Customers are struggling with high reconciliation volumes. How does Nolan’s product help with volume?
Advanced Bank Reconciliation can handle thousands of transactions a day. The bank reconciliation tool has advanced auto-matching features that will match up to 98% of your transactions. There is also an auto-consolidate feature that will group transactions on the general ledger. This allows for a quick match with the statement side transaction. This is great for high volumes of deposits or credit cards on the bank side
The Bank reconciliation process is taking too long, can the product shorten this timeframe?
We create rules based on your general ledger and bank statement information so the matching is tailored for your environment. Out of the box, we match by amount but then typically you will add check numbers, deposit ranges, and references to get a tighter fit.
We don’t always have an exact match between the general ledger and bank, can Nolan’s product solve this for us?
We have tolerances set-up by reconcile rule. Therefor if the match dollar amount is off, but the transaction matches on all other criteria, we open a special window for potential matches. This is great in a situation where fees are removed and the amount posted to the bank statement is the net amount and not the gross amount.
Explore more about Advanced Bank Reconciliation for Dynamics GP in this in-depth video.