Understanding Managing Fees and Account Analysis
With the Account Analysis feature, you can configure fee codes and fee structures for use in bank fee comparisons and statement analyses.
Account analysis enables you to define how bank fees are calculated for your enterprise and organizes them into fee structures. A fee structure enables you to group, in one place, all the fees that a particular bank charges. You can use fee types that match the standards documented in Treasury Management Association (TMA) Guide to Account Analysis and Service Codes, published by the Association for Financial Professionals (AFP). Examples of fee types are tiered pricing, base fee, and minimum/maximum fees.
By defining and analyzing the data, you can reduce your fee expenses in two ways:
Comparing fees for up to five banks, and determining which bank has the best fee structure for your requirements.
Catching bank charge errors by comparing an EDI 822 Account Analysis bank statement against the data.
Bank account fee analysis includes creating fee codes and grouping fee codes into fee structures. You can then compare fees for up to five banks to determine which bank has the best fee structure and catch bank charge errors with bank statement analysis
