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What is RecWise?

To begin a reconciliation process, one should first compare the closing balance of the General Ledger with the sub-ledger and other relevant documents, including bank statements or records from third parties. Any inconsistencies found between these sources must be carefully examined, quantified, and rectified when possible through appropriate adjustments in either the general ledger or sub-ledger. It is also crucial to record any discrepancies as reconciling items to ensure transparency in the process. Ultimately, the balances should correspond precisely and be backed by all relevant documentation associated with the reconciliation effort. The review phase is vital for validating the thoroughness of the reconciliation, and adding an extra layer of approval can further bolster confidence in its correctness. Additionally, creating a solid framework alongside a standardized procedure can greatly enhance the efficiency and streamlining of the reconciliation process at the end of each month. This practice not only promotes uniformity but also helps in early detection of potential issues within the cycle. By implementing such measures, organizations can ensure a more reliable financial reporting process moving forward.

What is Penguin?

This all-encompassing travel agency software solution provides multilingual capabilities for generating quotes and invoices, alongside comprehensive documentation such as receipts, e-tickets, confirmations, and vouchers. Additionally, it features a General Ledger-based Budget Module, integrates seamlessly with third-party XML/web services, and connects effortlessly with payment gateways including Sage Pay, Worldpay, Wirecard, and Mpesa, complete with automatic reconciliation. The platform also incorporates modules for staff commissions, sliding and affiliate commissions, and utilizes AI for automatic reconciliation with IATA BSP, all while supporting multi-branch accounting and various business areas, including B2B/Agent Management and integrations with BedBank and suppliers. Moreover, it facilitates booking retrieval through third-party connections with all GDS and NDC systems, and includes functionalities for automatic creation and cancellation of bookings, processing refunds and voids, conducting bank reconciliations, and uploading GL data via Excel. Users can also schedule reports, manage hotel inventory uploads and bookings, generate ABTA reports, revalue currencies, and create FIT/group packages, making it a robust choice for travel agencies seeking efficiency and integration. Ultimately, this solution is designed to streamline operations and enhance the overall travel booking experience.

Media

Media

No images available

Integrations Supported

Additional information not provided

Integrations Supported

Additional information not provided

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

£350/month - 5 Users
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

RecWise

Date Founded

2017

Company Location

Australia

Company Website

www.recwise.com

Company Facts

Organization Name

Penguin Commercial Limited

Date Founded

1998

Company Location

United Kingdom

Company Website

www.penguininc.com

Categories and Features

Audit

Alerts / Notifications
Audit Planning
Compliance Management
Dashboard
Exceptions Management
Forms Management
Issue Management
Mobile Access
Multi-Year Planning
Risk Assessment
Workflow Management

Categories and Features

Travel Agency

Central Reservation System
Customer Database
Flight Booking
GDS / OTA Integration
Itinerary Creation
Marketing Management
Payment Processing
Promotions Management
Quote Management
Rental Car Reservations
Single / Group Reservations

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