Catch A Thief With Automated Bank Reconciliation
Today it’s entirely within the realms of possibility for an employee to redirect credit card transactions to their personal bank account. All it takes is a little tech knowledge and a lot of dishonest intent. When employees make this type of theft, it’s with the assumption that you won’t catch them with a quick comparison of credit card transactions and register reports. ChainDrive’s Integrated Accounting software gives you the ability to do the kinds of audits you need to keep honesty as the best policy.
Automated Bank Reconciliation
One of the features of this retail-centric software solution is Automated Bank Reconciliation. This allows a complete drill-down functionality, right down to an individual invoice, if necessary. All the daily Point of Sale information can be posted to the General Ledger and everything can be cross-referenced–whether cash, debit, or credit card. Any discrepancies can be immediately addressed by cross-referencing and verifying any part of your financial data.
Along with this capability, the Integrated Accounting component allows you to do much more:
- Fully-integrated “Retail-Centric” Accounting Systems leveraging our centralized database
- Multi-company capability, including seamless inventory management and expense allocation
- Rules-based commissions and incentives engine that feeds to your payroll provider
- Payroll Service Integration
- Integrated invoice matching, including drill-down to PO detail
- Powerful Retail Financial System with reporting available at three grouping levels
- Tri-dimensional GL structure, providing accountability by account, store, and department
- Automated cash audit and bank reconciliation, with complete drill-down functionality
- Robust accounting information system
- Centralized lease management and rent invoicing, including future liability projections
These capabilities are standard with ChainDrive’s retail-centric Integrated Accounting solution, but the ability to customize your particular software suite means you can create the exact technological help you need to catch any discrepancies, and prevent loss.