Financial close: Balance sheet reconciliation and certification

Core Capabilities of ReconArt Software

  • Streamlined and centralized repository for reconciliations and supporting documentation

  • Fully auditable attestation approval workflow

  • Configurable templates for all kinds of accounts - GL, Ledger to Sub ledger, Bank, Pre-paid, Intercompany, and Rollup

  • Support for different calendars and notifications

  • Ready-to-go reconciliation and status reports

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Key Benefits of ReconArt Software

  • A single consolidated platform for enhanced financial control and detailed audit trail

  • Full automation of the period-end certification process saving time and effort

  • Simplified and streamlined process that increases the visibility of the progress

  • 100% web based

  • Quick integration of close data/information into and out of ReconArt


How ReconArt streamlines the reconciliation process?

ReconArt delivers robust functionality for workflow-based balance sheet account reconciliation and certification, which is offered both as an individual solution and as integral part of our Financial Close management platform. At its core, balance sheet reconciliation and certification is all about substantiation of account balances and overall demonstration of accountability in the organization when it comes to balance sheet reporting and close.

For years, some types of organizations, such as public companies and banks, have been mandated by specific accounting regulations to maintain compliant and auditable balance sheet reconciliation and close processes. Nowadays, all organizations are advised to do so, in order to expand their best practices in accounting and finance, increase their financial control and visibility, and streamline an otherwise disjointed and time-consuming processes. Traditionally, companies have addressed these needs by collaborating on spreadsheets and shared databases to track account amounts and approvals, reconcilement items, aging, and other period-end tasks. How complex and labor intensive this is depends on the organization and its size, entity and GL/subledger structure, and internal and external audit requirements.

Whether your goal is to drive SOX compliance or meet other similar regulatory requirements, or simply to automate and modernize your balance sheet reconciliation and close, ReconArt can help you achieve this. Our reconciliation software is fully configurable to work with any ERP and other data sources, all type of accounts, and flexible workflow requirements. Attestation policies, reconcilement entries, substantiation notes and attachments are all stored perpetually in a centralized, secure, and fully auditable solution. From a small team of up to 10 people, to hundreds of users across different geographies, there is virtually no limit on the scope that ReconArt can support in your financial close management process.

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Dedicated to Success

ReconArt is proud to receive the trust of our customers and we are dedicated to our mutual success. Here are some of the customers who leverage our reconciliation software to automate their reconciliation and close processes.

Calgary Co-op

Calgary Co-op is a member owned retailer operating food, pharmaceutical, petroleum, home health care, liquor, and cannabis outlets. Founded in 1956 in Calgary, Alberta, Canada.

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Fullerton Health

Fullerton Health Australia, est. 2013, is a group made up of a number of established businesses that have been delivering health services to more than five million people over the last 25 years.

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Banco Unico

Banco Unico, the fifth largest bank in Mozambique, has earned a reputation of an innovative, dynamic and client oriented financial institution

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