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Microsoft Dynamics 365 Finance Implementation: How to Identify if you Need Further Automation
Automatic bank reconciliation in Microsoft Dynamics AX
Are you still spending time doing manual bank reconciliation?
Bank Reconciliation is a dreaded process for most financial operators. This is the work of ensuring that your bank and general ledger balances are in sync. Ensuring that there are no inaccuracies can be a daunting task — whether you work with just one account or with thousands.
This is because the process is much like finding a needle in a haystack. Even a few dollars off here or there in any given transaction must be located and corrected among thousands of transactions, in order to produce a perfect balance match.
In addition, the task is often manual, and therefore slow and costly to complete. For companies that operate with numerous bank accounts and many transactions, the effort and associated cost goes up significantly.
Stop the madness. Enjoy automatic bank reconciliation in Microsoft Dynamics AX
In a modern ERP system such as Microsoft Dynamics AX, you don’t need to do your bank reconciliations manually — if you are able to electronically import your bank statement files from your bank.
When the bank statements are electronically imported, the process becomes almost enjoyable!
You can then check and validate transaction types between your general ledger and bank statement file. Using rules, you can even perform transaction matches to account for small tolerance variables. In addition, you can quickly create ledger transactions automatically, for those annoying bank fees, for instance. And everything takes place within Microsoft Dynamics AX, where the user is able to drill into each transaction and make corrections quickly.
To enjoy full automatic bank reconciliation in Microsoft Dynamics AX, you’ll need a Microsoft certified add-on solution.
What if the entire process, from end to end, was a completely automated process? A process which only needed your attention if and when a few transactions did not match?
You would be saving yourself time, you would save your company money, and eliminate human typo errors. Then this would be an easy place to increase efficiency for any Microsoft Dynamics AX user!
In order to enjoy 100% automatic bank reconciliation in Microsoft Dynamics AX, you will need a solution that goes above and beyond the standard Microsoft Dynamics AX functionality. You will need a solution which is built specifically to handle Automatic Bank Reconciliation in Microsoft Dynamics AX, a solution that is fully embedded within the system — and Microsoft Dynamics AX certified.
With the Automatic Bank Reconciliation solution offered by SK Global Software, you can enjoy the following:
- Easily deployed, installed and configured
- Unlimited and guaranteed banking coverage worldwide
- The direct integration to your bank is provided “out of the box”, ready to plug and play
- Enjoy 100% automatic bank reconciliation in Microsoft Dynamics AX
- Automate across any number of bank accounts, legal entities, and currencies
- Automatic and unattended mapping and matching of all transactions, even automatic creation and posting of missing general ledger entries
- The unattended process runs in the background, only notifying you if any exceptions need your attention
- Run the process at any interval, monthly, weekly, daily
- Access to full history log that you can review at your convenience
- Highest level of security with direct and automatic communication directly between your ERP and your bank
Contact us today to learn how quickly and easily you can enjoy Automatic Bank Reconciliation in Microsoft Dynamics AX
Still not convinced?
Download our whitepaper. We give you 15 Reasons why you should automate your Bank Reconciliation in our whitepaper: