Performance Management

Account Reconciliations

Account reconciliation is a validation that the balance in the account is correct. Account balances are valid at a point in time, but business conditions keep changing. Companies face serious penalties for failing to reconcile.

What form does the validation take? Depends on the type of account. A senior accounting role ends up managing this process in Excel, most times the person is a CPA. Not a good use of their time!

Account Reconciliation is focused on the balance sheet, but it can be used for P&L Variance Analysis and Balance Sheet Variance Analysis, or even for alignment between the GL and Consolidation system, if required.

We have come up with a unique approach ensuring successful adoption of ARCS and addressing the challenges presented by this no. 1 Non-Data related challenge in the close process. We follow these steps which are keys to success

  • Know your company’s expectations.
  • Ensure that you understand the measures of success.
  • Design the application to meet those expectations.
Intellicore powered ARCS solution could automate 70-90% of high-volume reconciliations to allow accounting staff to focus on complex cases.
Support needs of Corporate Accounting in all industries for
  • Bank Accounts
  • Intercompany Accounts
  • Accounts Receivable
  • Accounts Payable
  • High Volume Accruals
Address industry-specific high-volume requirements
  • Banks: ATM / Fed Funds
  • Retail: Store Deposits / Credit Card
  • Insurance: Trade Settlement
Flexibility for daily and period-end matching and balancing

Request a Demo

Please enter your name.
Enter your valid email id.
Enter your valid contact number.
Please enter your organization name
Discover how Intellicore can help you improve performance with Business Analytics