Funds & Settlements
Import bank activity, record completed receipts and payments, and review reconciliation, open balances and aging separately.
See what this module handles, how to review it and how its results reach the ledgers.
Import bank activity and record completed transactions
Import Excel or CSV bank statements, and record cash activity or transfers between company accounts. Receipts and payments are recorded from completed business activity, with bank lines available for review.
Reconcile bank lines and settle open items separately
Bank reconciliation links a statement line to a posted bank entry. Settlement records how much of a receivable or payable has been cleared. These are separate records: a matched bank line does not mean an open item is settled.
Review open receivables and payables one by one
Review open entries, remaining amounts and aging by account, counterparty and date. Partial receipts or payments and multi-entry settlements can be recorded according to the actual business relationship.
Keep a record when a reconciliation needs correction
When a reconciliation needs correction, cancel the recorded settlement or bank match and enter the actual relationship. The original record remains available. The system records cash activity; it does not initiate bank transfers.
