Bank Reconciliation was my favorite GP module when I started using GP years ago. The reason I liked it so much was that at the time I was a controller and worked with an accounting assistant who used to take a whole day to reconcile the bank accounts. After we implemented GP, the time to reconcile the bank accounts went down to 30 minutes. Why? Because in GP all the modules are integrated and you can work on the reconciliation during the month, so that at the end of the month, the reconciliation is pretty much done, and all you have to do is click on the “Reconcile” button. Easy!
Bank Reconciliation is a standard module in the online accounting software on myGPcloud. These are the features and benefits that make it a useful module:
- Integrated with receivables, financial, and payables
- Specific bank transaction types to record various transactions
- Receipt >> Deposit >> Bank workflow matches typical workflow within your organization
- Easy to use screen to identify cleared items, with drill down to originating documents
- Ability to start a reconciliation and save it, and reopen it later to update, before final reconciliation process
- Prints current and historical reconciliation reports
- Includes a bank transfer transaction
- Includes a miscellaneous check transaction
The Bank Reconciliation module in Dynamics GP makes it easy to reconcile your bank accounts.