RecXpress for Bank Services

Transaction Codes

Use Transaction Codes to recognize repetitive entries and create rules.

Create Rules

Templates that contain rules can be created for entries that are repeated each month in your bank statement. You are able to match entries in your bank statement and create default information for these entries:

• Entry Description
• Distribution Code
• Account Code
• Tax Group
• Sales or Purchases
• Distribution Sets for Multiple Allocations
• Comments

AR and AP Batches

You can also match entries to your customer and vendor accounts. By matching the bank description the entry can allocate the bank amount to:

• Prepay
• Oldest Balance
• Invoice Number
• Amount

RecXpress will create batches with these defaults that will be posted all the way through to Accounts Receivable and Accounts Payable.

Multiple Entries

Create multiple entries by using Bank Service's Distribution Sets. Entries like rent information, staff salaries, etc. can be split into multiple details from one bank statement entry.

Category Maintenance

Customize and easily maintain your categories by copying and moving the entries across categories.

Calculates Bank Balance

RecXpress will keep your bank statement correct by automatically calculating the statement balance when importing.

Display Options

Once you have imported the transactions RecXpress will have matched transactions based on the the following criteria:

• Matched
• Matched With Error
• Matched Amount
• More Than One Amount
• No Match
• Many Bank to One Statement
• Many Statement to One Bank

RecXpress Matching

You can easily match entries manually to your Bank Services entries.

Many Bank to One Statement

Match many Bank Services entries to one bank statement entry.

Many Statement to One Bank

Match many bank statement entries to one Bank Services entry.

RX Category Maintenance

You can edit, move and change your default categories while doing your RecXpress Bank Reconciliation.

Generate Entries in AP, AR and BK

RecXpress does not only take care of matched transactions, but also unmatched transactions through a Batch Generation feature. Your unmatched entries can be sorted by the category, e.g. bank charges, interest, forex, etc. and separate batches can then be generated.

RecXpress can also generate a batch from the variance amounts that were 'Matched with Error' or let Bank Services do the writeoff.

Post RecXpress Batches

Post RecXpress batches and adjustment batch for unmatched entries. This will make the entries correctly matched.

Autopost RecXpress Batches

Batches generated by RecXpress can be automatically posted in AR, AP and Bank Services providing minimal user intervention.

Post RecXpress

Post the RecXpress reconciliation to reconcile all the posted and matched entries in Bank Services to complete the process to match the balances correctly in Bank Services with your bank statement.

Completed Reconciliation

Once all the entries are generated, posted and matched the balances are correctly matched and the reconciliation is not out of balance.