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DemoCentre: A guide to buying Account Reconciliation software
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About DemoCentre:
DemoCentre provides a tailor-made experience to discover, compare and select the best financial reporting software on the market, including Solvency II solutions. This includes:
- Providing a stress-free search
- Arranging and facilitating demos from market leading Disclosure Management vendors
- No sales, no commission selling, no hassle.
Our services don't stop there, we provide you with a free RFP pack to help select your perfect software partner when you use our service. In addition, we can offer a range of premium services to manage the entire software selection process for you.
- Account Reconciliations
- Consolidation
- IFRS 16
- Planning
Contact one of our product experts to begin your free DemoCentre experience today.
--
Head over to DemoCentre to compare the best Account Reconciliation Software solutions on the market, including:
- Adra,
- Blackline,
- CCH Tagetik
--
About Reconciliation Software
What are Account Reconciliations?
When referring to Account Reconciliations, we’re really talking about two related categories: balance sheet reconciliations and transaction matching.
Balance Sheet Reconciliations
Balance sheet reconciliations are a key accounting control governing the integrity of the financial and management accounts. They provide comfort over the existence, accuracy and completeness of the balance sheet, which in turn reduces the risk of adjustments being required to the profit and loss account.
At period/month ends, balance sheet accounts are analysed into a definitive list of items which are then substantiated (including reconciling to secondary sources wherever possible) and reviewed for their reasonableness.
Transaction Matching
Transaction matching is a core business process that enables accounts incurring a high velocity and volume of transactions to be managed efficiently, and on a timely basis. Accounts such as bank accounts, Intercompany trading accounts, accounts receivable and accounts payable require regular, often daily, matching to ensure that business activities are processed accurately and quickly whilst also preventing a build-up of issues at the month end.
DemoCentre provides a tailor-made experience to discover, compare and select the best financial reporting software on the market, including Solvency II solutions. This includes:
- Providing a stress-free search
- Arranging and facilitating demos from market leading Disclosure Management vendors
- No sales, no commission selling, no hassle.
Our services don't stop there, we provide you with a free RFP pack to help select your perfect software partner when you use our service. In addition, we can offer a range of premium services to manage the entire software selection process for you.
- Account Reconciliations
- Consolidation
- IFRS 16
- Planning
Contact one of our product experts to begin your free DemoCentre experience today.
--
Head over to DemoCentre to compare the best Account Reconciliation Software solutions on the market, including:
- Adra,
- Blackline,
- CCH Tagetik
--
About Reconciliation Software
What are Account Reconciliations?
When referring to Account Reconciliations, we’re really talking about two related categories: balance sheet reconciliations and transaction matching.
Balance Sheet Reconciliations
Balance sheet reconciliations are a key accounting control governing the integrity of the financial and management accounts. They provide comfort over the existence, accuracy and completeness of the balance sheet, which in turn reduces the risk of adjustments being required to the profit and loss account.
At period/month ends, balance sheet accounts are analysed into a definitive list of items which are then substantiated (including reconciling to secondary sources wherever possible) and reviewed for their reasonableness.
Transaction Matching
Transaction matching is a core business process that enables accounts incurring a high velocity and volume of transactions to be managed efficiently, and on a timely basis. Accounts such as bank accounts, Intercompany trading accounts, accounts receivable and accounts payable require regular, often daily, matching to ensure that business activities are processed accurately and quickly whilst also preventing a build-up of issues at the month end.
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