Automate Your Bank Reconciliations
Many people are reconciling deposits and payments manually in their accounting system, this is especially true in the old days where the tools where not even available. Nowadays these tools are available but many of us do not realize the functionality is available to us and we keep to the good old ways, manually punching in endless rows of data for hours or even days on end, wondering why there is not a seamless bank integration tool available to us.
Not only is this a waste of time by manually capturing data we are prone to typo’s and errors. These errors are usually only picked up afterwards, and then the changes are required to fix the mistake, this inherently wastes even more time.
We are moving to a cashless environment so this creates more electronic transactions and more manual recons. More time spend on cumbersome data entry, where you could be concentrating on more important business area‘s ” Increasing PROFIT ” and growing your customer base.
Bank Manager Module
Sage Accounting platforms offer what is called Bank Manager Module, an add-on to platforms like Sage 200 Evolution. This module has helped many retailers and business owners reduce time on admin, improve efficiencies and reduce errors, whilst spending time on data analytics, of their operations reducing expenses and increasing profit.
Aside from the accuracy, time-saving capabilities, and immediate value that this solution provides, direct bank imports are also secure, convenient, and efficient.
Unisource with InstantRetail has helped many retail and business operators with acquiring and setting up the bank manager module. With the seamless bank integration module you can now reduce back office admin time and increase your time spent engaging with customers.
Want to know more on the Seamless Bank Integration module?
This module allows for the cash book to be electronically populated when a bank statement is imported where large volumes of transactions are processed. Once verified, the information can be updated to a cash book batch and then to the general ledger. The bank statements are acquired by using a download facility that’s provided by each of the four major banks in South Africa (ABSA, First National Bank, Standard Bank, Nedbank). Supported formats include OFC, CSV and ASCII.
Sage 200 Evolution
The advantages of using this module include the instant processing and coding of accounts once the initial process of assigning recurring coding has taken place ; and the process of reconciliation and account coding is virtually guaranteed. Another benefit exists for transactions where the codes have been assigned as per the relevant accounts. Codes need not be assigned a second time – only new transactions have to be coded in the months to follow.
Sage 200 Evolution
Contact us now!
