Manual account reconciliations aren't bad; they're awful! Few tasks in the finance department illicit such dismay. You can run, but you can't hide for as frustrating, tedious, and time-consuming as the processes are, they're also critical. Neglecting or delaying account reconciliations leaves organizations and their internal controls vulnerable.
Fortunately, manual reconciliations are no longer necessary. Automation software can do it faster, more accurately, and on whatever schedule you choose, resulting in more robust internal controls and freeing your team to tackle more important tasks.
If it sounds too good to be true, you've come to the right place. We have a number of resources to educate those looking to eliminate manual account reconciliation processes.
Take a look at our live demonstration of reconciliation automation at the 2020 GFOABC Virtual Conference.
More on advanced technology in the finance department:
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To function effectively & efficiently in the coming decades, your finance department must plan for these 5 major changes right now.READ MORE
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The bonus for us was their (FHB's) knowledge and understanding of the internal processes municipalities experience during year-end preparations and the audit. This meant that we didn’t need to spend time explaining how we operate. (read more...)
I am certainly happy we implemented CaseWare. I easily saved 40 hours of time. Plus, we saved $8,000 on our audit fees because of the time it saved the auditors. We expect it will get faster and better yet! (read more...)
F.H. Black understands municipal accounting. There’s a tremendous knowledge base within the company and they use that knowledge to come up with strategic recommendations that really help us leverage the software to our best advantage. (read more...)
FHB had a comprehensive understanding of GASB requirements and the process needed to build a compliant report. FHB was able to provide great suggestions as to format as well as ensure we were able to keep the spirit of the report we provided previously. (read more...)