Sage 300 Bank Services Add-ons

RecXpress Default Templates takes your bank reconciliation to another level.
Get predefined formats for most major banks in your country. Check out the latest  list of bank imports available. This list is increasing all the time as more and more banks take advantage of this new feature and make their interface formats available to Peresoft.

What you need to do to get your bank statement included on the list of formats available for RecXpress.

Default Templates:

Bank Formats
You can import your own format into RecXpress or you can choose from over 100 predefined formats already available.

Transaction Codes
Templates can be created from predefined transaction codes.

Default Template
Templates can be created for entries that are repeated each month in your bank statement. You are able to match entries in your bank statement and create default information for these entries:

• Entry Description
• Source Code
• Account Code
• Tax Group
• Sales or Purchases
• Distribution Sets for Multiple Allocations
• Comments

A/R and A/P Entries
You can also match entries to your customer and vendor accounts. By matching the bank description the entry can allocate the bank amount to:

Prepay

• Oldest Balance
• Invoice Number
• Amount

RecXpress will create batches with these defaults that will be posted all the way through to Accounts Receivable and Accounts Payable.

Multiple Entries
Create multiple entries by using Cashbook’s Distribution Sets. Entries like Salary information, RAs, Staff Medical Aids, etc. can be split into multiple details from on Bank entry.

If the bank amount does not balance exactly to the distribution set the difference will be added to an adjustment account defined by the user

Category Maintenance
You can create unlimited categories. Each category can contain similar transaction types, e.g BANKCHARGES, FOREX, etc.

Renumbering sequences can be set up by category or by each entry within the category.

While you set up your categories you can copy and move the entries between the different categories easily using Category Maintenance.

RecXpress
Display Matched Entries
Once you have imported the transactions RecXpress will match transactions based on the criteria below:

All – all entries imported.
Correctly Matched – entries where the reference number and amount of the imported bank statement entry was matched to a Cashbook entry.
Matched with Error – entries where the reference number was matched to a Cashbook reference number but the amount is different.
Matched Amount – the reference number was not matched but the amount of the two entries are the same.
More than One Amount – matched multiple entries with the same amount.
Previously Reconciled – the entry was previously reconciled.
No Match – neither the reference number or the amount are matched.
Many CB To One Bank Entry – more than one Cashbook entry is matched to one bank statement entry.
Many Bank To One CB Entry – more than one imported bank statement entry is matched to one Cashbook entry.

Different Sort Sequences
The imported bank statement data in the RecXpress reconciliation can be displayed in the following sort sequences and in Ascending or Descending Order:

Bank Statement Reference
Date
Amount
Cashbook Reference
Bank Statement Page Number
Transaction Code
General Ledger Account
Category

Display Only Transaction Codes for a Specific Default Category
Display only the transactions you want to see by selecting the category of transaction codes to display, e.g. cheques, deposits, charges, etc.

Automatic Numbering
When importing Bank Statements, certain transaction types (Bank Charges, Deposits) often have the same reference numbers. RecXpress will generate a sequence of unique reference numbers for different transaction types, saving you the time of editing duplicate reference numbers manually.

Generate Batches
RecXpress does not only take care of matched transactions, but also unmatched transactions through a Batch Generation Feature. Your unmatched entries can be sorted by the default transaction code category, e.g. bank charges, interest, forex, etc. and separate batches can then be generated. If the entry default information is not automatically assigned to the entry by the Default Code you can enter the fields required for batch generation.

RecXpress can also generate a batch from the variance amounts when selecting to display ‘Matched with Error’.

Post Batches Directly from RecXpress
Post all batches generated by RecXpress to complete the matching process.

Post Reconciliation
Post the RecXpress reconciliation to reconcile all the posted and matched entries completes the process to match the balances correctly in Cashbook with your bank statement.

Display only transactions for a specific default category: Display only the transactions you want to see by selecting the category of the transaction codes to display e.g. cheques, deposit, charges etc.

Post Batches directly from RecXpress: Post all batches generated by RecXpress to complete the matching process.

