Are you working for your business or for auditors? Account reconciliation along with supporting documentation and attachments is always required when accounts are audited. This often means a separate painstaking Excel exercise on top of everyday work, typically at a time of the month when it’s no longer possible to make changes to the month.
What if account reconciliation could be automated and take place when you choose and using the data you choose? Account Reconciliation helps you easily add comments and attachments to transactions and have account reconciliations approved in a workflow. You can specify priorities for different accounts and set limits for accounts to be automatically reconciled.
Create account reconciliations based on open transactions or the closing balance of an account. The open transactions of an account are included in the account reconciliation and you can match the rows you want with a single click. Matches are sent to SAP and a clearing document is generated there automatically. In addition, you can create manual journals from rows with a single click, for example, to correct a transaction in the account reconciliation. These are also recorded in SAP, depending on your workflow. If the account reconciliation is based on the closing balance, you can select and add the rows to be included. You can also specify a report run for the match and it will be automatically shown as an attachment.
Aico offers advanced integration with Oracle EBS. You can create account reconciliations based on account transactions or on the closing balance. Transaction-based account reconciliations include new, non-reversed transactions of an account from a certain month and the rows from the previous account reconciliation along with supporting documentation and attachments. You can create a manual voucher from selected rows with a single click to correct a transaction. It is entered into EBS based on your workflow. If the account reconciliation is based on the closing balance, you can select and add the rows you want to include. You can also define a report to be run for matching and it will be automatically included as an attachment.