Suspense Accnt Reconciliation

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Key features

  • Automatic JDE GL accounts reconciliation
  • Allow specified currency tolerances
  • Easily track reconciliations with an automatically assigned code
  • Reconcile both “AA” and “CA” ledgers, irrespective of the company’s operating currency
  • Execute your account reconciliation process in JD Edwards, ensuring it is accessible to co-workers

More benefits

  • Automated reconciliation within user specified tolerance
  • Each reconciliation is assigned an individual reference code
  • Verification and registration of the reconciliation date, enabling an “as of” report to be generated
  • Reconciliation in the company’s own operating currency or in foreign currency, as well as the automatic recording of tolerance/exchange differences
  • Both “AA” and “CA” ledgers can be reconciled, irrespective of whether the company’s own operating currency or foreign currency has been chosen
  • Classification can be defined by the user to make reconciliation easier
  • The information is recorded in JD Edwards, making it accessible to everybody

The Challenge


One of the items in a monthly report is a specification of the suspense accounts. This specification must be compiled accurately, which often takes a great deal of time; in fact, sometimes too much time. This process can be optimized using this JDE Account Reconciliation solution which enables you to cut cost, save time and reduce the number of errors in your financial administration.

 

 How it works


The use of suspense accounts is necessary for financial administration. At the end of any financial close period, the balance of these suspense accounts must be explained. Often this is done by printing a specification of all the entries or importing them into Excel, followed by a manual matching process. Every month this takes precious time and many unnecessary errors tend to creep in.

 

JD Edwards integration


Manual reconciliation of your EnterpriseOne suspense accounts becomes increasingly difficult as the financial year progresses and the numbers of entries in the suspense accounts increase.

When Excel is used, the data is not recorded in JD Edwards, which means that it will not be accessible to everybody. This process can be optimized using this JD Edwards Financial Account Reconciliation solution.

The Financial Account Reconciliation add-on allows you to reconcile entries automatically. Since the reconciliation is recorded in JD Edwards, the information will be available to everybody. You define the classification criteria and a proposal is made concerning which entries can be reconciled. Reconciliation will improve your business’ financial processes and saves money every month.

 

Additional information


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