Case for Automation
Repetitive tasks such as manual transaction matching can cost accounting team members hours of valuable work time.
This is especially the case when they are using slow-performing legacy systems or encounter duplicate data.
- Detects discrepancies between a company’s bank statements stored in relevant folders and bank statements supplied by the bank
- Reconciles data that appears on a company’s balance sheet in a general ledger accounts system with details that form these balances in accounting systems
- Reconciles external supplier accounts
- Reconciles internal balance details
- Identifies accounts that do not match
- Creates reconciliation reports
- Emails stakeholders’ notifications when reconciliation tasks are complete