PayTraq Blog

A Cloud-based Business Suite

Direct Integration with Nordea Web Services

Starting today, all Nordea customers can take advantage of using an e-banking channel for automatic uploading of bank reports to PayTraq and receiving notifications about both incoming and outgoing payments.

With Nordea Web Services, you no longer need to enter your Online Banking to export your bank statement, all banking transactions are updated in PayTraq online.

The advantages of an e-banking channel include:

  • Eliminates the need to enter data manually, automatically uploads all banking operations to PayTraq
  • Improved speed and accuracy of the data entered
  • All operations in your bank accounts are updated in real time reflecting the current financial position of your business.

How to enable Nordea Web Services?

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Posted in accounting, updates, bank feeds, integrations

The Use of Matching Rules for Bank Reconciliation

Recently, we announced a new Automatic Bank Reconciliation feature available in PayTraq.

With Auto Reconciliation, you can easily match most of your statement lines from your uploaded bank statements just in one click.

Auto Reconciliation is available both for the manually uploaded bank transactions and automatic bank feeds. It saves users a lot of time, while making the process quick, reducing the manual effort and improving accuracy.

As of now you can create your own custom bank reconciliation rules to match even more transactions automatically. These are additional rules that can be set up for automatic reconciliation of those bank transactions for which no matching primary documents or journals have been found. Such transactions include bank fees, money transfers, tax payments, transfers from a merchant account, loan payments, etc.

The bank statement line description may contain certain values that help you identify the transaction. You can use part of this

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Posted in updates, bank feeds, accounting, PayTraq features

Direct Integration with Swedbank Gateway

Starting today, all Swedbank customers can take advantage of using an e-banking channel for automatic uploading of bank statements to PayTraq and receiving notifications about both incoming and outgoing payments.

Electronic banking channels, also known as bank feeds, are becoming increasingly popular offering the benefits of fully automated banking operations for accounting. With bank feeds, you can say goodbye to time-consuming manual operations and out-of-date method of exporting bank statements from Online Banking with their subsequent importation into the accounting system.

By integrating with Swedbank, we are opening a new direction in extending the functionality of PayTraq which is aimed, as always, at automation of your business processes and improving efficiency due to time savings and improved accuracy of the data entered.

With Swedbank Gateway, you no longer need to enter your Online Banking to export your bank statement and check your balance. Your current bank balance is now available

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Posted in accounting, updates, bank feeds, integrations