Bank Statement Reconciliation vs Match Bank Tape Reconciliation
Our company would like to bring more automation into the bank reconciliation process. I have found two documents, doc 664694.1 is titled "Overview of Match Bank Tape Reconciliation" and doc 1456468.1 is titled "Overview of Automatic Bank Statement Reconciliation".
I would like to confirm that the appropriate applications to use depends on whether the bank provides us with information via a bank tape or electronically via flat files. Is this correct?
Will both processes "reconcile" AP checks once they have cleared the bank?
Which of these two processes is preferred by users?
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