Banking and cash: from payment to reconciliation

What is inside

1. 01

   A payment from intent to the books

   One payment instruction covers 37 operation types and moves from intent through “sent to bank” and “processed by bank” to the books. Analytics and entries follow the payment’s breakdown lines. Prepared hryvnia payments are exported as a file for online banking, and a batch can be exported again. A payment the bank has processed but the books do not show will stop the month-end close.

   Screen G1Payment list with the statuses “sent to bank” and “processed by bank”

2. 02

   Statements as files

   The system detects the bank, account, legal entity, encoding and format from the file. It recognises the statement formats of major Ukrainian banks and reads other files by field names. It finds the counterparty by IBAN and then by EDRPOU company code, matches a statement line to a payment already created, recognises fees, interest and cash collection, and splits a receipt into payment or advance according to the settlement balance.

   Screen G2Bank statement file preview before it is saved

3. 03

   Cash desk and employee advances

   Seven kinds of cash orders, advances to employees and expense reports with VAT. Money moves between bank and cash desk through a transit account.

4. 04

   Currency: exchange, revaluation, foreign trade control

   Currency purchases and sales take into account the National Bank of Ukraine (NBU) rate and the market rate, the fee and the exchange result. Revaluation at the balance sheet date is calculated separately for operating and non-operating items, and foreign trade currency control shows the settlement deadline and the penalty. The system loads NBU rates every day at 09:00 Kyiv time.

   Screen G3Currency purchase with the exchange result

5. 05

   Reconciliation from the journal

   The statement is filled from the journal, can be created for a group of counterparties at once and carries approval statuses. An agreed statement is locked, and when the journal changes, the statement is marked out of date. It prints in three layouts.

   Screen G4Reconciliation statement for a counterparty

6. 06

   Five kinds of debt adjustment

   Offset, debt transfer, receivables write-off with a reason under the Tax Code, payables write-off and removal from off-balance-sheet accounts. The adjustment amount is checked against the debt balance in the journal.