Reconciliations Solutions

Reconciliation system that automates account reconciliation process to a large extent, thereby cutting down time and dependence on manual reconciliation expertise.

  • The benefits derived are:
    • Improved accuracy through process standardization
    • Greater control through Reviews, Escalations & Approvals
    • Improved efficiency - Decreased costs
    • Easy identification of entries causing account balance discrepancies
    • Flexibility of Multi-Customers with Multi-Accounts.
    •  Account Reconciliation allows Multiple Rules that can be parameterized by user.
    • Timely Web-based MIS reports

FEATURES

Options Features
SECURITY
User Management Functionality for users to be managed. User ID's can be created and maintained (added/ removed) in the system.
Role Based Access Rights Access Rights can be managed for a Group (Role) of users.
Multiple Account Setup Multiple Recon accounts (sets) can be setup & processed within the same system & database.

Multiple Customer Accounts can be created and managed withihn the same implementation.
Aging Rule Account All accounts of a particular account type to which aging rule applies would be aged according to the rules specified.
AUTO MATCH
Single/All Account Matching of records of single/All accounts is performed in a sequential manner.
Account Rule Using this feature, single account rule can be specified based on which reconcillation is done.
MANUAL MATCH
Recon Review & Finalization For a particular a/c, transactions can be final closed by an approver after which they cannot be uploaded.
Email notification for Reco. Review Auto Email notification would be generated to a Reviewer, when an account is Soft-Closed by Reconciler
Usage Instruction List of various usage instructions can be maintained in the system.
Replace Reference Will specify if reference number of transaction uploaded from file can be edited for that particular account type.
Notepad Notepad can be used using this feature.
UNDO
Complete Undo Any matched set of transactions can be Undone by the user.
Selective Undo Partial matched set (i.e. some transactions) of a matched set can be Undone by the user.
HOUSE KEEPING
Currency Setup List of various currencies is maintained in the system.
Location Setup Details of various locations is managed using this option in the system
Business Unit Business Unit details are stored and managed in the system.
Recon Source Multiple types of reconciliation data inputs can be setup in the system.
Recon Type List of recon types are maintained in the application.
Recon Rule Details for Recon Rules can be managed in the system
Recon Frequency Detail for indicating frequency of Reconciliation can be handled.
Review Calendar Review calendar list is managed using this feature.
Aging Parameters List of various aging parameters are maintained.
REPORTS
Aging Report Report to show Categorized aging of un-reconciled transactions, summarized on account level.
Outstanding Transactions Report All outstanding transactions which are there in the system are shown in this report.
Exhibit Report Annexure wise exhibit report is provided in the system.
Reconciliation Report All Reconciled transactions are shown in reconciliation report
Recon Work Dashboard User Management Functionality for users to be managed. User ID's can be created and maintained (added/ removed) in the system.

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