reconciliation

Automated bank reconciliation compares general ledger balances directly against bank statements to identify discrepancies. This process categorizes reconciliation items based on timing differences, adjustments required, and items needing investigation, significantly reducing manual effort.

GL to subledger reconciliation verifies general ledger balances against subledgers or third-party data. Automated item categorization classifies discrepancies by timing differences, required adjustments, and items needing investigation to streamline account reconciliation processes.

Intercompany reconciliation is fully supported alongside bank and GL reconciliations. The process includes aging analysis that tracks the age of outstanding items to identify stale items requiring escalation based on predefined risk tolerance thresholds.

Account reconciliation defines triggers for escalating issues based on the organization's risk tolerance. By tracking the age of outstanding items through aging analysis, stale items are identified and escalated automatically when they cross defined thresholds.

Automated account reconciliation requires robust error handling and validation to ensure accuracy and security. This ensures that discrepancies between general ledgers, subledgers, bank statements, and third-party data are processed reliably without compromising financial data.