Openbravo ERP

Bank Statement Reconciliation in Openbravo: flexible and easy to use

Many common business functions or activities need to be performed differently because of the different standards of third parties. Openbravo is aware of this need, which is particularly evident when it comes to “Bank Statement Reconciliation”.

Banks send information in different formats so the lines on bank statements can contain more or less descriptive information, with more or less lines on the statement to match, etc.

When new bank statement lines are created or imported in an the Openbravo “Bank” or “Financial Account”, we need to be sure that those statement lines can be reconciled or matched properly and in a flexible way.

In some cases, this reconciliation may have to be done manually by creating bank entries if no matching algorithm is being used. With the use of an “Advanced” matching algorithm, reconciliation is an automatic process that proposes “bank statement lines” matching with “accounting/banking transactions” , or even with existing payments, invoices or orders if the appropriate accounting transactions have not yet been created.
Bank Settlement Statement Release

In summary, the “Matching Algorithm” used together with a new “select/unselect check box”, which allows the user to “Unmatch” all or some of the already matched transactions if needed, has enhanced the way the bank statement reconciliation process is managed at Openbravo.

Bank Settlement Statement Release

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