Balance & Transaction Reporting
Cashfac Balance & Transaction Reporting provide firms with visibility into enterprise-wide balances and transactions across their entire account infrastructure, even if accounts are held across a variety of banks.
The solution simplifies the daily task of gathering bank account information including account totals and transaction data for optimal cash management across all accounts.
Establishing a company-wide balance, through multiple banks, with numerous bank accounts, frequently in different currencies has always been a time consuming and challenging process. By mandating strict reforms to improve financial disclosures, the Sarbanes Oxley Act 2002 has firmly placed the onus on firms to demonstrate that they have robust internal controls for the management of their accounts.
Features & Functionality:
- Generates reports related to daily exceptions and transactions, automatically notifying users of any issues related to the payment or receipt of a transaction.
- Offers a proactive, automated process for companies to confidently track and monitor their compliance with the minimum levels of resource and in the shortest possible time.
- Provides richer and more useful statements than traditional bank statements. Important references and narratives related to specific transactions can be overlaid onto Cashfac statements to provide greater granularity and useful context for account management.
- Provides real time notifications for any transaction that cannot be processed or where insufficient funds are available to make payments from an account.
- Automatically delays transactions where the balance or credit limit is not sufficient to fund payment.
- Provides 24-hour online availability of bank account statements.
- Is bank agnostic allowing both balance and transaction extracts to be provided in a single format and statements across multiple banks accounts, from multiple banks, to be consolidated for greater transparency and control.
- Enables Documentary Evidence in the form of excel, word and PDF documents, images and photographs to be stored against transactions for audit and control purposes including during the authorisation workflow.
Find Out More
For more information on our Balance & Transaction Reporting Solution, download a complimentary copy of our Balance & Transaction Reporting Solution Brochure or contact the team to discuss your requirements or request a demonstration.