Savvy business owners know that time is money, and that time saved is like money earned.
Smart companies look for ways to leverage technology to free them from time-consuming duties that can easily be automated. That’s why we encourage all our customers to add Adagio BankRec to their accounting system.
One customer that took our advice reports that Adagio BankRec reduced a three-day job for one user to just 20 minutes a month!
The greatest time-saver is automatic matching from the electronic list of what the bank has cleared with outstanding items in Adagio. You can also set up BankRec to evaluate the description of unmatched items (such as interest charges) and make a batch of transactions to be posted.
Sometimes the bank has broken down one outstanding item into several items in the electronic bank file. You can match one entry to many, many entries to one, and many entries to many. You can even “clear with error” if the difference is not material.
Here are other major features of Adagio BankRec:
- A Cash Flow report – which brings in data from AR and AP
- Print receipts for payments on account or donations
- Set up credit card accounts as if they were bank accounts and make ‘statement rules’ to evaluate descriptions to create transaction batches