reconciliation

Bank reconciliation is automated by comparing your GL cash balance to bank statement data to identify outstanding checks, deposits in transit, and recording errors. The process requires detailed transaction data and account balances to perform accurate variance analysis.

GL-to-subledger reconciliation compares general ledger balances against subledger records to pinpoint timing differences and unrecorded transactions. It categorizes reconciling items by analyzing detailed transaction data from both sources to ensure financial accuracy.

Intercompany reconciliation is supported alongside bank and GL-to-subledger reconciliations. It compares transaction data between related entities to identify and categorize discrepancies, requiring detailed transaction records from all participating accounts for accurate variance analysis.

Account reconciliation requires detailed transaction data and account balances from your GL, subledgers, bank statements, or third-party sources. Accurate comparison and variance analysis depend on having complete financial records for the period being reconciled.

Discrepancy identification works by comparing matched financial records to flag timing differences, recording errors, or unrecorded transactions. It categorizes these reconciling items based on variance analysis between the GL and external data sources like bank statements.

Reconciliation variances occur due to timing differences, recording errors, or unrecorded transactions between the bank statement and GL. Comparing detailed transaction data from both sources categorizes these reconciling items for resolution.