Complete your financial system by automating vendor payments and the subsequent bank account reconciliation processes.
Do you find manual bank reconciliation to be labor-intensive, time-consuming, and even at times, error-ridden?
Free up resources in finance - import account statements from the bank, match attachments, combine payments, and create deposit slips automatically.
Continia Statement Intelligence includes functionality to load electronic bank statements from the bank, allowing Continia Payment Management to easily balance your bank accounts. This simply requires bank statements in electronic form.
The account statement is loaded into Continia Payment Management, which finds the corresponding bank entries – or makes suggestions if there are multiple options. Additionally, proposed counter-entries are automatically created if the bank entry cannot be found, for example, deposits, interest, fees, and more.
Balance Debtor Payments in a Few Steps
When a given period’s account statement is loaded into Business Central, Continia Payment Management has already closed and posted the entries.
Continia Statement Intelligence then finds all debtor payments via account transfer or another format, including foreign payments, and creates these entries on the deposit slip.
Continia Statement Intelligence also recognizes fixed, recurring items such as bank fees. If there are any unclear entries after reconciliation, such as errors in the notification text, these items are automatically transferred to a draft where you can make posting proposals.
Handle Exchange Rate Differences Easily
Different currencies are handled quickly and efficiently. When an invoice in a foreign currency is posted, it is registered in your local currency at the daily rate. After this, the invoice amount is transferred to the bank via Continia Payment Management, and it will corresponding with the specific day's rate.
The payment is sent to the bank with Continia Payment Management, and the subsequent bank statement from the bank is loaded into Continia Statement Intelligence, which locates the corresponding bank records in Business Central.
Continia Statement Intelligence registers differences in the price amount from the posted price to the payment price, automatically suggesting that journal entry lines are created to post these exchange rate differences on a price difference account.