All (almost) GL Accounting packages and electronic/Internet banking software allows you to download the account activity to a computer file.
VEFT Bank Reconciliation module automatically correlates data from these two systems, and matches them based on user selected options. These details can be repeatedly inserted using VEFT facilities once configured.
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After insert, when instructed, the system will match the cheques by number and amount (1,000's of transactions in seconds) and allow you to manually match all other matchable items.
For deposits, it automatically matches deposits by equal dollar value, if instructed. For those companies whose accounts receivable package transfers each receipt value to GL, there are advanced routines in VEFT that will assist with these transactions.
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- Matches thousands of transactions in minutes.
- Works with all banks and accounting systems. (Easy configuration.)
- Print all reconciliation reports.
- Unlimited number of bank accounts.
- Handles complex transactions, transfers, stale dated, journal entries etc.
- Export data to Microsoft Word, Excel, and text (optional).
- Categorize outstandings into your risk categories e.g. Fraud Items
- Research by non-reconciliation staff. E.g. Bank Queries and cheque replacements.
- Handles any other type of reconciliation. E.g. sub-ledger to GL, Foreign Currency
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VEFT is compatible with any file format that is extracted from any accounting package and online banking system. If there are any peculiar features the file, VEFT can be configured to accept it.
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| VEFT is available for download after completing the registration and order form. The information to obtain a copy will be sent to the email specified. |
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