Embracing a new software often leads to a myriad of questions.
Answered by Kalev Kalamäe, Founder of Sysynkt, and Penny Phillips, Customer Success Executive at Touchstone, and asked by SunSystems users at our recent event, this Sysynkt Banking FAQs blog’s goal is to answer your questions about the ground-breaking automation for SunSystems platform.
When posting from the bank, can transactions be posted via “prepayment” accounts into future periods?
Yes. We can make those splits at the push of a button where you choose the number of future periods to spread the payment over.
With so many banks, is there a search function to make that process quicker rather than endlessly scrolling?
There are over 2000 banks available which are divided into subsets. When you log in, you will just see one of those subsets depending on your bank which is usually who you bank with plus one or two extra. Setting up your bank accounts is an initial task as part of your system configuration and implementation carried out by the Touchstone team so is not something you would need to do on a regular basis.
Does Sysynkt Banking work with US Banks?
If the bank provides connectivity via Open Banking, then yes. If not, we can prepare a file for transfer via SFTP.
Is there any reporting or other dashboard functionality that can be used to capture remittance send exceptions? For example, an invalid email address would trigger an action to re-send?
There is a widget within the Sysynkt Banking module that allows you to see the mailbox(es) linked to Sysynkt. Assuming you use one of these as the send mailbox, you will be able to see the rejections in there. In terms of roadmap, there is a dashboard currently in design that will allow you to monitor the success, or otherwise, of the email that was sent and we hope to release this feature soon.
Can bank access be restricted by user to different accounts?
Yes
Do large scale payment runs hit the bank as a single transaction or multiple transactions?
This depends on whether you choose to make a bulk payment, or single payments. What is available in Open Banking is dependent on your bank and the service that they provide. A bulk payment would post a single line to the bank.
Can I create a workflow for bank reconciliation?
Yes as there is a bank reconciliation workflow.
How can I learn more about Automation for SunSystems?
We have plenty of resources on Automation for SunSystems, powered by Sysynkt available on our website where you’ll find informative datasheets for each module, along with on-demand webinars on topics such as Sysynkt Purchasing & AP Automation and Sysynkt Bank Reconciliation for you to explore at your convenience.
Want a chance to see Sysynkt live in action? Watch our recent webinar for an exclusive demonstration of the Sysynkt Purchasing and Sysynkt Banking modules or sign up for our upcoming webinar: Automate and Improve your Expenses Claim Process with Sysynkt scheduled for Wednesday 28th February at 10 AM.
Alternatively, why not schedule a demonstration of Sysynkt with one of our experts and see how the Automation for SunSystems platform can benefit your business?
Request a demonstration of Automation for SunSystems, powered by Sysynkt
