Auto Reconciliation

This event will download bank account transactions (BAI), which can include posted deposits and checks.  VMSQueue attempts to match the transaction information against unreconciled journal entries.  A matched transaction is cleared and will be "checked" during the final reconciliation.  The user configuring the Auto Reconciliation task will receive an email from VMSQueue if AP checks have cleared the bank, but are not found in the general ledger or if there is a variance to the posted check amount.

Note: It is recommend that the defined task be set to process monthly on the 2nd day of each month.

Document Download

This event will download files from the Bank's system and place them into the VMSData\Bank folder.  Files can include statements, check images, lockbox reports, etc.

Lockbox Download

This event will download the nightly lockbox payment file from the bank and place it into the Import folder for processing.  A subsequent task can be defined to process the payment file after the download.  VMS will create a PDF posting report for each property and add them as AR Adjustment reports available through iXpert

Report Upload

Every participating bank partner needs the resident contact information stored in VMS to manage received lockbox payments.  Many banks refer to the required file as the Validation file.  VMS has several predefined report templates designed specifically for each bank partner, which can be defined in the Report Upload task.