Automated Bank Reconciliation

Seamless payment and automated bank reconciliation processing

Being a true cloud accounting software solution we are constantly adopting the latest innovations within the banking and settlement space. Our focus is to make domestic and foreign payments as seamless and secure as possible with AccountsIQ’s automated posting and automated bank reconciliation functionality. AccountsIQ is PSD2 compliant and integrates easily with many legacy electronic banking systems.

Our customers like these functions:

Bank transaction import
Memory rule for auto-posting
Auto-bank reconciliation to speed up the period end reconciliation process
Integrated payments
Batch payment with suggested payments and auto allocation
Payment approval prior to releasing payment files
3 way FX settlement (£, $, €,)
Cashflow forecasting for working capital and long range budgeting
Direct debit module
Open Banking integration facilitates access to banks in the UK and Ireland for bank feeds, and API integration for payments and receipts.

Overall, the processing time which AccountsIQ saves us in data entry from other business systems, reconciliation, and automated invoice processing constitutes about a day a week. This allows us to spend more time on the more “value-add” aspects of the Finance function, analysing and presenting information on which the senior management team can make more informed decisions.

Nick Treanor, Financial Controller, Hibernia REIT