Average Ratings 0 Ratings
Average Ratings 0 Ratings
Description
To initiate a reconciliation, one should start by examining the closing balance of the General Ledger in comparison to the sub-ledger or other pertinent documents, which may include bank statements or third-party records. Any discrepancies identified between these sources must be thoroughly investigated, measured, and resolved whenever feasible by making the necessary adjusting entries in either the general ledger or sub-ledger. It is also essential to document any anomalies as reconciling items to maintain transparency throughout the process. Ultimately, the balances should align perfectly and be substantiated with all accompanying documentation linked to the reconciliation. The review process is crucial for confirming the completeness of the reconciliation, and incorporating an additional approval layer can enhance confidence in its accuracy. Moreover, establishing a robust framework along with a standardized process can significantly streamline and enhance the efficiency of the reconciliation process at the end of each month. This not only fosters consistency but also aids in identifying potential issues much earlier in the cycle.
Description
SkyStem is a New York City-based company that provides a powerful month end close solution for companies looking to streamline their financial processes. ART, the company's flagship product, is an enterprise technology that allows Controllers and CFOs to reduce the month-end close time and the time it takes to issue financials. It automates balance sheet reconciliations, manages month-end tasks and performs flux analysis. It also provides insightful reporting. The web-based solution reduces manual tasks by up to 90% and strengthens internal controls and corporate governance.
API Access
Has API
No
API Access
Has API
No
Integrations
Blackbaud CRM
No
Deltek Costpoint
No
Deltek Vantagepoint
No
Ellucian Banner
No
GLOVIA G2
No
Genpact Cora
No
Infor CloudSuite HCM
No
Infor CloudSuite Industrial Enterprise
No
Infor LN
No
Macola
No
Integrations
Blackbaud CRM
Yes
Deltek Costpoint
Yes
Deltek Vantagepoint
Yes
Ellucian Banner
Yes
GLOVIA G2
Yes
Genpact Cora
Yes
Infor CloudSuite HCM
Yes
Infor CloudSuite Industrial Enterprise
Yes
Infor LN
Yes
Macola
Yes
Pricing Details
No price information available.
Free Trial
No
Free Version
No
Pricing Details
Free Demo
Free Trial
No
Free Version
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
Yes
Mac
No
Linux
No
Chromebook
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
No
iPad App
Yes
Android App
No
Windows
No
Mac
No
Linux
No
Chromebook
No
Customer Support
Business Hours
Yes
Live Rep (24/7)
No
Online Support
Yes
Customer Support
Business Hours
Yes
Live Rep (24/7)
No
Online Support
Yes
Types of Training
Training Docs
Yes
Webinars
No
Live Training (Online)
No
In Person
No
Types of Training
Training Docs
Yes
Webinars
Yes
Live Training (Online)
Yes
In Person
Yes
Vendor Details
Company Name
RecWise
Founded
2017
Country
Australia
Website
www.recwise.com
Vendor Details
Company Name
SkyStem
Founded
2009
Country
United States
Website
www.skystem.com
Product Features
Audit
Alerts / Notifications
No
Audit Planning
No
Compliance Management
Yes
Dashboard
Yes
Exceptions Management
Yes
Forms Management
No
Issue Management
No
Mobile Access
No
Multi-Year Planning
No
Risk Assessment
Yes
Workflow Management
Yes
Product Features
Workflow Management
Access Controls/Permissions
Yes
Approval Process Control
Yes
Business Process Automation
Yes
Calendar Management
No
Compliance Tracking
Yes
Configurable Workflow
Yes
Customizable Dashboard
Yes
Document Management
Yes
Forms Management
Yes
Graphical Workflow Editor
Yes
Mobile Access
No
No-Code
No
Task Management
Yes
Third Party Integrations
Yes
Workflow Configuration
Yes