Display masked entries: Once you have imported the transactions RecXpress will match transactions based on the criteria below:

• All – all entries imported
• Correctly Matched – entries where the reference number and amount of the imported bank statement entry was matched to a Cashbook entry
• Matched with Error – entries where the reference number was matched to a Cashbook reference number but the amount is different
• Matched Amount – the reference number was not matched but the amount of the two entries are the same
• More than One Amount – matched multiple entries with the same amount
• Previously Reconciled – the entry was previously reconciled
• No Match – neither the reference number or the amount are matched
• Many CB To One Bank Entry – more than one Cashbook entry is matched to one bank statement entry
• Many Bank To One CB Entry – more than one imported bank statement entry is matched to one Cashbook entry

Default Templates: The imported bank statement data in the RecXpress reconciliation can be displayed in the following sort sequences and in Ascending or Descending Order:

• Bank Statement Reference
• Date
• Amount
• Cashbook Reference
• Bank Statement Page Number
• Transaction Code
• General Ledger Account
• Category

Templates from Transaction Codes: Templates can be created from predefined transaction codes.

Automatic Numbering: When importing Bank Statements, certain transaction types (Bank Charges, Deposits) often have the same reference numbers. RecXpress will generate a sequence of unique reference numbers for different transaction types, saving you the time of editing duplicate reference numbers manually.

Generate Batches: RecXpress does not only take care of matched transactions, but also unmatched transactions through a Batch Generation Feature. Your unmatched entries can be sorted by the default transaction code category, e.g. bank charges, interest, forex, etc. and separate batches can then be generated. If the entry default information is not automatically assigned to the entry by the Default Code you can enter the fields required for batch generation.

Matched with Error: RecXpress can also generate a batch from the variance amounts when selecting to display ‘Matched with Error’

The Cashbook reconciliation, although extremely versatile, it can still take many hours to balance. By enhancing the import reconciliation function already in Cashbook, an automatic match of up to 99% can be obtained using RecXpress.

This process has been further improved by giving you the ability to ‘remember’ monthly entries and generating a variety of repetitive entries you need not re-enter each month. Customize your default template each month you do your reconciliation until such time almost all entries are automatically generated by RecXpress.

• RecXpress
• RecXpress S
• RecXpress 6steps

• RecXpress

Transaction Codes
Use Transaction Codes to recognize repetitive entries and create rules.

Create Rules
Templates that contain rules can be created for entries that are repeated each month in your bank statement. You are able to match entries in your bank statement and create default information for these entries:
• Entry Description
• Distribution Code
• Account Code
• Tax Group
• Sales or Purchases
• Distribution Sets for Multiple Allocations
• Comments

AR and AP Batches
You can also match entries to your customer and vendor accounts. By matching the bank description the entry can allocate the bank amount to:
• Prepay
• Oldest Balance
• Invoice Number
• Amount

RecXpress will create batches with these defaults that will be posted all the way through to Accounts Receivable and Accounts Payable.

Multiple Entries
Create multiple entries by using Bank Service’s Distribution Sets. Entries like rent information, staff salaries, etc. can be split into multiple details from one bank statement entry.

Category Maintenance
Customise and easily maintain your categories by copying and moving the entries across categories.
Calculates Bank Balance
RecXpress will keep your bank statement correct by automatically calculating the statement balance when importing.

Display Options
Once you have imported the transactions RecXpress will have matched transactions based on the the following criteria:
• Matched
• Matched With Error
• Matched Amount
• More Than One Amount
• No Match
• Many Bank to One Statement
• Many Statement to One Bank

RecXpress Matching
You can easily match entries manually to your Bank Services entries.

Many Bank to One Statement
Match many Bank Services entries to one bank statement entry.

Many Statement to One Bank
Match many bank statement entries to one Bank Services entry.

RX Category Maintenance
You can edit, move and change your default categories while doing your RecXpress Bank Reconciliation

Generate Entries in AP, AR and BK
RecXpress does not only take care of matched transactions, but also unmatched transactions through a Batch Generation feature. Your unmatched entries can be sorted by the category, e.g. bank charges, interest, forex, etc. and separate batches can then be generated.

