In yet another first in Housing Society Accounting Software, ApnaComplex now supports automatic reconciliation of your bank account with the bank ledger account maintained in ApnaComplex.
Auto-reconciliation in Society Accounting Software
1. Society Treasurers / Auditors can Upload the bank statement in ApnaComplex reconciliation module.
2. Society Treasurers / Auditors have a choice to ignore those transactions that are already reconciled.
3. ApnaComplex attempts to match the bank entries with the ledger entries based on narration, cheque number, deposit/withdrawal amounts.
4. If a match is found, ApnaComplex marks the ledger entry reconciled and updates the bank date field of that ledger entry
5. If multiple matches are found, the same is updated in the reconciliation notes.

Summary of the reconciliation is presented along with the list of entries present in the bank statement that could not be reconciled. Treasurers can download these entries into an excel to maintain a record. Treasurers / Society auditors can validate and overwrite any records if needed. In addition, the auto-reconciliation can be done any number of times.

Auto-reconciliation should save significant efforts for Treasurers / Auditors using ApnaComplex.

Want to maintain financials easily and transparently in your Housing Society? – Get on to ApnaComplex – Today!

ApnaComplex is India’s best web based housing society accounting software.
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