The BRS (Bank Reconciliation Statement) and CMS (Cash Management System) reconciliation project aims to create a client-server desktop application to automate reconciliation processes between bank statements, general ledger (GL), and clearing accounts. It enhances accuracy, efficiency, and transparency through automated data imports, role-based access control, business reporting, and both automated and manual reconciliation features.

• Objective:

  • Automate bank reconciliation processes for bank statements, GL entries, and clearing accounts.

  • Improve operational efficiency and reduce manual reconciliation.

• Features:

  • Centralized Database: Stores and serves data securely across users and roles.

  • Role-Based Access: Admin, Initiator, Validator, Approver, Auditor, and Viewer roles with specific rights.

  • Automated Data Import: Handles bank statements (CSV, Excel, text, HTML) and GL dumps from pre-defined folders.

  • Transaction-Based Reconciliation:

    • Cash deposits, collections (cheque/NEFT/RTGS), disbursements, treasury collections, other payments, and bank charges.

  • Manual Reconciliation: Enables handling un-reconciled items for both bank and clearing account reconciliation.

• Reconciliation Logic:

  • Bank Reconciliation:

    • Matches transaction references (narration, UTR, cheque number) between bank statements and GL entries.

    • Groups un-reconciled items under categories like:

      • Collections received but not accounted.

      • Payments made but not cleared.

      • Collections accounted in GL but not received in the bank.

      • Payments not accounted.

  • Clearing Account Reconciliation:

    • Matches debits (core banking entries) and credits (manual entries).

    • Groups un-reconciled items like:

      • Deposits in GL not reflecting in the bank statement.

      • Cash or cheque deposits received but not accounted.

• Reporting and Insights:

  • Business reports for operational transparency.

  • Un-reconciled items grouped for better visibility.

• Compliance and Accuracy:

  • Ensures compliance through accurate matching of data and structured reconciliation processes.

  • Eliminates manual errors and improves workflow efficiency.

• Manual Override Options:

  • Provides flexibility for manual reconciliation where automated processes do not apply.