There are companies that have many bank accounts and may some of them be used for specific purposes such as payroll and payments. RecXpress is an add-on module to Sage 300 accounting system that performs 2 distinctive tasks; it can take an electronic bank statement (like the ones downloaded from the internet banking of any bank) and firstly generate these transactions in either Accounts Payable, Accounts Receivable or Bank services and secondly automatically reconcile the bank. The system will pick the amount from the statement and identify the transaction type. From then on, it will create the appropriate entry in Sage 300. At the end of the process, it will give the chance to the user to review the generated transactions and also make a decision on transactions that have not been identified.
These are both great features as they make life easier for the staff, avoid mistakes and save many work hours.