Federal Bank Integration with SYSTACC

Overview

Accounting software built for travel

A travel business runs a lot through its Federal Bank account: client receipts by NEFT, RTGS and UPI, supplier and airline payments, cheques and bank charges. SYSTACC brings that statement and your books together with bank reconciliation.

Open Bank Reconciliation, pick your Federal Bank ledger and choose the FEDERAL template. Upload the account statement as an Excel file. SYSTACC reads each line from the Federal Bank layout, with the serial number, transaction date, value date, cheque details, particulars, withdrawal or deposit amount and balance. Only numbered transaction rows are read, so headings, totals and notes are left out. You see a preview before anything is saved.

Then every line is matched to your books. A deposit is matched to a receipt, and a withdrawal to a payment, on the same Federal Bank ledger, for exactly the same amount, on the value date or the transaction date. When there is one such entry, the line is marked reconciled and the receipt or payment number is recorded against it.

When more than one entry fits, the line is marked as a possible match. You open it, see the receipts or payments with that amount and date, and pick the right one. An entry already matched to another line is not offered again, so one receipt cannot settle two deposits.

Lines with nothing in the books are marked not matched, such as bank charges or a payment nobody has entered yet. SYSTACC does not post anything on its own, so you decide how each one is recorded.

Each upload shows the total lines, reconciled, possible match and not matched counts, with the statement total, the book total and the difference, so you know the gap before month-end. Uploaded files are listed by date, and you can delete a single line or a whole file and upload again.