Auto Bank Reconciliation option enables you to upload an electronic version of a bank statement (provided by the bank) and ‘automatically’ reconcile it to your system bank using ‘matching’ rules applied by the system.
Where the system cannot ‘match’ transactions, it will suggest several possible matches or allow you to create and post a matching transaction.
This is a great way of reducing the manual effort in reconciling your system bank accounts with your bank statements and improving accuracy.
You can quickly identify unreconciled items and complete reconciliations when you need to – daily, weekly or monthly.
- Balancing the Nostro a/c on day to day basis by taking MT103/202 connecting with MT940/950 & Mirror GL a/c
- Raising the Queries with Correspondent Banks and retrieving answers through Swift to close the Exception transaction
- Ability to set alerts by Nostro account to warn when agreed minimum balance is close to breach
- Ability to provide for Nostro balance projections on a real time basis that reflects the recent trades, cancellations, and amendments
- Multi-currency cash position and exposure management for various Nostro a/c
- Filtering unmatched transactions and identifying exception cases
- Exception Management with proposed match
- Maximize the interest revenue from external accounts
- Control financial exposure to critical accounts
- Eliminating the duplicate transaction/Batches in the Swift Messages
- Validating the Opening Balance and closing Balances Batch wise and Nostro A/c wise