A centralized process that auto-matches Quantum transactions against the bank statements loaded into Quantum via Treasury Management System (TMS) payment hub.
The Bank Reconciliation process enables the verification of entries on the bank statement by reconciling that information with external transactions and also system generated transactions in Payables, Receivables, Payroll and General Ledger. During the bank reconciliation process external transactions can be created for bank originated entries such as bank charges and interest.
The Cash to General Ledger Reconciliation Report compares the GL cash account balance against the bank account balance. It displays the unreconciled GL cash account journal entries and unreconciled bank statement lines that help identify the discrepancies between the balances. This is done based on the specified range of periods.