Bank Reconciliation Module By AlfaPeople
AlfaPeople |
Aug 30, 2017

Bank Reconciliation Module By AlfaPeople

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The Bank Reconciliation module by AlfaPeople is a functionality adapted to Dynamics 365 – AX, ideal for companies that handle a large number of transactions where doing the manual reconciliation becomes inefficient.

Manage your bank reconciliation process with a more agile process of loading and automatic cross-checking from flat files (.txt) or Excel files (.xls), using a tool able to be adapted to the different formats in the banking environment.

About what we do

Alfapeople Andino is a company devoted to strengthen the talent of our team in order to deliver the best solutions to our clients. This is why we are the leaders in Colombia in locating ERP Microsoft Dynamics 365 – AX, adapting our ERP best practices to the needs of our country. So, because of the imperative need to handle bank reconciliations, we developed our own module for bank reconciliation management, which allows our clients to adapt the ERP to the different formats of bank statements handled within the local and international banking.

Business strengths

[/fusion_text][fusion_imageframe lightbox=”no” gallery_id=”” lightbox_image=”” style_type=”none” hover_type=”none” bordercolor=”” bordersize=”0px” borderradius=”0″ stylecolor=”” align=”none” link=”” linktarget=”_self” animation_type=”0″ animation_direction=”down” animation_speed=”0.1″ animation_offset=”” hide_on_mobile=”no” class=”” id=””] [/fusion_imageframe][fusion_separator style_type=”none” top_margin=”20″ bottom_margin=”” sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””/][fusion_text]Bank reconciliation is a process that allows to compare and reconcile the values that the company has registered in Microsoft Dynamics 365 – AX, from a savings account or current, with the values that the bank provides through the bank statement. To carry out this process in an almost automatic way, the bank has to issue an extract concept by concept in a TXT file or in an Excel Table (XLS). However, to perform this process automatically, simply and quickly, the bank reconciliation developed by AlfaPeople Andino allows:

  • Approve our types of transactions with the codes used for the different banks.
  • Define the essential data types to reconcile AX transactions against the bank statement
  • Create the different extract formats according to each bank specification, either in flat files (.txt) or Excel files (.xls).
  • Create accounting entries automatically if necessary in cases of costs and expenses arising from the operation with the bank.
  • Manual editing for pending transactions
  • Execute reconciliation closures automatically if the differences are zero
  • Have the necessary information during the process of loading files and reconciliation process with different chromatography.
  • Major time-saving.

In addition, the module contains reports and consultations to support the bank reconciliation process.
As a backup, AlfaPeople Andino has a team with enough experience to adapt to the different needs of the market with a large group of customers.


  • Reduction of time to complete the bank reconciliation process by using our product, which results in more time for our client’s staff dedicated to the analysis of the banking and treasury processes.
  • Provides a greater process control by reducing the risk of manual process errors.
  • This process Improvement allows to identify the inconsistency Y7O errors, providing a better response time.