Automatic bank reconciliation

Import your Bank Statement and let E-conomic manage your reconciliations

In E-conomic is a smart fully integrated feature for automatic reconciliation of bank accounts and other accounts where you have the opportunity to obtain electronic data reconciliation.

Save up to 95 percent of the time for reconciliation work
You start by importing the bank statement you receive from your online bank for one or more months in the form of an excel csv file.

Select the first month you want to reconcile, select the auto-reconcile option. Select your criteria for matching. The number of days between the system date and the date it may clear the bank. Also, if you want to reconcile one bank entry with more than one system entry and visa versa.

If the imported bank statement entries include interest or charges that have not been booked in the system these can be processed within your bank reconciliation screen using the Transfer menu option. Any unmatched items on the system side that have yet to appear on your bank statement can carried forward to the next period.

Adjustments of the entries before you book them into the general ledger

A really handy feature is that you can reconcile before you book the supporting documents to the general ledger. The documents only have to be registered in the daybook. In this way, corrections and changes are easier to implement.

More information

To learn more, see more detailed information on bank reconciliation in our help facility E-copedia.

Benefits	Features
Save time using the automatic reconciliation functionality	Interest and bank charges can be entered within the bank reconciliaton screen
Manual reconciliation option	Unreconciled items can be transferred to the following accounting period
Superb overview	Ability to match multiple entries to one bank entry and visa versa
Run a reconciliation report