Acumazing!… Bank Statement Processing
- Accounting Software, Acumatica, Acumazing, Cloud, Financial Director, UK
Welcome to our Acumazing series… Amazing Acumatica! We cover all the little things that make Acumatica Cloud ERP UK so great!
Bank Statement Processing
Acumatica will upload bank and credit card statements, that is fairly standard these days. What is amazing functionality is that it will take the bank entries and determine how they are to be processed.
Of course there is no one way that a bank entry is to be processed. It is either reconciled if the entry exists in Acumatica. If it the entry does not exist then Acumatica searches to see if this is a payment or receipt of a supplier or customer invoice. It will suggest the invoice that is being paid and upon confirmation it will post the payment or reconcile it. Alternatively the entry could be for something that has not yet been posted. If these are common charges then you can create rules which Acumatica uses to determine what entry to create, such as bank charges, interest payment, salaries etc. The same thing applies to the processing of corporate credit card statements. Quick, efficient and Acumazing! Want to get further information? learn about Business credit cards here!!
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