Describing the BRS Solution

Description

The Bank Reconciliation System (BRS) is an emulation of the SYSPRO Automatic Bank Reconciliation utility which is found within the Cash Book Menu. BRS translates the electronic statement from the associated financial institution and then matches the transactions on the electronic statement against the SYSPRO Cash Book transactions. When a correct match is determined, the relevant SYSPRO Cash Book transaction is flagged as reconciled. Un-reconciled bank statement transactions are stored by the BRS module for future matching attempts. All transactions, whether reconciled or not are represented on a report.
Once bank statements have been imported into BRS, the following functions are available:

• Manual Reconciliation Flagging – Where duplicate entries prevent automatic reconciliation, manually select a statement transaction and a Cash Book and action the reconciliation of the SYSPRO Cash Book entry.
  Select multiple bank statement transactions to be reconciled against a single SYSPRO Cash Book entry and vice versa
• Manual Cash Book Transaction Creation – Generate Cash Book entries into SYSPRO from any of the selected bank statement transactions
• Automatic Cash Book Transaction Creation – Cash Book transactions may be automatically generated in SYSPRO using a masking function which allows the user to specify specific matching rules. This masking functionality will also delete statement entries if not required
• Generate SYSPRO AR Payments From Deposit Entries – Deposit entries on the electronic statement may be used to quickly allocate payments against Customers in SYSPRO from within the BRS process. This process will also leave the bank statement transaction in the BRS system to allow for automatic reconciliation of the resulting Cash Book entry to be reconciled once it has been generated by the printing of the bank deposit slips.

Overview

The automatic BRS module allows for the user to select the definition of the input electronic statement file from the financial institution allowing the BRS module to correctly translate the statement. This is a selection ONLY option and the associated list contains the different bank file types that the user must select. It is important for the user to know which bank file they are using (i.e. it is not sufficient to know which bank you use, you must know whether the file is in Ascii or Delimited format etc.)

Once the user has selected the file definition, a program that is linked to this file definition is automatically used for the  translation. This program takes the electronic statement file from the bank and converts it into a standard layout to   facilitate the reconciliation of the transactions.

Make sure that the file received from the bank is known to you before you start this process. There are also multiple electronic statement formats from some banks, so be sure to know what the layout is of the file you are going to process.
If you chose the incorrect bank format for the file you want to reconcile, the reconciliation process will not be successful and will produce a report indicating the errors encountered.
The reason for this functionality is purely because the different banks use completely different layouts for their bank statements. The objective of this solution is to take the different layouts from the different banks and convert the records into the layout that the automatic Bank Reconciliation System program requires.

The user may import a file and all the results from the reconciliation attempt using the statement transactions are represented on an associated report:

• Unreconciled Statement records
• Non-translatable Statement records
• Reconciled Cash Book
• Un-reconciled Cash Book:

All un-reconciled transactions are written into the BRS module allowing for future attempts to reconcile the transactions against the SYSPRO Cash Book transactions. This is relevant when the SYSPRO Cash Book transactions are only generated subsequent to importing those same transactions from the statement file.

This version of BRS incorporates the following functionality:

• Smart Reconcile: Provision has been made for the user to manually link transactions from both the bank statement and SYSPRO Cash Book to allow simplistic reconciliation of transactions that have not been matched due to factors such as duplicate values.
  Select multiple bank statement transactions to be reconciled against a single SYSPRO Cash Book entry and vice versa
• Manually Create Cash Book Transactions: Generation of SYSPRO Cash Book transactions in SYSPRO based on the electronic bank statement transactions. In this case, the SYSPRO Cash Book Transaction has not yet been captured when the associated bank transaction is encountered and the user may initiate the creation of the SYSPRO transactions from the BRS module.
• Automatic Cash Book Transaction Creation: The user may configure a BRS Mask setup which will allow for the automatic creation of Cash Book transactions based on matching of specific text on the bank statement reference, narration or trans code entries on the transactions. A good example is the account interest or monthly charges.
• Allocate payments against customer from deposits: Enter or browse to select your Customer and simply select the specific invoices to allocate the payment against that Customer based on the deposit amount on the statement.
  Select multiple unpaid invoices totalling up to the statement deposit amount and payments will be applied against those invoices.
  The undistributed value is displayed as you select the customer invoice and displays in red once the deposit has been fully distributed.
  Simply allocate an unapplied payment against a SYSPRO Customer to allow invoice allocation manually at a later stage.
  Once the deposit has been allocated, by selecting the “Create Payment” button, BRS will automatically create the associated AR Payments against the associated customer and the bank statement entry will turn green indicating that it has already been used to generate AR Payments and the user will only be allowed to reconcile or delete this entry.
  Once the user has printed the bank deposit slip and the relevant Cash Book entry has been created, it will be possible to allow the “green” bank statement entries to automatically reconcile the Cash Book entry.
  (Please note – this payment allocation is only available from SYSPRO 7 onwards)