Check balances and line items and auto reconcile accounts with one-click automation.

Every month our accountants spend too much time reconciling all balance sheet accounts, mainly using Excel spreadsheets. Account balances and line items have to be manually checked one by one. Additional journal entries must be created and posted to clear and move line items to other accounts. It isn’t always clear how often particular accounts have to be reconciled or who is responsible for doing it. 

Features

• Reconciliation Templates: Start reconciliations with simple yet highly configurable templates, which include your choice of header fields and accounting segments. Include instructions for reconcilers on the template, or add hyperlinks to external documents.
• Approval Workflows: Setting up a multi-phase reconciliation workflow is quick and easy. Select users who are responsible for the preparation and approvals of reconciliations from a list. Add an associated due date tracking to make sure reconciliations are completed on time.
• Automatic Reconciliation: Rules Analyse your account balances and transactions with a click of a button and complete reconciliations automatically based on various account balance rules.
• **Prior Period Data: **Carry forward open items or reconcile items and their supporting explanations from a prior period. Aico will automatically recognise line items from a prior period so that you can concentrate on new items only.
• **Dashboards: **Monitor the workflow status, due dates, unreconciled accounts and balances, aged items, and other bottlenecks in real-time. Filter reconciliations by any field to prioritise your tasks.