Bank Statement Upload

The Automated Bank Statement Upload module takes transaction details directly from your bank account and uploads them electronically into the ERP.

This data can then be used in Cashbook for: automated A/R matching and postings, automated bank reconciliation when matched against cash transactions and Cash Dashboard information for real-time bank balances.

Features

Module allows you to upload bank transaction information on an as-need basis.
Transactions are permanently available at the bank source. Making these transactions available in your ERP system involves creating a file with the transactions and then making file available anywhere on your network for processing by Cashbook.

Direct connections with bank systems can also be facilitated
Over 60 different bank interfaces available
Each statement uploaded creates a journal and can be used for a variety of purposes: automated A/R matching, bank reconciliation, dashboard update.

Benefits

Key benefits of this module include:

No more manual entry of transactions.
Data is available quickly in your system at crunch moments in the reporting calendar
Improved data quality: uploading information directly from the bank reduces the likelihood for data inconsistencies
Quantity of data you can handle increases proportionately: your processing time does not increase incrementally with transaction numbers. It takes roughly the same time to electronically load a statement with 100 transactions as it does to load a statement with 1000 transactions.
Ensures Bank independence as your business evolves. Changing bank simply means changing the bank interface while the business process continues uninterrupted.

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