Introduction to Bank Reconciliation Process
These set of articles provide a brief introduction to Bank Reconciliation Process. This topic not only discusses the meaning of bank reconciliation process but also discusses how this process in handled in new age ERPs and Automated Reconciliation Systems.
Bank reconciliation process is targeted to validate the bank balance in the general ledger and one of the most critical controllership processes. Learn the what, why and how of bank reconciliation process. Also get insights into how this is managed in modern ERPs and automated reconciliation systems. Proper completion of the Account Reconciliation Process is fundamental to ensuring the balance sheet is properly stated. Personnel with responsibility for Account Reconciliations hold key Controllership responsibilities.
A quick introduction to Bank Reconciliation Process. A must for folks working on General Ledger, Cash Management, Treasury and other functions involving bank reconciliation. Very good learning tool for IT professionals working on ERPs or automated recon systems to gain functional expertise on bank reconciliation process.
The learning objectives of this capsule are:
Learn the meaning of Account Reconciliation and its importance in controllership process
Meaning of Bank Reconciliation Process and its Importance
Understand the Cash Clearing Concepts and complete Process
Learn the steps in Automated Bank Reconciliation along with steps in Manual Bank Reconciliation
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Introduction to Bank Reconciliation Process
These set of articles provide a brief introduction to Bank Reconciliation Process. This topic not only discusses the meaning of bank reconciliation process but also discusses how this process in handled in new age ERPs and Automated Reconciliation Systems.
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In manual clearing, Bank statement details are to be matched manually considering certain rules. Learn the steps involved in manual clearing of bank transactions.
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What is Invoice to Cash Process
In this article, we will explore the business process area known as; Invoice to Cash; Also known as I2C. Learning objectives for this lesson are: Meaning of Invoice to Cash Process; Sub Processes under Invoice to Cash; Process Flow for Invoice to Cash; Key Transactions Fields; Key Setups/Master Data Requirements.
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Introduction to Cash Clearing Process
Unravel the mystery behind clearing accounts. Learn why clearing accounts are used in finance and accounting. Learn why so many clearing accounts are defined in ERPs and Automated Accounting Systems.
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The Cash Management component ensures that the enterprise has sufficient liquidity for payments that are due and to monitor payment flows. Learn how treasury plays an important role in cash management for the enterprise.
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Many different accounts are used in finance. Understand the representation and nature of clearing account in context of accounting, finance and ERP Systems.
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Unravel the mystery behind clearing. Why we use clearing accounts. Find the relevance of word "Clearing" in business context.
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Account Reconciliation – How? Learn the three key attributes to perfom account reconciliation.
