GL/Bank Reconciliation

By: Xyntax Systems  15-04-2011
Keywords: Accounting, Accounting Software, Native

Accurate Financial Reporting
Completing a monthly bank reconciliation is a critical control for accurate financial reporting in any company.  For many First Nation accounting departments, the challenge begins each month when it is necessary to consolidate and track the thousands of cheques and deposits in order to accurately report the nation’s financial status.  A challenging task to say the least.  Because reconciling your financial accounts to that of your bank, this can be a manual, labour-intensive process with frequent opportunity for errors to occur, making the auditing of such a system, stressful and time consuming.

Balanced Books, Balanced Accounting
Enter Xyntax’s GL/Bank Reconciliation module.  This module allows the financial manager to reconcile their Accounts Payables, Payroll, Accounts Receivable and General Journal simultaneously, all from a single program.  The built-in workflow and seamless integration virtually guarantees that the account reconciliation process will run smoothly.  In addition the GL/Bank Reconciliation allows for multiple reconciliation periods to be open and active at any point in time, allowing for greater flexibility in office and banking procedures as well as statement frequency.

Keywords: Accounting, Accounting Software, Bank Reconciliation, First Nations, Native, Xyntax, Xyntax Systems,

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