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PRESS RELEASE
By 10 April 2014 | Categories: Press Release

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Businesses that use the Sage 300 ERP300 (formerly known as Sage ERP Accpac) business software can shave hours or even days off the time it takes to compile their cashbooks, thanks to a feature that allows them to automatically match data from their bank statements to entries in their cashbooks.

This new feature called RecXpress becomes an integral part of Cashbook for Sage 300 ERP, the Peresoft product that has served as the cash book solution for Sage 300 ERP for the past 30 years. By automating the capture, generation and reconciliation of all transactions from the bank statement through a set of user-defined rules, this feature can slice the time it takes to do the monthly cash book from a couple of days to a couple of hours.

The way it works is this: the product allows you to create business rules for cash book entries so that the Cashbook will correctly allocate transactions in your bank statement to the correct General Ledger, debtors or creditors accounts. If an entry requires multiple disbursements – for example to salaries and medical aid – the rule can be configured to distribute the amounts to the correct accounts.

Each month, you can add entries that do not yet have rules to your rules template. Within one tax year, the Cashbook will be able to handle the vast majority of entries automatically using the rules you have set up. The benefits are compounded for larger businesses that run multiple cash books.

“Automation frees your time or that of your employees to focus on more strategic activities; in addition, it ensures that data is captured correctly the first time,” says Jeremy Waterman, managing director of Sage ERP Africa.

Peresoft Cashbook includes a range of other powerful features:

·         Multiple years of history

·         Online cheque and receipt printing

·         Full Tax Services integration

·         Drill down from other Sage 300 ERP (Sage ERP Accpac) modules

·         Unlimited report writing

·         Customisation by user

·         Seamless integration to other Sage 300 ERP (Sage ERP Accpac) modules

Says Bobby Perel, managing director at Peresoft Software & Support: “We see this automatic data matching feature as one of the most important enhancements we have made to Cashbook since we introduced it 30 years ago. It is changing our clients’ lives more dramatically than the adoption of our computerised Cashbook did all those years ago.”

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