What is
BREC is the Bank reconciliation program. It is used for matching in-coming Statements with transactions posted to any Nominal/General (NOM) account. Individual items that appear on a bank statement (transactions) can be matched off with their ITAS counterpart, i.e. ITAS booked documents. Reconciliations can be actioned for any NOM/currency combination.
BREC presents the user with two forms. The first form shows static/summary information pertaining to the accounts previously set up for BREC and the status of their last reconciliation. This information includes account number, account name, currency, date of latest reconciliation, the reconciled amount, and who/when the last BREC task.
To activate a new account/currency, you will need to enter the account, currency and a start date older than the first ITAS transaction for that account. State a zero start balance. Action a full reconcile upto a known balance i.e. NAQ as C.O.B and action a standard reconcile.
One previous reconciliation can be removed for any account/currency, use mouse right-click when on first window of BREC, note that matching of memorandum items with their ITAS posting(s) is not a part of the reconciliation and can never be reversed/rolled-back.
The second window is the actual reconciliation, which is activated by cursor on the row (account/currency) and double-click, selected data items for each unmatched transaction are listed ready for marking, in mass ore individually. Items on the statement but not in the ITAS cashbook can be added to the grid to complete the reconciliation. If there are previous entered manual items that have not been matched with their ITAS accounting entry, an alternative second window will appear which will allow the user to scroll through all the existing ‘memorandum’ items attempting to replace their content with the true ITAS posting(s). This activity is supplementary to the reconciliation because the ‘memorandum’ item was entered to complete a previous reconciliation.
Reconciliation is only complete when balanced to zero (bank statement total and total of marked documents), yet a postponement feature allows the user to complete reconciliation at a later time. The latest reconciliation either completed or postponed can be reversed/undone by right click on main grid row and ‘Reverse last reconciliation’
On completion, a file print of the process is secured automatically in OPRINT and the user also has the option to produce their own printout.
S01 configuration (ctrl02_brecaddons) enables additional features & controls.
a) The Reconciliation completion is handled in 2 stages, i.e. the Prepare user sets up the reconcile with additional memorandum commentary. The privileged user Reviews and either Rejects or Completes the reconciliation.
b) The history of all reconciliations is maintained for subsequent viewing
c) The print of the process is now secured in DOCMAN (system directory BREC).
d) The user can attach other documents into DOCMAN for specific reconciliations; use right click 'Index'
S01 configurations ctrl10_breccorp, ctrl10_breclist enable Consolidated BREC for several Entities. BREC is disabled for the associate Entities. Consolidated BREC can ONLY be activated for Entities that have not previously executed BREC. Contact Hivedome for further information.