Manage cash effectively with complete visibility of bank and cash records
Excellent financial control requires the ability to see cash book bank balances quickly. In De Facto® each bank, cash, credit card and gift voucher account are linked to a separate nominal ledger account and can be viewed in local or foreign currency and clearly reported in summary or detail.
Reconcile banks promptly to reduce risk including automatic reconciliation from uploaded statements
Banks should also be reconciled promptly to ensure payments going out are valid and all receipts have been posted. De Facto provides easy to use reconciliation facilities for all bank and cash accounts. This includes the ability to upload bank statements for automatic reconciliation.
Maintain references and swiftly search for transactions to answer queries
Comprehensive reference fields in use throughout the system assist the Banking Controller to identify reasons for transactions. Additionally there is a detailed searching facility. Un-reconciled entries can be added to a notepad option. Bank reconciliation reports (including foreign currency) are easy to print so a clear record can be retained.
Control both foreign and local currency values with ease
For financial control, bank currency information should also be accurate. De Facto forces the user to post foreign currency amounts for foreign currency bank accounts. The relating sterling values can be created automatically using system rates or over-ridden by the user. Foreign currency accounts can also be quickly re-valued using journals.
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