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Hi, This is pretty cool. Incoming cash into bank accounts is super hard to manage and we are looking for some help here. Do you handle situations where "postin
by sandGorgon 9y ago
Hi,
This is pretty cool. Incoming cash into bank accounts is super hard to manage and we are looking for some help here.
Do you handle situations where "posting" of a transaction happens later than the date it is actually meant to. Some banks will then insert it in the middle (they don't treat it as an append only log) and that breaks the whole reconciliation. Things like transactional balance(for each line item) starts screwing up.
We were talking to RBL about it, but if you handle this, we are happy to talk to you guys.
Also wanted to reiterate that this a cash deposit issue. If it is electronic already, there's no big issues... But a lot of India is still cash.
- akashindya 9y agoWe display incoming transactions at our dashboard in the order of their receipt. Not sure what logic banks use to insert new transaction in the middle of statement log. It doesn't happen with our AutoCollect(NEFT re-conciliation) product. We will set up a demo account for you and let you try it for multiple transactions. Do share your email or drop a note to us at care@gocashfree.com. Thanks!
- sandGorgon 9y agoMy email is in my profile (or in Bookface). This is actually the single biggest issue in cash reconciliation. If this is something your banking partner and you can solve, we would love to hear more. FYI - all ecommerce companies in India have this issue. Usually they have to jump a lot of hoops with banks to make it work.
- akashindya 9y agoSure. We'd get in touch with you soon.