefits
- Deter check fraud using Positive Pay
- Reconcile multiple bank accounts
- Analyze estimated cashflow
- Automatically reconcile checkinformation
- Control who can access and adjust balance entries
- Retain or purge detail after reconciliation
- Make one-step bank transfers from the General Ledger
- Use up to 2,048 characters for comments on adjustment entries
Reports
The Bank Reconciliation module features streamlined bank statement reconciliation and insightful reports, including:
- Bank Reconciliation Register
- Bank Transaction Recap Report
- Estimated Cashflow Analysis
Bank Reconciliation