RecXpress

The fastest way to reconcile your bank account

Get up to a 99% match when importing your bank statement using RecXpress. Now further enhanced to “remember” monthly entries, RecXpress will generate a variety of repetitive entries for you. Customize these entries each month until such time almost all entries are automatically generated by RecXpress.

What has always taken the longest period of time to perform?

The Cashbook reconciliation, although extremely versatile, it can still take many hours to balance. By enhancing the import reconciliation function already in Cashbook, an automatic match of up to 99% can be obtained using RecXpress.

This process has been further improved by giving you the ability to ‘remember’ monthly entries and generating a variety of repetitive entries you need not re-enter each month. Customize your default template each month you do your reconciliation until such time almost all entries are automatically generated by RecXpress.

Display Only Transaction Codes for a Specific Default Category
Display only the transactions you want to see by selecting the category of transaction codes to display, e.g. cheques, deposits, charges, etc.
Post Batches Directly from RecXpress
Post all batches generated by RecXpress to complete the matching process.
Post Reconciliation
Post the RecXpress reconciliation to reconcile all the posted and matched entries completes the process to match the balances correctly in Cashbook with your bank statement
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Display Matched Entries

Once you have imported the transactions RecXpress will match transactions based on the criteria below:

Default Templates

The imported bank statement data in the RecXpress reconciliation can be displayed in the following sort sequences and in Ascending or Descending Order:

  • Bank Statement Reference
  • Date
  • Amount
  • Cashbook Reference
  • Bank Statement Page Number
  • Transaction Code
  • General Ledger Account
  • Category

Default Templates

Bank Formats

You can import your own format into RecXpress or you can choose from over 100 predefined formats already available.

Transaction Codes

Templates can be created from predefined transaction codes.

Default Template

Templates can be created for entries that are repeated each month in your bank statement. You are able to match entries in your bank statement and create default information for these entries:
  • Entry Description
  • Source Code
  • Account Code
  • Tax Group
  • Sales or Purchases
  • Distribution Sets for Multiple Allocations
  • Comments

A/R and A/P Entries

You can also match entries to your customer and vendor accounts. By matching the bank description the entry can allocate the bank amount to:
  • Prepay
  • Oldest Balance
  • Invoice Number
  • Amount
RecXpress will create batches with these defaults that will be posted all the way through to Accounts Receivable and Accounts Payable.

Multiple Entries

Create multiple entries by using Cashbook's Distribution Sets. Entries like Salary information, RAs, Staff Medical Aids, etc. can be split into multiple details from on Bank entry.
If the bank amount does not balance exactly to the distribution set the difference will be added to an adjustment account defined by the user

Category Maintenance

You can create unlimited categories. Each category can contain similar transaction types, e.g BANKCHARGES, FOREX, etc.
Renumbering sequences can be set up by category or by each entry within the category.
While you set up your categories you can copy and move the entries between the different categories easily using Category Maintenance.

Automatic Numbering

When importing Bank Statements, certain transaction types (Bank Charges, Deposits) often have the same reference numbers. RecXpress will generate a sequence of unique reference numbers for different transaction types, saving you the time of editing duplicate reference numbers manually.

Generate Batches

RecXpress does not only take care of matched transactions, but also unmatched transactions through a Batch Generation Feature. Your unmatched entries can be sorted by the default transaction code category, e.g. bank charges, interest, forex, etc. and separate batches can then be generated. If the entry default information is not automatically assigned to the entry by the Default Code you can enter the fields required for batch generation.

RecXpress can also generate a batch from the variance amounts when selecting to display ‘Matched with Error’.