What Is New?

587 views

Introducing Automated Bookkeeping with Bank Rules and Reconciliation

By Praise Arannilewa

On
Introducing Automated Bookkeeping with Bank Rules and Reconciliation - in Nigeria Ghana South Africa Kenya USA Canada Morocco Egypt Lagos Abuja

Share on:

At Tyms, our goal is to deliver an exceptional user experience while guiding you towards achieving an impressive profit increase of up to 10x.

To achieve this goal, we are ensuring minimal manual data entry and automated bookkeeping by automatically pulling your transactions from the bank, categorizing them and assigning to the relevant parties using predefined rules. Hence, the introduction of bank rules and bank reconciliation.

Bank Rules

For ease in record-keeping, Tyms has introduced bank rules which serve as a predefined set of conditions within the application, enabling users to effortlessly categorize transactions. These criteria can be created by you while using Tyms.

Once these are met, these conditions facilitate the automatic assignment of customers, categories, and transaction types to transactions that you may have pulled from your bank statements and creates the record instantly. With this feature, you no longer need to record transactions manually!

Bank Reconciliation + Pulling Bank Statements

We've introduced the bank reconciliation feature to help streamline your reconciliation process. Now, you can create reconciliations by selecting a specific time period, making it easier to focus on a specific set of transactions. With this feature, you can also view the status of each transaction, clearly indicating whether it has been reconciled or not.

The added benefit is that you can see your bank records side by side with your cashbook, allowing for a seamless comparison. The ultimate goal is to reconcile these transactions until the bank adjustment value reaches 0, ensuring that all outstanding amounts are accounted for.

To get started, sign up here: https://mybook.tyms.africa/auth/register


More articles like this ✍️
Bookkeeping And Accounting

Blessing Obiora

3 mins read

Business Insights

Blessing Obiora

3 mins read

Author

Praise Arannilewa

Product and Growth

Need a smarter accounting system?

Then Tyms accounting and finance automation software is the answer to your question, irrespective of your mode of financial operation.