GroupIT conveys big benefits for bpl’s bank reconciliations
bpl solicitors limited is a specialist legal practice with 95 staff based in Poundbury, Dorset. It offers in-depth advice to both business and private clients. Despite the challenging nature of the property market over recent years, bpl has continued to provide a comprehensive, user friendly service whilst retaining the traditional solicitor/client relationship. A key part of bpl’s service delivery is supported by investing in modern technology and communications.
The last twelve months have been reflected by increasing confidence in the property market. Managing the growing the number of client transactions efficiently is central to bpl’s business.
Kevin Cole, financial controller at bpl solicitors limited, explains:
“Robust financial management requires us to reconcile our bank accounts and client transactions on a daily basis. This has become increasingly important with the growth of internet banking and Faster Payments as we can receive funds at any time of day or night. Multiple payments, thirty six in one case, can be related to the same client purchase.
“We therefore need a system that can reconcile our accounts in a timely and accurate manner. We also require the ability to track payments and allocate them to the correct client account.”
bpl previously used a desktop reconciliation system but Kevin notes that it was, “a bit cumbersome, labour- intensive and required a lot of user input.” As a result, his team manually printed bank statements and ticked back all items daily with a complete bank reconciliation completed weekly. “We couldn’t do it any other way as the system took too long to use,” adds Kevin.
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