What is Nolan’s Advanced Bank Reconciliation (ABR) Module?
Advanced Bank Reconciliation is an easy-to-use tool that provides more freedom and advanced options to users performing a Bank Reconciliation.
How does ABR differ from standard bank reconciliation software?
ABR contains a variety of standout features not present in standard bank reconciliation modules. ABR Extracts transactions directly from the General Ledger into a designated ABR Window. This means there is no need for a separate Posting or Import process to Extract your desired transactions.
This saves time during the reconciliation process and allows for the continued use of the General Ledger’s full functionality. This includes, but is not limited to, Multi-currency and Recurring Transactions.
ABR also allows you to alter your specifications for Manually importing Bank Statements via fully customisable Import Definitions. If you would be interested in Automating your import process to be aligned with a schedule, you can use Statement Direct to achieve this. Details of which can be found here:
https://www.nolanbusinesssolutions.co.uk/solutions/netsuite/suiteapps/statement-direct
Another major benefit of ABR is the fact that it will Automatically Match transactions in line with the details on a Statement. This ensures that there is no possibility of Omitting, Deleting, or Incorrectly Reconciling transactions. This, coupled with Auto Match’s Customisable options for matching transactions, greatly reduces the time taken to match transactions and reconcile a statement while leaving little chance for error.
Finally, we have the Reporting and Auditing benefits of ABR. Each time a Statement is reconciled ABR produces a Full Reconciliation Report and Audit Trail. These are then stored for later use, ensuring no transactions have gone unreported.
