xtendBI SAP Business One Implementation Specialists. More than just accounting.

xtendBank

Introduction

xtendBank enhances banking functionality and speeds up the banking process by automating most of the manual actions needed to be performed by the cashbook person. It also allows downloading of bank statements and the uploading of EFT files for most of the South African Banks and the different banking systems used by the banks.

Features and Functionality

• Importing of electronic bank statements for electronic reconciliation purposes.
• Mapping of General Ledger accounts to specific transactions for automatic posting
• Automatic Posting of Customer and Supplier payments to their accounts
• Split payments of Customer and Supplier accounts
• Utilisation of a suspense account for payment allocations as a two step process.
• Creation of an EFT file in the bank of your choice format for payments, after running the SBO Payment Wizard.

Advantages

• No need for manual reconciliations, or manually capturing the bank statement for electronic reconciliations
• Increase accuracy as mistakes are less as capturing or manual reconciliations do not take place
• Fast (Automated) bank transaction capturing.
• Audit trail for payments made or received throughout the banking process
• EFT output file is in the correct layout for your bank. Thus no recapturing of transactions. Just upload to your banking applications and pay.