Enhanced Control: Journal Entries

Core Capabilities of ReconArt Software

  • Ensure that all JEs (Journal Entries) posting to the GL are correct

  • Configure approval workflows based on amount thresholds for different risk levels

  • Set up as many approvers as needed

  • Ensure double-entry posting back to any ERP

  • Ensure controlled and audit-proof JE posting process

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Key Benefits of ReconArt Software

  • Business users are self-sufficient in working with the system

  • Increased operational efficiency

  • Seamless integration with ERPs, internal systems and platforms

  • 100% web based

  • Increased visibility to progress and issues, flexibility and scalability


How ReconArt streamlines the reconciliation process?

A regular reconciliation process often highlights the need for the creation of specific entries to the GL. Most often, these journal entries are legitimate exceptions (versus timing delays that will resolve on their own within a few days) which have not been logged to the GL and thus were not “expected” by the business. It is important that the JE posting process be controlled by accounting and finance teams to ensure that the entries are indeed correct, that the appropriate manager has approved them, and that they are actually posting to the correct account.

Unfortunately, most ERPs and GL systems don’t provide for a documented and comprehensive approval workflow around JE posting. Typically, all that is required from the business is a flat file in a specific format that can be ingested by the system of record. However, there is no guarantee that the entries contained are accurate or have been approved appropriately.

In order to support best practice and driven by customer demand, ReconArt solution has been enhanced with a fully configurable and audit-proof workflow around Journal Entry postings that result from the reconciliation process. ReconArt software allows you to automatically collect these items, push them through an approval flow based on their amount threshold, and prepare them for automatic posting to any ERP, General Ledger or other downstream system. Additionally, we expanded even further on this functionality, adding the ability to generate JEs not just from exception transactions, but also from matched items, or even from items that are not part of the reconciliation process itself.

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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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