Account Reconcilement

Account Reconcilement

A service in which one balances all outlays and payments, finds out what outlays must still be made and what payments are still outstanding, and determines how much cash a company has on hand. Outside parties often conduct account reconcilement in order to provide a level of objectivity to their analysis. See also: Cash management, Outside audit.
References in periodicals archive ?
ISCustomerDelivery streamlines the delivery process and provides instant access to item images, accelerates the research and account reconcilement processes and increases customer convenience, particularly with large volume commercial clients.
Any converted business check presented on a business account that has controlled disbursement, account reconcilement, positive pay or stop payments is also passed to those systems for reporting and review.
North Bay Bancorp, holding company for The Vintage Bank and Solano Bank in Northern California, implemented Exact/TMS(TM) after corporate clients began asking about account reconcilement and positive pay services.
The layout and navigation of the balance report has also been improved, providing hyperlinks to individual transactions, making account reconcilement more timely and efficient.
Any business check presented on an account that has Controlled Disbursement, Account Reconcilement, Positive Pay or stop payments is also passed to those systems for reporting and review.
CheckFree Financial and Compliance Solutions, a business unit of CheckFree Corporation , today announced that National City Corporation has selected CheckFree ARP/SMS(TM) (Account Reconciliation Package/Service Management System), a fully integrated, online, real-time check and deposit reconciliation system that will enhance National City's existing Account Reconcilement and Positive Pay products for its corporate clients.
With ACT Plus, clients receive full account reconcilement to internal accounting records.
This strategy includes such services as online check images, managing multiple accounts and loans, bill and tax payment, account reconcilement with positive pay and much more.
Through a secure, easy-to-use Internet platform, the customer benefits from improved reporting capabilities including report scheduling and exporting payment files and account reconcilement.
We have been referring our customers to IPS for their DoubleCheck Software for quite sometime," stated Alex Hubay, Wachovia Vice President and Account Reconcilement Product Manager.
Lungberg also spent 20 years at Bank of America, working in the areas of cash management and credit services, account reconcilement and corporate trust services.
Additional banking services to be provided by PNC Bank will include an array of treasury management services, consisting of lockbox, account reconcilement, controlled disbursements and internet-based services, as well as an interest rate swap through PNC Bank's risk management unit.