Brochures & Datasheets

Vena Account Reconciliations [RDS] [FIN]

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ACCOUNT RECONCILIATIONS A major component of the monthly close process is the completion of detailed account reconciliations. This process ensures that financial statements are accurate across the entire organization. While the account reconciliation calculations themselves are generally straightforward, the bigger challenge is source system integration and controlling the entire reconciliation process through workflows and audit checks. This is an area that bogs down many companies' close processes, sometimes delaying the monthly close by additional days, if not weeks. As companies grow, more reconciliations are required each month, which further complicates the process. Typical accounting systems and spreadsheets alone generally are unable to handle the reconciliation process, let alone track data collection from individual entities in an effective manner. AUTOMATE ACCOUNT RECONCILIATIONS WHILE LEVERAGING EXISTING SPREADSHEETS Vena is a flexible, web-based application that manages and automates your account reconciliation processes. Furthermore, Vena leverages your existing spreadsheets and templates and wraps them in a structured, automated environment that reduces risk, simplifies reconciliation calculations and streamlines data collection. Vena is an intuitive and powerful solution that helps eliminate the pain of the entire account reconciliation process. As you add new entities and accounts, the application dynamically grows to meet your requirements. Account reconciliations are a critical component of a company's monthly close process. Each fiscal period dozens, or hundreds, of account reconciliations need to be generated, computed and collected. Gaining control over this entire effort can be one of the most time- consuming processes in an organization's monthly close.

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