Account & Inventory Reconciliation
Save precious time each and every JDE month-end close by automatic optimization of your suspense accounts.
A solution that supports you with the end of month reconciliation and inventory processes.
Available as a JD Edwards add-on.
Reduce errors in your General Ledger and optimize your processes.
Account & Inventory Reconciliation
A fast way to implement and easy to use automated account reconciliation solution that is fully integrated with JD Edwards. Each month- period- year-end close companies benefit from time savings avoiding a manual reconciliation of huge numbers of suspense accounts and by presenting the right figures.
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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.
Watch it in Action
Unlock premium content & view the full recording of our latest webinar.
Title
How to tackle the most common problems in your Account Reconciliation process
Topics
Watch this webinar for Account & Inventory Reconciliation (AIR) to learn how to save precious time each and every JDE month-end close by automatic optimization of your suspense accounts.
Recorded in
February, 2024
Benefits
- Save time: Efficient user-friendly reconciliation
- Produce accurate info for your accountant and save on audit costs
- Reduce errors in accounting
- Identify incorrect transactions and correct your processes
- Reliable inventory reporting and explanation of your balances
- All within your JD Edwards software
Key Features
What this solution can do for your business
1. JDE GL accounts reconciliation
Automatic JDE GL accounts reconciliation
2. Specified currency tolerances
Allow specified currency tolerances
3. Track reconciliations
Easily track reconciliations with an automatically assigned code
4. “AA” and “CA” ledgers
Reconcile both “AA” and “CA” ledgers, irrespective of the company’s operating currency
5. Accessible in JDE
Execute your account reconciliation process in JD Edwards, ensuring it is accessible to co-workers
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