Due to the fact that there are continuous bank transactions occurring, a system is needed to manage the cash and checks for these processes. ITACNet Cash and Check Management System has the ability of monitoring different bank accounts and financial transactions. It's able to manage money that's given to/ from the company. It also has the ability of keeping track of all checks and cash at all stages. This system is linked with the general accounting system and the accounts receivable.

Detailed characteristics of the Cash and Check Management System:

  • The possibility of defining more than once cost center for each company.
  • Define users involved in the receivables and exchange operations.
  • Define special accounts in the process of receiving or exchange for each user.
  • Link exchange or receivable's operations with the clients and the effect on the client's account depends on the nature of the financial process.
  • User can perform the reception and exchange process, both in local currency or foreign.Immediate printing of the receipt and exchange vouchers with the ability of re-printing later.
  • Print forms of exchange and checks for each company within a certain form.
  • Record received checks information for any transaction captured in full detail.
  • The issuance and maintenance of the information of checks issued as a result of any exchange process and print checks resulting from the exchange process.
  • Match the financial movements of the working day with the actual assets of the fund through the audit reports and daily inventory of the funds.
  • The transactions of the General Ledger are synchronized by choosing the type of transaction, and identify the transactions that need to be synchronized while the synchronization process occurs automatically for the General Ledger.
  • An automatic connection to the daily movements in the funds with the General Ledger system, checks, and accounts receivable and payable.
  • The ability of an immediate inquiry about the balance of any client or any other account.
  • The possibility of maintaining a complete record of banks data and their branches and bank accounts of various types (current, current debtor).
  • Define checkbooks information and maintaining the serial numbers of check books obtained from various bank branches that are defined on the system with the possibility of identifying checks papers that were cancelled.
  • Ability to deal with different types of checks with the creation of different accounting effects in the General Ledger System depending on the type of check.
  • ITACNet Check Management System is highly efficient in providing follow up and management of the status of the check in the various stages through defining all cases of the check and connecting all cases to a certain account in the General Ledger to follow all transactions on the incoming and outgoing checks, whether transactions were a deposit, withdrawal, return or payment.
  • The ability of the system to liberalize the automatic entry resulting from the financial transactions on checks on the general ledger as a result of directly linking each case to a particular account.
  • Maintain detailed data of the incoming checks like the Bank and the branch and the right date and the due date and all other key data.
  • Revise transactions on the bank accounts and audit by the bank settlement automatically.
  • The possibility of collective deposit of checks and according to the mechanism identified by system constants and variables.
  • A wide range of analytical reports that shows the status of the clients in regards to the clients and the company separately.