End of Month Process Management

How to use CM's bank account reconciliation tools to prevent and troubleshoot discrepancies. Covers export and reporting.

Whether your team needs a refresher or is brand new to the process, our vPro expert will guide your team through the basics of End of Month bank account reconciliation. This service includes an overview of how transactions completed in Collection-Master affect items appearing in your end-of-month reconciliation and guidance on how to export the contents of your end of month screen into a separate report capable of locating the source file numbers of a line item. Our vPro will discuss best practices to troubleshoot accounts that do not reconcile and provide an overview of the reasons that cause an end-of-day screen to report a bank account reconciled when the end of month does not. Our vPro expert will provide information and demonstrate a method to review end-of-month items daily to best capture issues. The earlier that issues are caught, the easier they are to correct and prevent.

Even if your bookkeeping staff relies on outside tools to reconcile the account, Collection-Master’s bank account reconciliation tools enable your firm to have an additional safeguard against financial discrepancies. This service will provide your team with the knowledge and process to track the items processed in Collection-Master to compare and match to the items that appear in your bank statements. The information in your system that gets sent to your client can only be as accurate as the information that goes into it. Make sure that your bookkeeping team is equipped with the knowledge to manage monthly bank account reconciliation.