General Ledger Reconciliation: Simplified from Start to Finish

Blog post

The general ledger reconciliation process can be one of the most complicated processes of the financial close and is often the largest source of bottlenecks in the close. Transactions come in from all across the company and must be reconciled together in the comprehensive system that is the General Ledger (GL). Disruptive communication methods, unorganized workflows, reconciliation discrepancies, and heavy transaction volumes are just a few of the challenges within the reconciliation process.

The GL reconciliation process has always been a tedious, time-consuming one. But not anymore. General ledger account reconciliation software has revolutionized the reconciliation process by taking on the bulk of the repetitive tasks associated with reconciliations, creating a reliable audit trail and freeing up your accountants to work on more value-added projects.

Solve Manually Sourced Problems with Automated Workflows

For finance and accounting (F&A), consistent and controlled workflows and processes are imperative to the accuracy and reliability of the resulting financial reporting. Many F&A teams rely on manual processes, static spreadsheets, one person’s post-it note chain, another’s whiteboard reminder, and a whole bunch of other “unique” tactics in order to produce reliable financial statements on a regular basis. Reconciliation workflows based on manual efforts inevitably lead to headaches, frustration, miscommunication, and eventually, misstatements.

When automated workflows for reconciliation are enforced via world-class general ledger reconciliation software, the process is significantly improved by updating and enforcing standards across the team to enable a communicative, digital flow of timely information. Additionally, automated workflows establish a better, more efficient reconciliation preparation and approval process — two common financial close bottlenecks that F&A teams often face.

Enforce Key Controls as Part of a Comprehensive Control Framework

Automated workflows inside a general ledger reconciliation software solution do more than just align individuals’ note-taking and communication methods — it also ensures employees adhere to required controls, creating a consistent control framework.

Whether reconciling internal or external data, all rules must be followed and are documented in turn. Setting proper controls to be enforced within the workflow not only streamlines the general ledger reconciliation process, but also ensures that the goal of general ledger reconciliation efficiency is met while never sacrificing the integrity of the resulting financial reports.

Implement General Ledger Reconciliation Software for Greater Efficiency and Accuracy

In a perfect world, transactions would come to F&A teams in an orderly fashion, spaced evenly throughout the period. But inevitably, they often pile up and overwhelm staff, especially at year-end for industries such as retail, e-commerce, and the food and restaurant sectors. Automating the matching process, including automatically identifying reconciliation discrepancies, saves the organization both time and money, allowing the Office of Finance to adapt and pivot with a constantly changing business environment.

Automating the matching process streamlines general ledger reconciliation by both speeding up the process, and implementing standardization before automation is ever applied. Standardization includes, but is not limited to:

  • Executing a close calendar
  • Addressing data environment complexities
  • Using uniform, prepared templates
  • Evaluating policies, process design, and service placement
  • Clarifying roles and responsibilities of key close individuals

Effortless Transaction Matching

Transaction matching is the single most important part of the general ledger reconciliation process. The key steps in transaction matching are defining group attributes, creating match types, defining data sources, working with transaction types, and defining the matching process. By defining these steps in the reconciliation software, you eliminate countless hours of tedium and enable a previously unheard-of level of standardization. That standardization can then be leveraged to:

  • Execute a close calendar
  • Leverage prepared templates
  • Address environmental complexities within your data
  • Evaluate policies and processes
  • Clarify roles and responsibilities

The Benefits of General Ledger Reconciliation Software

While we’ve expanded on a few of the main benefits of general ledger reconciliation software, it doesn’t end there. Organizations of all sizes and industries use general ledger reconciliation software from Trintech and have found a multitude of benefits as a result, including:

  • Fewer errors: Automating the reconciliation process all but eliminates human errors that are a vexing staple of the manual reconciliation process.
  • Greater accuracy: GL reconciliation software automatically matches transactions, highlights errors, and identifies discrepancies resulting in much more accurate financial reporting.
  • Greater efficiency: With fewer errors to track down and most of the repetitive tasks being handled by the software, the entire GL reconciliation process becomes far more efficient.
  • Transparency: The software provides a real-time window into a company’s financial situation, allowing company leaders to make informed decisions.
  • A more streamlined workflow: Trintech general ledger account reconciliation software integrates seamlessly with a multitude of other productivity applications, leading to a more streamlined workflow.
  • Scalability: GL reconciliation software will scale with you as your business expands.
  • Enhanced risk mitigation: With General Ledger reconciliation software, you can identify and resolve discrepancies faster, thereby mitigating risk and preventing errors from producing a cascade of problems.
  • A reliable audit trail: By automating the bulk of the reconciliation process, you create an easy-to-access and completely reliable audit trail. You will know exactly who did what and when.
  • Cost-effectiveness: Trintech general ledger account reconciliation software will begin producing significant cost savings almost immediately.
  • Customization: The various components of Trintech’s GL reconciliation software can be customized to suit your specific needs.
  • Enhanced collaboration: With our general ledger reconciliation software, multiple team members can work on reconciliation tasks at the same time. 


General ledger account reconciliation software solves a host of problems that used to plague members of the accounting team. You will benefit from greater speed, fewer errors, and greater accountability. You’ll likely even be able to trim the hours spent on your financial close processes once the software has taken over all the rote work associated with general ledger reconciliation. In short, you’ll enjoy better financial management, enhanced decision making, and greater operational efficiency with general ledger reconciliation software from Trintech. Learn more about how we can help!