At bank reconciliation, you are challenged by the fact that banks are writing as they please in their texts. This challenge may involve that you, when making entries, have a payment for suppliers, but the bank distributes items next to the specific supplies. This constitutes a challenge with the balancing of the bank.
In the Balance4u system, we have considered these challenges, and the matching takes place very quickly, with good documentation of which items are matched. Balance4u is user-friendly, well set out and manageable. We have customers who save several days of work every month. New customers are therefore often requested to contact current customers for a reference.
Bjarne Duun, Controller, Sahva A/S: “We have used Balance4u for 3 years now and have not regretted it for a second. We have saved minimum 2 days a month and only spend a few minutes per balancing now. In addition to this, we balance our banks on a weekly basis and are thus always abreast of things.
We extract our account entries to a CSV file from both our bank and our ERP system.
The two files are read into Balance4u, and the items in the two files are then matched automatically, based on the criteria set up by us. We primarily match on date and amount.
The entire process of automatic matching several thousand items takes a few seconds.
We are then left with very few items, which could not be matched immediately. We match them manually in Balance4u and rectify any incorrect entries.
We have full documentation of our balancing at all times.
Can really recommend the system and the people behind it.”
Balance4u is a Danish company, founded by Michael Steffensen in 2005. We have specialised in balancing of bank accounts and other financial accounts by means of our web-based balancing system.
• Our primary group of customers have a large amount of transactions.
• We only have satisfied customers, who know that we are doing our utmost to solve their challenges.
• Many of our customers have been with us for several years.
• New customers are encouraged to contact present customers for references.