The reconciliation process is a critical first step in the financial close and sets the foundation for period end success. However, due to its impact on all subsequent close activities, many find reconciliations to be an extremely stressful process that results in using more resources than ‘planned’ for completion. In some organizations, nearly the entire F&A team must drop everything and reconcile.
In The Ultimate Guide to Account Reconciliations, take a deep dive into looking at R2R holistically. From defining what effective Accounts Reconciliation can do for the broader enterprise to the common challenges, learn how best practices and solutions can support organizational growth.
Read on to learn how F&A can better...
- Establish a strong System of Financial Controls within the finance
department for both efficiency and effectiveness throughout the close processes - Ensure internal and external systems of record are in total alignment
- Standardize processes to provide a strong foundation for the entire close
process
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