The Electronic Reconciliation module is used to reconcile Cheques by using bank provided electronic files. The bank files should be saved in a predetermined location (folder) so they can be easily retrievable when needed. The electronic reconciliation process has two steps: Preliminary reconciliation and Final reconciliation.
When the preliminary reconciliation process is run, the program reads the file containing the bank information and checks to see if the cheques can be found in the cheque file. A report will be produced. The report should be reviewed to make sure that each record in the bank’s file is matched.
When the final reconciliation process is run, the program reads the file containing the bank information and updates the cheque file. A report will be produced.
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•How to Perform Electronic Cheque Reconciliation
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