You’ve all probably experienced performance or latency issues when you are trying to reconcile your statements through the Reconcile Statements screen in the Bank Services module of Sage 300 ERP.

If you are a company with thousands of transactions, it can take some time for the Reconcile Statements screen to load them all up.

We hear about this all the time and people ask what we can do. Due to design, there is not much we can do to increase this performance, especially if you have a high volume of transactions. But what we suggest is maybe you rethink how you actually do your reconciliations.

For instance, is there a reason why you have to reconcile all your statements at the end of the month?

If you answered no, have you ever thought of doing it bi-weekly or bi-monthly? How about weekly or even daily?

By doing reconciliations more frequently, it is actually going to speed this process because you don't have to load up as many transactions at the end of the month because they have already been reconciled and cleared.

There will be some people that have to do reconciliations monthly for certain reasons and there is no way around that. But even if you can go in and reconcile some on a weekly basis without posting it, this still saves you some time at the end of the month as all you need to do is just post those.

Then there are other features like OFX Statements, which matches against your imported statements and your transactions in the reconciliation screen. While it is not used too much, it helps speed up the process.

Sometimes people just don’t think about making these little changes to their routine. People get their bank statements once a month and they automatically think that they have to their bank reconciliations at the end of the month and that is just the way you do it but why? With online banking being on all the time, you can reconcile it every day, every hour if you want to.

It is basically little changes that people can make in the way that they run their business that isn’t really going to affect someone’s day-to-day role and ultimately probably going to help it.

Have you any tips to help make reconciling statements go faster or any questions? If so, sound off in the comments.

For the latest support news and updates...
Follow us on...