Minimised Errors
By reducing manual data entry, automated systems significantly lower the chances of human mistakes.
Send Email :
info@telic.digital
Call us :
0303 666 5438
Send Email :
info@telic.digital
Call us :
0303 666 5438
Managing high volumes of financial transactions can be time consuming and prone to error when done manually. Automated cash reconciliation simplifies this process by intelligently matching transactions, often with a click.
Bank statements can be imported directly into the system, significantly reducing manual data entry and saving valuable time. A built-in notes feature also allows teams to quickly identify and resolve any discrepancies. Additionally, flexible matching rules can be tailored to suit your business needs, ensuring transactions recorded by the bank align accurately with those in your internal cash book.
Our automated solution for cash reconciliation is designed to optimise your financial processes with ease and accuracy:
The approach to cash reconciliation varies based on an organisation’s structure and financial requirements.
Here are some common methods:
Performed at the close of each business day, this method is essential for companies with frequent cash transactions such as those in retail or hospitality to maintain accurate, up-to-date records.
Conducted less frequently, this method offers a broader perspective on cash movements. It supports financial planning, reporting, and helps in identifying long term trends.
This involves reconciling cash flow within individual teams or projects, allowing for a detailed understanding of financial activity in distinct areas of the organisation.
Implementing automation in cash reconciliation has become essential for many businesses, effectively addressing the limitations of traditional manual methods. The advantages of automation include:
By reducing manual data entry, automated systems significantly lower the chances of human mistakes.
Automation accelerates the reconciliation process, enabling real-time updates and easing the workload of finance teams.
Automation tools enhance the precision of record matching, quickly pinpointing discrepancies.
With automated systems, businesses gain a clearer, up-to-date view of their cash flow, improving financial transparency.
Telic’s automated solution makes cash reconciliation faster, easier, and more accurate by working with your existing financial systems. Instead of spending hours on manual matching and data entry, finance teams can rely on automated processes to quickly identify discrepancies and ensure records are up to date. By integrating with your current setup, Telic helps you get the most out of your systems while significantly reducing the time and effort needed to reconcile cash transactions.
