Ideas for the Mambu Banking Engine

Check clearing module

How:

A module for keeping track of transactions “in transit”.
Usually:
- Checks for payments
- Checks for disbursement
- Mobile payments in transit
- Remittance receipts not yet withdrawn
If a payment is made with the above, the payment is set as paid, but with a suspension GL account.
These payments will end up in the “suspense module”
Once the payment has been seen in the bank, it will be marked in the suspense module as cleared and a JE will CR/DB the suspense GL account to the correct GL account.

This is today done manually but it is sometimes hard to reconcile the transactions when there are many outstanding checks.

 

Why:

Simplify the clearing of outstanding checks and simplify the reconciliation process.

  • Richard Axelsson
  • Sep 12 2016
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