4 Primary Modules
5. Account Reconcilement
The primary purpose of the Treasury Account Reconcilement is to match estimated summary transactions in the corporate cash position to the corresponding transactions as reported to the bank.
Actual bank transactions are matched to estimated corporate transactions based on user-defined rules. Many-to-one and one-to-many algorithms and variance tolerances are also included to minimize the amount of manual work required.
The system automatically matches transactions reported by banks to the transaction generated internally. The GTreasury Balance Reporting and Import modules collect data from external sources, in addition to manual data entry. Matched items are marked as reconciled and recorded. Journal entries, using the client’s own formats, are produced automatically. Unmatched items are kept open until reconciled. Reports are produced for each category.
The operator can select various criteria for matching. Any field contained in the records can be used as matching criteria.
GTreasury applies a set of user-defined “rules” and “tolerances” to resolve the unmatched items. “Priorities” determine in which order the rules and tolerances are applied to each transaction type. The operator can sort and search items and produce summary and detailed reports as needed. Items that remained unmatched are included in the outstanding item reports. Customized reports highlighting certain records or categories can be produced at will.
