Feature Product: Telepay Bankrecon

Computer Times
Summer 1994
published by Pisenti & Brinker

Telepay Bankrecon [1] by Datatech EDI Systems in San Rafael is a bank reconciliation program with a twist that can greatly simplify one of the most tedious, time-consuming, and dreaded tasks that bookkeepers are faced with every month.

Telepay Bankrecon combines the elegance of an automated bank reconciliation program with the convenience of an electronic link between you computer and your bank's computer. This would save you the trouble of having to wait for the monthly bank statement before you can reconcile your account.

Once the connection between you and your bank is established, you can download information every day such as checks cleared, deposits posted, charges applied, etc. For companies that keep a very tight rein on their cash flow, this program can be their best cash management tool. Telepay Bankrecon captures transactionsas they are posted in Accounts Payable, Accounts Receivable, and Payroll and waits for information to come in from the bank. When that information arrives, transactions are matched up and reports are generated so you know exactly what has cleared, what is outstanding, and what your balance is. Telepay Bankrecon's features include lists of outstanding checks, deposits, and reconciling items, instant cash status snapshot, and automatic placement of reconciling items into a General Ledger journal voucher which can be retrieved into G/L and posted.

Footnotes

1: The new name of the product is Tele-Bankrec.

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