Bank Reconcillations is complicated to set up and use
by: Erik k. | over a year ago | Financial Management
Votes
136
Make Bank Reconcillation easier to use
by: Erik k. | over a year ago | Financial Management
by: Erik k. | over a year ago | Financial Management
Bank Reconcillations is complicated to set up and use
by: Erik k. | over a year ago | Financial Management
Comments
Bank reconciliation seems to be the over looked step child of the business framework. From day one of it's release in v4.05, it seemed to be just the same old look and feel with just a tad bit of white wash to make it pass muster in the new BF. In fact, IMHO, it is harder to use than in the v3.X days.
this is scheduled to be included in v4.4 Product Update 2, scheduled for release in June 2010 with the following enhancements:
Bank reconciliation usability will be improved
Electronically reconcile your BR transactions between your software and bank (incorporating the main features and functionality of Extended Solutions title BR 1005)
Utilize Positive Pay to verify check information (amount, payee, etc.) prior to the company’s financial institution’s payment, which helps protects companies against check fraud (incorporating the main features and functionality of Extended Solutions title BR 1004)
It would be nice to add the ability to CLEAR checks by hitting the ENTER key when the check is highlighted (it used to be this way).
Ability to use multiple bank codes for the same bank account and same GL account. When using multiple bank codes for the same bank account and same GL account you currently cannot purge after running the bank report.
Need check and deposit bank recon history file instead of purging when reconciled. When reconciling, the bank rec module should move the check record to a bank recon check history file instead of purging. The record move of the record to history should record the reconcile date so that when doing vendor inquiry on a check one can see if and when it cleared (at least in which month and year it cleared) the bank.
Based on the user group two hour session that I participated in a couple weeks ago, if you would JUST fix the 8 issues I pointed out with the current product, it would be a vastly enhanced module. Save your resouces to add value in the other modules.
With version 4.3, the "less than" selection criteria on the Bank Reconciliation Register does not prompt to delete any cleared transactions any more.
I would like to be able to click on the column header and sort by dollar amount, and date, and check number etc. that would make it easier to find certain transactions.
Get rid of Bank Code all together, use the GL account for Bank Reconciliation. All transactions posted to the GL account(s) for cash (could be identified with a check mark) should flow to Bank Rec module. No more transaction journal entries; which clients seem to dislike immensely anyway (as do many resellers).
I agree with another user's comment that it would be nice to be able to clear checks by hitting the enter key on the highlighted check. It used to work that way a long time ago and then the cursor would also move down one line. Another alternative would be to continue using the space bar to clear a check but then have the cursor move down a line after clearing a check. Normally checks are cleared in check number order. It's difficult to clear checks quickly with only one hand on the keyboard the way it is now.
This module should have a find option and the ability to purge cleared transactions, and do transfers between bank codes.
Regarding purging cleared transactions, you can!
Run the bank recon report (make sure you are balanced), select a single bank account, select to print all transactions (cleared/uncleared/checks/deposits etc.), select a date RANGE from blank to date you are reconciling. It will prompt you if you wish to purge.
But please make sure that your bank rec agrees to the g/l control account first as well as the bank recap report.
You have made a lot of improvements, but do we still have to be tied to the bank code. Other software typically works off the GL account and you have less risk of inconsistencies between GL and BR.
GL Transactions should be modified so you are not required to use Transaction Journals when entering charges against bank accounts that will flow over to BR.
Our reseller didn't know how to utilize the BR feature and indicated we were required to double entry. Once in GL and once in BR (which is incorrect-transaction journals will flow through to bank rec.)
If we remove transaction journal and allow JE to feed through to BR...it will save much time in understanding the relationship and how to begin using BR
Also, clear all and select all is a nice feature.