Intercompany Reconciliation

Intercompany Reconciliation
  • Compare and reconcile intercompany activity and trading
  • Support for multiple GL, subledger, and external data sources
  • Set up automated rules to match transactions and label exceptions
  • Ensure timely and accurate resolution of exceptions
  • Support a fully audited, streamlined and compliant process

ReconArt™ solution is designed in a way that can fully support the complex needs that arise when reconciling balances and transactions between and among different trading entities within the same parent organization. It ensures that both balance and transaction level data are properly reconciled, providing for the accuracy of reported financial statements at period end.

The simple yet powerful exception management functionality within ReconArt™ ensures and enforces a streamlined and consistent workflow for the review and resolution of issues. Where discrepancies exist, they can be identified, addressed, approved and appropriately reflected in the ledgers of one or more entities in the form of journal entries. The whole process is automated: imports can be made from multiple sources and formats, data can be normalized and enriched and that adds a great amount of speed and efficiency. Healthy intercompany reconciliation avoids regulatory and statutory exposure by addressing those requirements supported by best practices. Transparency and auditability is guaranteed. ReconArt™ software provides a complete audit trail of how intercompany activity is recorded in all base systems and in the consolidated financial statements of the parent or holding company.

Challenges of Intercompany Reconciliation
  • Great amount of effort and manual work
  • Accuracy of the data processed
  • High volume of complex intercompany transactions
  • Huge time pressure at period-end
  • Distributed data sources, multiple systems, formats, currencies and exchange rates
  • Audit readiness at every level, any time

ReconArt Customers

Here are some of our customers who leverage ReconArt to support their reconciliation and close processes.

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

What to expect from us
  • Quick response
  • Collaborative discovery
  • Transparency and openness
  • Clear next steps
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