Every month bank statements arrive, setting into motion a series of bank reconciliation steps. You sort out your checks, list out your deposits, and start the comparison of your account balances to those of the bank. And then it starts all over again next month.

The OMS ERP Bank Reconciliation module automates and simplifies the monthly reconciliation process as much as possible by detecting unrecorded transactions between your books and your banks. The OMS ERP Bank Reconciliation module helps you locate errors and differences, then gives you the tool to record the corrections, and executes the reconcilement of your books to the bank statements, all in one easy-to-use ERP Bank Reconciliation module of OMS.

Doubly important, the OMS ERP Bank Reconciliation module provides you with important information and insight as to what lies behind the numbers enabling you to better manage and direct cash flow. Add to that cash flow activities with registers, reports, and analyses and the OMS ERP Bank Reconciliation helps your business prosper.

The important features of the OMS ERP Bank Reconciliation module supports multiple bank accounts, easy-to-use check writing, supports “virtual” bank accounts for easy reconciliation of factored receivables, supports “virtual” bank accounts for reconciliation of credit card transactions, supports merging the “virtual” bank accounts into the bank reconciliation process, supports automatic and manual posting of checks, adjustments, deposits and more… Easy-to-use the OMS ERP Bank Reconciliation module brings efficiency into the picture helping you to manage your reconciliation activities.

Features:

Multiple Bank Accounts - you may have any combination of 99-actual and/or ‘virtual” bank accounts to support your company. Without any additional effort of needing to transfer to the general ledger, you can get a picture of your cash received and disbursements.

“Virtual” Bank Accounts in OMS ERP Bank Reconciliation - supports isolating certain transactions for reconcilement such as: factored invoices and payments, credit card transactions and payments and, more. “Virtual” bank account reconciliations can then be easily merged into your bank reconciliation with the OMS ERP Bank Reconciliation module.

Reconcile Bank Accounts - Easy-to-use filters of the OMS ERP Bank Reconciliation module displays period activity providing you with information to help you reconcile bank accounts quickly and easily. Transactions can be confirmed as cleared, using a single keystroke.

Cash Flow Analysis - A Cash Flow Analysis Report helps to combine information from the OMS ERP Accounts Receivable module and, the MOS ERP Accounts Payable module and clearly reports cash flow projections.

Check and Deposit Entry - Transactions not posted automatically through the other integrated modules can be entered manually. Checks, deposits, and adjustments for non-integrated bank accounts can also be entered manually.

Bank Activity Detail - Bank transaction detail can be retained indefinitely or cleared each month after each account is reconciled.