Is it possible to view flat numbers along with the transaction description in our bank statement?

Payouts related to online collection from our payment gateway account to society account will carry the first two digits of the building name, flat number and receipt number in the transaction narration. However, we have noticed that some of the banks don’t show the narration that we are passing via NEFT transfers. In such scenarios, accountants will have to cross-check the UTR number available in the bank statement with the reports available in the MyGate admin dashboard. (For eg: Dues Collection Report, Bank Reconciliation and Cash Bank Statement)

Since we don’t have control over the format the banks follow in displaying transactions in their statement, we would request you get in touch with your bank and get the detailed statement including the narration received against each transaction.

Since the idea of cross-checking UTR is for reconciling bank balances, we recommend using our Automatic bank reconciliation feature. This feature will help you in uploading the bank statement directly to the bank reconciliation module in MyGate. The system will identify the transactions with matching UTR numbers, Amounts, Dates etc and will automatically add the value date (Bank Date) in the MyGate system and provide a summary of the same. This will effectively reduce the effort in verifying the transactions one by one manually.