Data Feeds

10.2.8 Bank Data Feeds – Allocating to Suspense Accounts

For transactions you are unable to allocate due to having insufficient data available, Mclowd provides three Suspense Account options.

Allocating to a Suspense Account ensures that bank reports are up to date and accurate and bank reconciliations can be performed easily.

When data is received to enable correct allocation of a transaction, Mclowd enables you to easily view and select transactions you have allocated to Suspense Accounts in order to move them from Suspense to the correct account.

 



about the author:

Lorraine Cobcroft

With a background in accounting and financial management, followed by two decades writing software documentation, Lorraine joined the Mclowd team in mid-2016 and is enjoying working with a dynamic team to enhance an innovative product that has the potential to revolutionize the way Australians manage their retirement funding.
Lorraine is also an accomplished business writer, ghost-writer, novelist and short-story writer and poet.

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