Posts Categorized: Account Reconciliation

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June 12, 2018
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Automated Variance Analysis: A Bottom Line Breakthrough

Variance analysis is an important process for any FP&A team, but it’s also one that repeatedly drags down their efficiency. Flip-flopping between different spreadsheets, departmental records and time periods, all during the shrinking window of period end, quickly leaves employees scrambling to finish. All too often, the depth of the variance analysis suffers as the...

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May 22, 2018
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5 Steps to Improving Financial Processes and Controls with Technology

Conducting the final close through manual methods, such as spreadsheets, is the equivalent of trying to complete a relay race where the runners must collect a different baton at each checkpoint, and then pass on the growing collection to the next person in line. Because each person has their own unique gait and cadence, and...

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May 15, 2018
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How to Streamline the General Ledger Reconciliation Process

How to Streamline the General Ledger Reconciliation Process Delicious meals can be created from many disparate ingredients that seemingly have no connection at the start. Similarly, in an accountant’s work, transactions come in from all over the company (and sometimes the world) and must be reconciled together in the big “pot” that is the General...

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May 4, 2018
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Automated Account Reconciliation: Empowering the Accountants of Today

Automated Account Reconciliation: Empowering the Accountants of Today Click, drag, enter, scroll and repeat. Originally, relying on spreadsheets to balance your company’s books and reconciliation processes seemed like a great idea, right? Spreadsheets are commonplace and adopting new technology can feel inconvenient even when you know it will ultimately reduce financial risk for your company....

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April 24, 2018
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Your ERP Can’t Do It All

As long as a train is moving forward, it’s hard to tell if it could be moving faster. The same could be said for your company’s financial close process. With constant deadlines, controls and activities to juggle, the close process is one train car after another. If you’re managing your close inside your ERP simply...

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April 12, 2018
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Making Non-Trade Intercompany Accounting a Non-Problem

How preventative controls can make your non-trade intercompany reconciliation process predictable, reliable, and dependable              Within intercompany accounting, there are two types of transactions, trade and non-trade, also known as product and non-product. For today, we’ll focus on non-trade and look at how preventative controls can help you manage the process from the initial invoice...

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April 9, 2018
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Simplified Reconciliations You Can Bank On

Headquartered in St. Paul, Minnesota within the national Farm Credit System, AgriBank assists some 238,000 borrowers; it lends money to farmers, ranchers, agribusinesses and rural homeowners, while also providing risk management and retail banking services. Serving a 15-state region extending from Wyoming to Ohio and Minnesota to Arkansas means that AgriBank must successfully complete a...

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March 26, 2018
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Bringing Efficiency and Standardization to the Reconciliation Process

Headquartered in Kansas City, Commerce Bank has led the way in banking innovation, establishing the country’s first 24-hour transit department; introducing the first full-scale International Department; and offering the first bank card to have the combined feature of a credit card and an ATM card. Beyond being a financial service provider, Commerce Bank is a...

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January 31, 2018
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Customer Insights: Heartland Financial’s March ‘Matchness’

Have a matching project in your future? Make it a game! Take a look at how one Trintech customer turned the process of creating match rules into a friendly competition, and give it a try at your company next month!   Andrew (AJ) Cogan works for Heartland Financial, a bank holding company, in Dubuque, Iowa...

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January 12, 2018
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Taking Your Financial Close to World-Class

Despite the digital age we all live in, it is not uncommon for even enterprise-class organizations to rely on spreadsheets, emails and phone calls to manually manage tasks critical to the Close. Still, we all know that this approach is not a strategic, beneficial, growth-oriented, or long-term solution. Do you want your highly skilled people...

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