Complexity Simplified

The Reconciler

The Reconciler is an easy to use automatic cash book to bank statement reconciling program.  It can be used as “a book of first entry”, or purely as a reconciling device.The Reconciler consists of two files, the cash book (file) and the bank statement (file).  These match electronically. The cash book (file) is the equivalent of the general ledger and should always be in balance.  Transactions are normally imported from the General ledger program to our cash book (file). The bank statement can be imported from any bank’s electronic banking system. The reconciliation is fully automatic and reconciles 50 pages of bank statement in about 2 minutes.The importing of the bank statement and subsequent running of the recon can be done daily, weekly or monthly.

In addition to the automatic reconciliation, The Reconciler has a manual reconciliation, which allows for the reconciling of say 2 transactions on the cash book side against 1 on the bank.  Or where a reference number is different. The program has many features, such as: handling reversals or transferring  unknown bank transactions into the ledger and at the same time allocate a GL account code.

There is a nice facility for those customers with many bank accounts where one bulk file can be imported from the bank and or the GL and the transactions can be posted into the correct cash book.

 The easy to read reports reflect outstanding cheques, etc as well as the reconciliation summary.  There are over 55 reports available.

 THE MONTHLY PROCESS SUMMARISED
1.   Import or capture transactions into the cash book (file)
2.   Import the bank statement into the bank statement (file)
3.   Run the reconciliation and the clearing of transactions
4.   Run cash book and bank statement reports
5.   Do the month end close off and the exporting or posting to the general ledger if required

 The Reconciler reconciles over 5 000 cash books per month in the following industries;
Insurance Companies, Manufacturers, Retail outlets, Government Departments, Pharmaceuticals, Hotels, Construction Companies, Motor industry, Computer Companies, Farming, Mining, Local Authorities

 We have one client with over 550 cash books, reconciling 750 000 transaction per month, another reconcilers over 20 000 transactions per month for just one cash book.

The Reconciler - Unallocated Funds Processing Module
The Reconciler can simplify the processing of unallocated receipts (deposits) and works as follows:

After importing the bank statement and the running of the automatic reconciliation, all unreconciled (unticked) deposits are converted to the Unallocated bank statement Credits screen.

 From this view, the debtors clerk can process each amount, where she is at liberty to type information directly into the details or reference field. The final processing is where each allocated transaction is converted to be allocated and is also inserted into an ASCII file.  This file would be imported at regular intervals into the accounts payable programme.  

 The Reconciler interfaces with companion products Easy Pay and The Requisitioner

 Schematic represantation of reconciliation process

Testimonials

Dirk Beukes (Finance Director Look and Listen)
"Look & Listen has successfully implemented The Reconciler and is being used to reconcile a significant number of cash and bank accounts. The programme has massively reduced the time that was spent on bank reconciliations. The automation of the bank reconciliations has also resulted in improved efficiencies and reporting".

Wendy Combrink (Bearings International)
"Bearings International has used The Reconciler since 2003.  It has reduced the time required to reconcile our bank from 2 weeks down to 2 days and enables us to reconcile five to six different bank accounts to one ledger account. The downloads take seconds to import. The reconciler has reduced month end stress to staff and without it an additional person would be required to reconcile the cashbook".

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