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DocuWrx

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DocuWrx is a premiere FileMaker developer. Our flagship solution, Kosmas, is an end-to-end vertical market solution for the construction industry. DocuWrx also creates first class custom business solutions for many different industries including hospitality, retail, property management, healthcare, manufacturing, and many more. If you are looking for a custom solution for for your business or are interested in Kosmas, inquire below.

Custom Kosmas

Plaid Bank and Credit Reconciliation in Kosmas

BankReconciliation

Kosmas Utilizes Plaid Integration for Successful Results

One of the primary difficulties in running a business of any size is keeping track of cash and credit. Even a small business will process hundreds of transactions every month, and for larger operations that number can quickly scale into the thousands. At the core of this process, is reconciling transactions with records.

Reconciling those transactions against internal records can be a daunting task. However, by performing bank and credit reconciliations a company can help to minimize the risk of data input error, discover missing data points, and any errors made by their bank.

Kosmas allows users to track purchases, sales, cash, and credit receipts, and a host of additional transactional data through several different modules. However, as in any application, the usefulness of analytical functions is determined by the accuracy of the data given.

In order to ensure that accuracy, Kosmas makes use of a built-in bank and credit reconciliation tool. Kosmas is able  to access transactional data directly from a company’s banking institution through Plaid integration, a service which allows users to instantly authenticate with their banking institution. By keeping the entire process within Kosmas, the process is quicker and is achieved easier.

 

Quick and Easy

To use the bank and credit reconciliation tools in Kosmas, a user first selects the bank or credit accounts to reconcile against. Then the user enters a date range to download transactions. Once the transaction data downloads through Plaid, Kosmas searches through its stored purchase, sale, and receipt records.

Kosmas does more than just download transactions. Going one step further, the solution automatically suggests to reconcile any transactions that it matches with internal records. The user can then search through both sets of data to manually reconcile any remaining transactions. Any missing transactions can then be quickly created from the banking data.

One of the key features of Kosmas is its ability to present its users with all of the information to let a business owner make financially sound decisions. The bank/credit reconciliation tool is one of the most important factors in providing that information.

The impact of having an accurate picture of current cash and current credit expenditures can be tremendous, particularly for small businesses. This kind of information is a critical component in making decisions that can be the difference between making or missing payroll.

One of the primary difficulties in running a business of any size is keeping track of cash and credit. Even a small business will process hundreds of transactions every month, and for larger operations that number can quickly scale into the thousands. At the core of this process, is reconciling transactions with records.

Reconciling those transactions against internal records can be a daunting task. However, by performing bank and credit reconciliations a company can help to minimize the risk of data input error, discover missing data points, and any errors made by their bank.

Kosmas allows users to track purchases, sales, cash, and credit receipts, and a host of additional transactional data through several different modules. However, as in any application, the usefulness of analytical functions is determined by the accuracy of the data given.

In order to ensure that accuracy, Kosmas makes use of a built-in bank and credit reconciliation tool. Kosmas is able  to access transactional data directly from a company’s banking institution through Plaid integration, a service which allows users to instantly authenticate with their banking institution. By keeping the entire process within Kosmas, the process is quicker and is achieved easier.

To use the bank and credit reconciliation tools in Kosmas, a user first selects the bank or credit accounts to reconcile against. Then the user enters a date range to download transactions. Once the transaction data downloads through Plaid, Kosmas searches through its stored purchase, sale, and receipt records.

 

Beyond Just a Transaction Download Tool

Kosmas does more than just download transactions. Going one step further, the solution automatically suggests to reconcile any transactions that it matches with internal records. The user can then search through both sets of data to manually reconcile any remaining transactions. Any missing transactions can then be quickly created from the banking data.

One of the key features of Kosmas is its ability to present its users with all of the information to let a business owner make financially sound decisions. The bank/credit reconciliation tool is one of the most important factors in providing that information.

The impact of having an accurate picture of current cash and current credit expenditures can be tremendous, particularly for small businesses. This kind of information is a critical component in making decisions that can be the difference between making or missing payroll.

TransactionsCharting
If you would like a better and more organized way to handle your transactions, give DocuWrx a call today!