Dear Experts,
Bank feeds is an essential tool in today's accounting industry. This is a process whereby a client will synchronize his or her actual bank account with the bank account in SAP and transactions are fed to the system automatically or at the push of a button(manually). This reduces time spent on reconciliation and payment/receipts.
At an average each financial controller spend 2 to 6 hours on bank reconciliation every month but bank feeds will reduce the time spent on reconciliation by 80%. SAP is a renowned entity so there will be no risk to the client on synchronization of both accounts.
Any ideas if this is possible on By Design or in R3 or why we do not have this facility on SAP.
Please feel free to ask questions or add your views.
Yours sincerely,
Emeka Ikwukeme, CPA