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 Matched Entries
Once you have imported the transactions RecXpress will match transactions based on the criteria below:
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
- Cashbook Reference
- Bank Statement Page Number
- Transaction Code
- General Ledger Account
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.
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’.