BANKING & BANK RECONCILIATION

Providence Banking Module delivers a complete set of tools for efficient financial oversight and streamlined account management.

• Cash receipts management: Record and apply cash receipts to open Accounts Receivable invoices with ease. Write off minor discrepancies instantly and book receipts directly to cash or holding accounts for later slip printing.
• Manual checks and deposits: Quickly create and print manual checks, generate deposit slips for up to 18 checks per slip, and automatically post totals to the General Ledger for reconciliation.
• Integrated EFT support: Replace physical checks with secure, electronic payments. Process vendor and owner transactions through Electronic Funds Transfers to reduce delays and improve efficiency.
• Bank reconciliation: Automate reconciliation across multiple bank accounts to minimize manual effort and improve accuracy. Supports both electronic and manual clearing, ensuring full integration with Accounts Payable, Revenue Distribution, Land Management, Payroll, and the General Ledger.
• Real-Time Checkbook Balances: Maintain up-to-date checkbook balances reflecting deposits, checks, and all finalized transactions. Clear transactions electronically or manually and reconcile them against bank statements for precise control.
• Positive Pay security: Protect your business against fraud with Positive Pay integration. Electronically verify issued checks with your bank to ensure only authorized payments clear.
• Integrated reporting and analysis: Generate detailed reconciliation and transaction reports in seconds. Built-in audit trails provide full transparency, compliance confidence, and simplified month-end reviews.
• Inter-module integration: Seamlessly integrated with Providence’s complete financial suite, ensuring that every transaction flows automatically throughout your accounting ecosystem.
• Unlimited Bank Account Management: Manage an unlimited number of accounts across multiple banks, giving your organization flexibility and control over complex banking structures.
• Electronic Transaction Clearing: Clear transactions electronically for faster, more efficient reconciliations across all accounts.
• MICR Check Printing: Support for MICR check printing ensures accuracy, compliance, and compatibility with bank specifications for reliable check issuance.
• ACH/EFT Transaction Capability: Streamline ACH and EFT transaction processing for quick, secure, and fully traceable payment activity.