Current Challenges

  • Ensuring all accounts are being reconciled
  • Ensuring Reconciliation is proper and complete so that the balance used for financial reporting is accurate.
  • Maintaining evidence and justification that reconciliation is performed periodically
  • Using Roll-forwards improperly
  • Identifying fraudulent improper and excessively aged transactions
  • Failure in Internal controls causing unwanted expenses.
  • Balance sheet inaccuracies leading to additional legal and audit fees
  • Removes the risk of data entry errors, duplicate entries and overlooked transactions

Our Solutions

Transaction system

  • Offer a predefined template to upload all the transaction by type into specified accounts and track them
  • Collection, modification and retrieval of all transaction data are enabled through a single system
Transaction System

Sub-ledger / Account level Reconciliation

  • Prepare for reconciliation aligning with the account use and its role in balance support
  • Reconcile at transaction level and create exceptions or closure reports
  • Provisions to add journal entries for missed transactions
  • Perform sub ledger reconciliation periodically (monthly/quarterly) and create year to date review reports
 Account level Reconciliation

General ledger Reconciliation

  • Quickly perform high-volume transaction matching and rapidly enhance the accuracy and regulatory compliance of all resulting financial statements
  • Account level reconciliation to ensure accuracy and completeness
  • Templates and checklists can be built based on internal policies to standardize the process
  • Errors detected in the account balance are handled by documenting the reconciling items explaining the differences, actions to be taken to solve the differences and supporting documents if any.
General ledger Reconciliation

Data Assurance

  • All documents required for audit are categorized and archived with timestamps for easy retrieval
  • Read only access to Auditors to help fetch the documents they require eliminating the need to provide supporting documentation separately
 Data Assurance

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