Banking
The Banking module in ERPNext streamlines the management of all banking operations in the accounting module. To ensure precise transaction mapping, users can create and manage multiple bank and bank account records that are directly connected to the chart of accounts. The Bank Clearance feature makes it simple to monitor uncleared checks and perform routine operations like deposits, withdrawals, and fund transfers.
The Bank Transaction doctype enables importing and capturing transactions directly from electronic bank statements. The transactions are subsequently reconciled against ERPNext records using the Bank Reconciliation Tool, which facilitates manual as well as automatic reconciliation. Bank Reconciliation Statement avails a thorough comparison between the company's book balance and the real bank balance, with pending items being highlighted. Moreover, companies can maintain Bank Guarantees as well as utilize Invoice Discounting to cover advances and bank financing.
All these features collectively constitute ERPNext Banking as a centralized and dependable system for recording correct, real-time financial information.