TGI Friday’s Adopt Cashbook’s Bank Reconciliation Solution

TGI Friday’s, the global restaurant chain, has recently signed with Cashbook. TGI Friday’s (UK) intends to integrate Cashbook’s v5.1 Bank Reconciliation Module with Sage enabling the automated import and reconciliation of their bank statements with their GL data. TGI Friday’s operate off a sequel server database with Cashbook’s solution to be rolled out to cover all 46 of TGI Friday’s UK outlets.

Having made the decision to move away from a manual bank reconciliation process, TGI Friday’s new automated Cashbook solution will import the general ledger file(s) from Sage via an overnight scheduled job which enables a seamless auto-reconcile operation to be undertaken. The upload of the bank statement will include auto-posting to specific general ledger codes that are identified in the bank statement upload. This will ensure we can auto-match GL data with Bank data (and if necessary post differences) without manual intervention. This automated and streamlined process will result in marked time savings and greater process efficiencies being achieved by TGI Friday’s.

Jason Smith, Head of Finance at TGI Friday’s UK, commented ahead of roll-out “After a thorough review process we found Cashbook to offer the best value in the marketplace and we’re looking forward to the benefits of a more automated and efficient bank reconciliation process – Not to mention getting away from excel spreadsheets!”

Greg Coulter, Chief Executive of Cashbook, commented “We’re very excited about implementing our bank reconciliation solution in a retail environment. Everything will be done to ensure TGI Friday’s UK get a great bank reconciliation solution. It is an exciting project to be involved in.”