Bank Reconciliation and Import

Digitize and automate account reconciliation with the Advosys module Automatic account reconciliation and import. The Advosys module automatically retrieves entries from banks and reconciles them with the entries posted in Advosys.

If there are entries in the banks that have not yet been posted in Advosys, you can transfer the entries to a cash journal in Advosys. The entries in the bank can, for example, be credit card charges, interest and fee entries, as well as other entries that are automatically withdrawn from the bank. When accounts have been reconciled, a reconciliation report can be printed that documents the reconciliation.

The module uses the EU directive PSD2 on Open Banking, which requires banks to allow third-party companies to offer services with account information. PSD2 only covers payment accounts, so as a rule, accounts that have been created as payment accounts are handled, but several banks also provide data from other account types, e.g. loan accounts.