Bank Statement Reconciliation

Agate III provides two methods for reconciling a bank statement.  The Accounts Payable system contains a check reconciliation process that is very effective, if most statement activity is checks.  However, more and more organizations utilize ACH (automated clearing house) transfers, rather than checks for payment processing, making this check reconciliation process inefficient. 

Agate III's General Ledger reconciliation process is more effective for these organizations.  Account's Payable journal entries are posted in check detail, rather than summarized.  For ACH activity, journal entries are made manually or posted from spreadsheets, using data often provided by the bank in computer readable format.  Journal entry detail, rather than Accounts Payable check detail, is then reconciled with the bank statement.