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TRAVERSE Bank Reconciliation application helps you streamline and improve the reconciliation of bank statements with general ledger bank accounts. It makes important updates to TRAVERSE General Ledger and receives timely entries from the other applications.

Bank Reconciliation gives you the ability to eliminate errors and control cash outflow with the Void Checks and Stop Payments function. All voided Accounts Payable transactions are completely reversed. You’ll save time during transaction entry by entering your recurring adjustments only once; these include finance charges, service charges, and interest income. You’ll also have faster data entry because you’ll have the flexibility to define your own default descriptions and references.

  • Unlimited number of bank accounts with the Bank Accounts screen
  • Account balance automatically displayed from the general ledger account if Bank Reconciliation is interfaced with GL
  • Last statement balance and statement date updated when reconciled
  • Enter recurring adjustments (finance charges and service charges to your bank accounts)
  • Enter a transaction in any currency if the multicurrency option is on
  • Void a check before it is sent or stop the payment of a check before it is cashed
  • Void any check after it has been posted
  • Stop the payment of any check, even if it was posted from an interfaced application
  • Purge a cleared transaction by bank account ID and by transaction date
  • Review total debits and credits posted to GL for each period in Post Transactions Log
  • Ability to view account number, description, contact information, and statement through the Bank Accounts List
  • Print journal to check for errors and omissions
  • Maintain an accurate audit trail
  • Reports that list the cleared transactions, outstanding transactions, and bank-to-book and book-to-bank reconciliation information

Bank Reconciliation Reports

  • Bank Reconciliation Journal
  • Reconciliation Report
  • Bank Account Register
  • Bank Accounts List
  • Recurring Adjustments List