RecXpress can also generate a batch from the variance amounts that were ‘Matched with Error’ or let Bank Services do the writeoff.

Post RecXpress Batches
Post RecXpress batches and adjustment batch for unmatched entries. This will make the entries correctly matched..

Post RecXpress
Post the RecXpress reconciliation to reconcile all the posted and matched entries in Bank Services to complete the process to match the balances correctly in Bank Services with your bank statement.

Bank Formats
Hundreds of existing bank formats immediatly available. Add your own bank format by supplying Peresoft with the bank format required. Bank balance obtained from the bank guarantees 100% accurate bank balances when importing.

• RecXpress For Bank Services
• RecXpress For Bank Services-300

• Automate the creation of EFT files for your bank,
• Eliminate production of paper cheques
• Avoid duplicate data entry for a quick ROI.
• Integrate seamlessly with Sage 300 AP & AR

EFT File Creation

• Creates EFT files in the format required by your bank, for both payments and receipts:
• Creates EFT Payment files based on the standard Sage 300 processing routines, i.e. A/P Payments, Payroll Cheques, A/R Customer Refunds.
• Creates EFT Direct Debit files based on the standard Sage 300 A/R receipt processing routine
• Optionally, when generating bank files, elect to skip or error on Vendors/Customers/Employees who are not defined in EFT Processing
• Summary transaction logs are created

Bank File Formats supported: 

• Already supports formats for hundreds of banks, from many countries
• Supports user-definable bank formats
• Supports positive pay file formats
• We are frequently adding new formats, or updating existing ones
• If the format you need is not currently supported, Orchid Systems can create it

Remittance Advice and Processing Options

• Remittance Advices can be emailed, using standard Sage 300 functionality, to EFT-specific Customer/Vendor/Employee email addresses
• Outbound emails can be throttled or capped to cater for email platform restrictions
• Can be configured to work with posted or unposted batches or payroll cheques
• Configure to select from a range of batches, pay period end dates, or selected entries

Security Features

• Changes to Vendor/Customer/Employee bank account details require a 2-step approval process
• Extensive Audit logs of changes made and transactions created
• Bank Branch Code and Account Numbers stored in your database can be encrypted – users will only see a masked version
• Optional protection of emailed Remittance Advices using a formula-driven password
• Periodic processing task to delete inactive records
• EFT details are cleaned out when the associated Vendor or Customer is deleted

EFT Bank Details

• EFT Processing for AP/AR holds banking details for Vendors and Customers
• EFT Processing for Payroll holds banking details for Employees
• Warns if duplicate EFT bank branch codes or accounts are entered for Vendors or Customers
• Supports user-definable screen labels to reflect bank terminology
• Optionally stores Vendor bank account details by remit-to code

Sage 300 Module

• Developed in the Sage 300 SDK, providing the familiar Sage 300 look & feel plus standard security, customization capabilities, data integrity checking and more
• Stores all data within Sage 300 and integrates seamlessly with AP, AR.
• Supports Customer/Vendor Number Change
• French language selection supported

• Automate the creation of EFT files for your bank, leading to increased efficiency, accuracy, and security.
• Eliminate expensive paper cheques and avoid duplicate data entry for a quick ROI.
• Benefit from efficiency from Sage 300 integration. EFT Processing integrates seamlessly with Sage 300 AP & AR.
• Increased automation means improved efficiency, greater accuracy, lower costs
• Save time and reduce errors by avoiding duplicate data entry
• Numerous security features, including audit-logging and encryption of bank account details
• Have confidence that your cash movements are secure, and would stand up to an audit
• Hundreds of bank formats already supported, others created on request
• Reduce exposure to fraud by moving away from paper cheques or streamlining positive pay file processing

• Sage 300 Editions: Standard; Advanced; Premium
• Databases: Microsoft SQL Server
• Required Modules: AP/AR Edition requires Sage 300 Accounts Receivable and/or Accounts Payable.
• Feature List: Please note that complete list of features relate to the latest supported version.