The BAI2 format is a cash management balance reporting specification developed by the BAI (Bank Administration Institute). It is an end of day statement file consisting of all transactions for a specified time frame.

Benefits of the Electronic Reconcile Module

The electronic reconcile module allows you to track transactions and balances for all of your bank accounts. Reconciliations prevent mistakes and ensure you always know your banking position.

• Pull transactions directly into your system from the bank, and automate data entry
• Make sure your transactions in both your Bank and ERP systems are accurate
• Ensure you are tracking fees and interest transactions
• Monitoring transactions can help prevent fraudulent activity and ensure that all transactions are genuine