These set of articles provide a brief introduction to Bank Reconciliation Process. This topic not only discusses the meaning of bank reconciliation process but also discusses how this process in handled in new age ERPs and Automated Reconciliation Systems.
Bank reconciliation process is targeted to validate the bank balance in the general ledger and one of the most critical controllership processes. Learn the what, why and how of bank reconciliation process. Also get insights into how this is managed in modern ERPs and automated reconciliation systems. Proper completion of the Account Reconciliation Process is fundamental to ensuring the balance sheet is properly stated. Personnel with responsibility for Account Reconciliations hold key Controllership responsibilities.
A quick introduction to Bank Reconciliation Process. A must for folks working on General Ledger, Cash Management, Treasury and other functions involving bank reconciliation. Very good learning tool for IT professionals working on ERPs or automated recon systems to gain functional expertise on bank reconciliation process.
The learning objectives of this capsule are:
Learn the meaning of Account Reconciliation and its importance in controllership process
Meaning of Bank Reconciliation Process and its Importance
Understand the Cash Clearing Concepts and complete Process
Learn the steps in Automated Bank Reconciliation along with steps in Manual Bank Reconciliation
Cash Management - Integrations
Cash Management integrates cash transactions from various sources like Receivables, Payables, Treasury and creates reconciliation accounting entries after matching transactions with Bank Statements.
Suspense and clearing accounts resemble each other in many respects but there exists important fundamental difference between the two. Read more to explore these differences.
Treasury Management - Functions
Treasury management has become an specialized function. Treasury function helps in managing the Risk-return profile as well as the tax-efficiency of investment instruments. In larger firms, it may also include trading in bonds, currencies and financial derivatives. Learn about the various tasks, activities and imperatives, undertaken by treasuries in in today's context.
Why enterprises need cash management. What is the purpose of having a well defined cash management process?
What is Invoice to Cash Process
In this article, we will explore the business process area known as; Invoice to Cash; Also known as I2C. Learning objectives for this lesson are: Meaning of Invoice to Cash Process; Sub Processes under Invoice to Cash; Process Flow for Invoice to Cash; Key Transactions Fields; Key Setups/Master Data Requirements.
Have you ever wondered what is actually a Bank Statement and why it is needed. What is the information that is available in a bank statement?
In manual clearing, Bank statement details are to be matched manually considering certain rules. Learn the steps involved in manual clearing of bank transactions.
What is Account Reconciliation?
Before you understand the Bank Reconciliation Process it is important to understand what is account reconciliation and why it is carried out.
In automated clearing, Bank statement details are automatically matched and reconciled with system transactions. Learn how this process works and what are the perquisites to enable the same.
Effectively using cash management with trade finance products brings tangible benefits to both corporates and financial institutions.Learn the various benefits of cash management process.
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