Primary Applications>Accounts Reconciliation

The SILVERLAKE Account Reconciliation application allows you to offer reconciliation services for demand deposit accounts. Typically, this feature is used in balancing your institution’s internal accounts such as official checks and money orders and also to provide larger commercial customers with reconciliation services.

The application is based on the ability of the owner of the account to provide you with a file of checks and deposits which have been issued. This transaction file can be captured as it would be for official checks, provided on magnetic media, or transmitted to the system. These issued items are incorporated into your database. As items are presented for payment, the corresponding issued items are marked as reconciled. An account reconciliation statement can be produced at the same time as the regular statement for the account. The reconciliation statement provides information concerning items reconciled during the statement period, items which remain outstanding and items which were paid but not listed as issued.