ASWAQ6 provides a flexible and powerful environment for managing inbound and outbound checks and bills of exchange. In addition, ASWAQ6 contains a superior system for bank reconciliation that simulates manual procedures while requiring only a fraction of the effort and time needed to reconcile statements manually.
Complete Control over Commercial Papers Life Cycle
The life cycle of issued and received commercial papers is completely documented and followed up, from delivery to allocation to bank related transactions. Implementers have complete control over which documents to use and which documents to omit. Therefore, a simple or complete document cycle can be implemented depending on the level of control and details desired.
Complete Cheque History
Complete Integration with the General Ledger
ASWAQ6 does not stop at following up the workflow and state transition of commercial papers to and from the organization. It supplements the workflow with proper journal entries reflections in the general ledger to express the location and status of each commercial paper. ASWAQ6 permits implementations that separate outstanding checks from debtors and creditors subsidiary accounts.
Furthermore, ASWAQ6 permits independent subsidiary accounts to handle commercial papers received on a guarantee or collateral basis.
Electronic Bank Statement Reconciliation
ASWAQ6 can save users a tremendous amount of time and effort by reading electronic bank statements sent via email or magnetic disks. In this model, ASWAQ6 reads the electronic bank statement and compares it with system entries made against the bank account, automatically matching individual entries and offering managers instant view on system or bank transactions validity and correctness.
Intuitive Statement Matching
When it's time to match the statements sent by bank with the system internal transactions, ASWAQ6 offers a methodology superior even to dedicated reconciliation applications! Users are presented with a detailed worksheet and assisted by automatic matching to most of the entries. The matching process permits multi-line matching, and forgives reverse entries both in the system and the bank side. The final result of the process is produced instantly to the user and stored in the database for future reference and to assist future conciliations.