Bank Reconciliation Module: Key Enhancements

We’ve introduced several key updates to enhance the functionality and user experience of the following modules

Core Enhancements in Bank Reconciliation (BRS):

• Multi-Currency Support: Effortlessly manage reconciliations across different currencies, simplifying cross-border transaction handling.

• Auto Reconcile Feature: Leverage automated reconciliation using three flexible matching criteria:

  1. Date, Ref, and Amount
  2. Ref and Amount
  3. Date and Amount
     

• Enhanced UI/UX: Enjoy a revamped interface designed for a more intuitive and streamlined reconciliation process.

• Advanced Validations and Logic:

  • Improved handling of "Mark Cleared" and "Mark Uncleared" actions.
  • Dynamic Start/End dates based on reconciled transactions for improved accuracy.

• Cleared Ledger Balance Updates: Precise tracking of ledger balances when toggling cleared entries to prevent discrepancies.

• Status & Sequence Addition:

  • Status Column: Introduced to indicate whether a transaction is active or deleted, providing clear visibility and auditability for reconciliation entries.
  • Sequence: Serves as a unique document reference number, ensuring a reliable system-generated identifier for reconciliations.

• Delete Reconcile Entry: Simplify corrections by easily deleting reconciliation entries when needed.

• Flexible Reconciliation Options: Handle complex scenarios with support for reconciling one-to-multiple and multiple-to-one transactions, complete with updated subtotal sections.

• Automatic Statement Balance Calculation: The system now auto-calculates the statement balance based on the last line of the uploaded statement.

Bank Import:

• IMPORT/REPLACE Option: Choose to import or replace bank statements while ensuring auto-creation of entries is properly managed.

• Delete Bank Statements: Easily remove imported bank statements with a new delete option.

These updates empower users with greater flexibility, accuracy, and control in managing bank reconciliations and imports.