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Statement loading & automated bank reconciliation for Unit4 Financials 

Most businesses that use Unit4 Financials (and its previous incarnation as CODA) will at some point have found the core system’s bank statement loading facility a source of frustration. While perfectly functional, for a recurring task the process could be considered slightly slow and clunky. This was also a system process where the team at LEVEL8 identified potential for refinements aimed at improving both efficiency and user-friendliness.

Working with our clients to develop and deliver a solution to this issue, we launched our Statement Management System (SMS) for Unit4 Financials which introduces high levels of automation to the statement loading and bank reconciliation processes in the system. All controlled and administered from LEVEL8’s own simple to use cloud-based portal. 

Highlights of SMS Statement Loading for Unit4 Financials

> Loads user defined, CAMT 053, BAI2 and MT940 files to the books or statement tables

> Intelligent mapping engine for pre-matching

> You can adjust mappings over time to drive match rates up

> Automates multiple matching runs

> Uses sophisticated mapping and posting to highlight statement transactions not automatically matched

> You can use browse balances to check opening and closing statement balances.

Key  Software Benefits

> Save effort through and increase efficiency by: Using the mapping to identify and automate inter-company posts; Manually starting statement load and match, or scheduling to run offline; Automating CODA product matching.

> Improve data integrity by loading statements to ledger.

> Achieve high match rates – over 80% – verified by our clients

> Automatically match – using CODA core functionality via APIs

> Encourage best practice for reconciliations and quickly identify discrepancies between operational and finance systems that require urgent investigation

> Ability to read multi-format statements

> By using complex statement formats you can drive higher matching rates.

What Our Clients Say About SMS

“This software saves over 25 days effort every month, and has driven match rates to over 80%.”

“Not only does the Statement automation software save us time every day, it has helped us build better business processes for the team – helping us make efficiencies elsewhere.” 


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