Bank

The Bank module comprises of three key components, cashbook management, bank reconciliation, and smart card integration. 

In respect of trading items Cloud9 Bank is totally integrated at transactional level to both accounts receivable and accounts payable.  In respect of non-trade items, RB facilitates non-trading cash book, which is analysed by expense category and period.

All receipt and payment transactions are integrated with bank reconciliation, which facilitates automated reconciliation at bank statement level. 

The smart card payment solution encompasses real time interfacing with leading credit card clearing service providers. All smart card payments (customer present/not present) are completely automated and integrated into back office from both an authorisation and settlement perspective. All procedures are processed at transactional level.

• Multiple Bank Accounts
• Real-time integration with all  modules
• Real-time Ledger and Report updating
• Entry of Customer/other receipts, which then can be grouped and totalled for lodgement on any given day.  A Print of this listing is also available to support the bank lodgement
• Entry of  Creditor/other payments 
• Detailed as well as summary analyses of all receipts/payments
• Bank Reconciliation module also facilitates entry of non-system transactions for bank charges, interest etc.
• Automated and integrated Credit Card Processing – Customer present/Non present 
• Authorisation: each transaction is automatically populated with unique authorisation code
• Settlement: Bank Reconciliation Module is automatically populated with Bank batch numbers generated as part of the end of day credit card settlement process
• Automated bank reconciliation of matched and unmatched items (Batch numbers)