Cash Reconciliation

Cash Reconciliation

As a fund company, you constantly need to reconcile money activities between your transfer agency system and the bank recorded activities. These activities become infinitely layered if you introduce the complexities of multiple currencies, currency exchanges and concentration accounts used for the money movement process.

Envision Financial Systems automates your daily cash reconciliation processes through a partnership with Chesapeake Systems Solutions' T-Recs® system. T-Recs® manages the complex money movement calculations and automates the daily cash reconciliation process. Data exchanges are seamless with PowerAgent to efficiently and effectively minimize the time and cost spent on the cash reconciliation process.

Our cash reconciliation solution:

  • Accurately represents the banking account structure that any fund company uses, from custody accounts to shareholder DDA.
  • Supports multiple currencies allowing for movement between bank accounts with different currencies.
  • Automates and track money movement for dealer payments—including checks, wires, CDSC advance commissions, redemption fees and trailer fees.
  • Automatically receives buy and sell activities and the dollar activities (checks, wires) that correspond to the share transactions.
  • Performs complex transaction analyses and reconciles expected activity against actual activity at the bank account level.
  • Produces output in file or report formats that can be fed to banks for settlements on any given day.
  • Provides you the flexibility to set your own business rules such as de minimus cash reconciliation differences, cash matching criterion and reconciliation frequency.
  • Has the flexibility to process multiple times a day, for example, a money market fund that closes mid-day.
  • Supports SWIFT numbers as well as ABA numbers, which is critical for international banking regulations where ABA numbers are not supported.
  • Automatically consolidates ACH deposit transactions from a wide array of banks into domestic or foreign currency based concentration accounts to more effectively manage cash flow.
  • Processes NSCC money movements based on expected trade settlement giving the fund a better idea of available monies.
  • Creates, prints or voids deposit slips for shareholder investment checks received by the fund.