Any number of different reconciliation types or “products” can be defined and managed within a single central database, e.g. cash to bank, suspense/control accounts, static data, securities/positional, etc.

All reconciliations benefit from GroupIT’s innovative transaction display screen which supports a range of functions such as a highly flexible search and filter function, user-definable columns, multi-level grouping, sorting and totalling; the ability to apply user-definable colour-codes to transactions and the ability to define and save “views”.

GroupIT maintains one database within which all data is stored and all actions are fully audited with optional “four-eyes” authorisation.  The flexible database allows the definition of any number of fields and field types for holding data.

Any number of matching rules can be defined by authorised users and use any field, combinations of fields or parts of fields.  Any rule can be applied to any account as often as required.

Users can be restricted to particular functions and facilities and also granted full or partial administration privileges to perform actions such as maintain accounts, define matching rules and enter lookup data.  Accounts can be placed into groups to ease loading data and setting permissions.

GroupIT allows data to be written to other systems using either files or database links, for example updating a source system with a “reconciliation status” indicator or generating journals for posting into an accounts system.