ISB Bank Account Management Module
Our Bank Account Management module keeps bank account transaction history and keeps you informed about cash flow.
Detecting and preventing fraud is critical to every business. ISB's bank account management system verifies bank account transactions through a regular reconciliation process. Cleared checks, deposits, and ACH transactions are matched with the business bank account to ensure correctness and prevent fraud.
Any number of bank accounts is supported, each tracked via a unique General Ledger account. Check numbers and transaction ID numbers are rolled over and archived via a virtual check book system. Different virtual check books can be assigned to different Accounts Payable clerks and to different functions within ISB.
The Bank Account Management module also provides access to Automated Clearing House (ACH) transaction and positive pay features. Using ACH transactions instead of paper checks eliminates the possibility of stolen and forged checks, reduces fraud, and saves you money on banking fees and postage.
Positive pay allows you the flexibility of continuing paper checks while reducing fraud by sending authorized check data to the bank ahead of time. With positive pay active, any attempt to present a check not previously authorized is rejected.
For banks that offer automated services, ISB can be configured to send and receive ACH transactions automatically without requiring any manual process.
ACH and positive pay require appropriate support from the business' bank. Not all banks offer these services.
From tried and true paper checks through to modern digital banking, ISB does what you need. Want to know more? Contact us and we will be happy to answer your questions, show you a demo, or discuss whether ISB is right for your business.