The SARCI FIN-Drills solution for AP/AR Reconciliation automates and standardizes the matching process between two or more sources to produce high-quality and accurate financial statements.
It drives accuracy in the financial process by providing accountants with a streamlined method to verify the correctness and appropriateness of their balance sheets & similar reports. Accountants can quickly compare general ledger, bank, and other data, investigate discrepancies, and take required actions.
The advantage over current excel based methods or similar is that the solution acts on semi-structured statements (such as narrations) & further operates on pre-defined rules stored in templates, acts on a continuous basis over large data and can establish a verification trail.
Available in consultation with our Partner CA & ICS Firms
Given below is an Example Workflow of the parameters being used to perform a Reconciliation.
- Import transactions from any ERP / Data Source
- Automatic Time-Line Analysis with Aging
- Configurable certification thresholds
- Identify Differences & Check Balances
- Interest or Claims based on differentials
- Bank & Credit Card vs Expenses
- AP / AR Reconciliation
- Suspense / Deferred Accounts Reconciliation
- Intercompany Reconciliation incl. Loans / Advances
- Loans vs Payments