Questions/Answers
•
How
many sites are running this application ?
To
date, this application runs in over 40 sites cutting across different
sectors and the list is growing.
•
How
do I define reconciliation keywords ?
Defining the reconciliation keyword is very
flexible, the rule could be as stringent as the user wants and also
could be relaxed. It can be defined from the tools menu.
•
How does the software match entries ?
Clirec makes use of pre-defined criteria to
match entries and these include; the amount, unique reference, etc.
these criteria must be met for the application to match entries.
•
What security is available on the system ?
As a world-class application, Clirec comes with
standard securities features which include: user password, module
and resource restriction and full audit trail.
•
How do I create new accounts ?
Clirec is a user - oriented application, therefore
the process of creating new accounts is simplified and made easy.
This can be done on the tools menu as well as using the online help
facility.
•
Can I get graphical reports ?
Graphical reports are standard features on this
application. They are very useful for analysis and decision making
processes.
•
How does the system interface to my accounting/banking package ?
Given the necessary assistance by the clients,
Clirec is able to interface directly to any accounting or banking
application by querying the database (or by proxy) and extracting
the needed data for reconciliation.
•
How far back can I go during investigation ?
All the working papers of the exercise resides
on the application, therefore users can see the records of reconciliation
as far back as desired. Clirec stores all reconciliation records as
you move to subsequent months. It therefore makes it possible to have
several years' records on the system.
• Is there a report that reflects only machine assisted
matches ?
Yes, the software has machine assisted reports
as well as other fantastic reports e.g. Automatic matches, probable
matches etc.
•
Is there a specific format with which the application import data
?
Clirec comes standard with specified formats
for importing data, these are: text file format, excel file format.
It is also possible to use one or the combination of these formats.
•
Is the licensing per site or per user ?
The software licensing can either be per site,
per user or both.
•
Can the reports be customized?
Yes, Clirec is designed in way to allow for
customized reports as desired by users.
•
How long does it take to do the automatic matching?
The time taken depends on the number of transactions
at any given time. An average processing time for a 170,000 transaction
is less than 25 minutes.
•
Is it possible to do a search with several criteria ?
Yes, several criteria such as amount, age, narration
etc can be used for a search using one or combination of these criteria
and the result can be sorted in ascending as well as descending order.
•
What is the platform on which it works and how is the background like?
The backend runs on Microsoft SQL server and
the front end on Microsoft Visual Basic.
•
Can this software be used to reconcile our clearing account?
Yes, it can be used to reconcile any account
that is a financial reconciliation account.
•
How do I get help when I am stuck at a particular point ?
Clirec comes with online help on the software.
Besides that, you can make a call or go to our customer service center.
•
Must all the banks send their statements in a specific format or be
online to use this application ?
No, each bank statement format can be defined
and stored independently on the application. The banks need not be
online, so long as soft copies of the statements can be obtained.
As at today, all banks in Nigeria are capable of giving electronic
statements either through internet banking, PC Banking or diskette
exchange.
•
Is this application limited to bank accounts reconciliation?
No, Clirec is applicable to all reconcilable
financial transactions; internal accounts, stock trading transactions
etc.
•
How does the application reconcile our suspense accounts ?
By matching the entries on the credit side with
the debit.
•
What other feature can we get on Clirec?
Clirec comes with an added module- Finance Cost
Adjustments, which helps in re-calculating and authenticating bank
charges.
•
How does the system re-compute COT and other charges ?
It uses the COT rate history provided by the
user for the account and allows users to specify which debit entries
are not eligible for COT computation. It then computes the COT based
on rates supplied.
•
Is it possible for users to modify records of past reconciliation
exercises?
No, users cannot add, delete or modify past
records on the application, but can view series of transactions.
•
Have there been specific complaints from your existing clients?
No, they are happy, because we have been able to solve their reconciliation
problems.
•
Is the application specific to an industry?
No, Reconciliation is a uniform concept across
the industrial divide. Clirec will work in any industry.
•
Can I get a demo of this software?
Yes, the slide presentation of this application
is available on our website.
•
How are you able to deal with differences ?
There cannot be differences in Reconciliation
with Clirec.
•
Can you select an item and match with any item in the statement?
Before you can match, it must be arithmetically
correct.
•
Is it possible to use date as one of your criteria to match ?
Dates are not necessarily critical in automatic
matching of items when the amounts and references are the same
