main image

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

Enhanced Control: Journal Entries

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

Enhanced Control: Journal Entries

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.

read more

ReconArt Customer Success Stories

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.

Progressive Credit Kenya: automation of daily bank reconciliations in the microfinance business
Progressive Credit Kenya: automation of daily bank reconciliations in the microfinance business

Progressive Credit is a microfinance organization founded in 2011. The company operates in 27 branches across Kenya with the mission to design innovative credit product tailored for consumers & SME.

read more
1-800-PACK-RAT: bank reconciliation with ReconArt
1-800-PACK-RAT: bank reconciliation with ReconArt

1-800-PACK-RAT is an industry leader in portable storage and moving, who provides US customers and businesses with solutions for on-site storage, warehouse storage, local or long-distance moving.

read more

RedCloud, HQ in the UK, has developed a digital ecosystem for order & inventory management, cashless payments, customer engagement. The platform is leveraged by small & local FMCG businesses globally.

read more

Let's Talk

We welcome the opportunity to explore your needs and introduce you to our solution.

Let us know you have interest
What to expect from us
  • check iconQuick response
  • check iconCollaborative discovery
  • check iconTransparency and openness
  • check iconClear next steps