Bank to Book Automation

Gain Full Visibility Into Your Transactions

Log in to bank portals daily to download and read bank statements and record transactions right in Yardi, MRI, and leading ERP systems. Our solution eliminates the manual hassle of reconciling bank statements and recording transactions, reducing the risk of errors and saving you valuable time. With this automated process, you can ensure that your financial records are always accurate and current, providing you with real-time insights into your transactions.

Optimize Cash Flow Management with Automated Bank-to-Book Solutions

REdirect has helped many property management companies create a much cleaner and clearer vision of their cash flow by automating their daily bank-to-book tasks. Our automation can fetch transactions from the bank or from a file. Our bot will enter your transactions using the rules that perfectly match our clients’ accounting practices (AR, AP, GL). Our bot will then request a review from one of your staff or post the batch autonomously, sending a full report on its work. This enhanced visibility allows you to make more informed financial decisions, improve cash flow management, and maintain better overall financial health. Empower your organization with the tools to monitor and manage transactions effortlessly, ensuring compliance and fostering financial confidence.

Transform your workflows with automation

LEARN MORE

Bank to Book Automation Blog Articles

Yardi 7S Reporting: Advanced Strategies for Analytics, YSR, and Automated Distribution

by REdirect Consulting

Common Challenges of Implementing Robotic Process Automation in Real Estate

by REdirect Consulting

How RPA Can Improve Compliance and Reduce Risk in Real Estate

by REdirect Consulting

Automating Bank Reconciliations With Robotic Process Automation

by Jason Schedler

Bank to Book Automation Videos

RPA For Btr®

by REdirect Consulting

Automating Bank Recs, Report Distribution, Testing, And More®

by REdirect Consulting

FAQs

Q.

How does the bank to book automation process work?

A.

The process typically begins with a software bot that automatically logs into bank portals to download statements or receives them via a secure file transfer. This bot then applies predefined rules to match bank transactions in order to create  entries in the company's accounting system or ERP, such as Yardi or MRI. It can load them as unposted entries to the general ledger.

Q.

What are the main business outcomes of automating the bank to book process?

A.

The most significant outcomes are increased efficiency, improved accuracy, and real-time financial visibility. By eliminating manual data entry, automation dramatically reduces the risk of human error and frees up accounting teams to focus on higher-value analysis rather than repetitive tasks. This leads to faster month-end closes and gives managers a current, accurate view of their cash position for better decision-making.

Q.

Can bank to book automation integrate with common real estate ERP systems?

A.

Yes, bank to book automation solutions are often designed to integrate seamlessly with leading real estate ERP systems like Yardi and MRI. The automation bots can be configured to access these platforms to pull accounting data and post reconciled transactions directly into the general ledger. This integration is key to creating a streamlined, end-to-end workflow that eliminates manual data entry between the bank and the core accounting system.

Q.

How can a technology consulting firm improve a bank to book automation strategy?

A.

Engaging a specialized consulting firm like REdirect Consulting ensures that the automation is tailored to your specific operational needs and accounting practices. An expert partner can help design and implement the system to integrate flawlessly with your existing real estate platforms, such as Yardi or MRI. Their guidance helps configure the matching rules and exception workflows correctly, ensuring your team achieves maximum efficiency, accuracy, and clearer visibility into your cash flow.