Reconcil@ allows the automatic reconciliation of sets of data – whether this is a Supplier Statement, Remittance or Intercompany. We capture the data from a Ledger Report out of your accounts system and if we get your main suppliers to e-mail either Spreadsheets/Text files/PDF, Word or Tiff statements this will then allow us to capture the details and automatically reconcile them. Alternatively, we can deal with the majority of paper statements. This gives us maximum flexibility to deal with a vast variety of file types / formats and extract the information that is relevant. Reconciliations can be done as a single or batch process to maximise time saved.
Example Benefits from a Reconcil@ project
Summary on the reconciled report produced:
Once the reconciliation is complete the information is merged into one report and indexed into various types of matches/mismatches.
‘Discrepancies:’ contains side by side, any transaction lines that have the correct reference although the amounts or dates have differences.
‘Invoices on supplier statement only:’ shows any transactions that are just on the supplier statement and do not match against the Purchase Ledger.
‘Invoices on Accounts Ledger only:’ is the opposite to the above and are any transactions that do not match against the supplier statement.
‘Matches on both systems’ show side by side all the transactions that exactly match against each other.
From this basic report we can customise the end results to meet your requirements. For example, splitting Perfect Matches into Open, Held & Paid. We can get the best value out of the reconciliations without your team having to spend valuable time getting the results.