Makeen Account Reconciliation.
Accelerate efficiency through the automated process of reconciling accounts and matching transactions swiftly.
What is Makeen Account Reconciliation?
Makeen Account Reconciliation software serves as a comprehensive financial oversight tool that automates various aspects of general ledger account reconciliations. It covers tasks such as bank reconciliations, credit card matching, handling intercompany transactions, managing account receivables and payables, and even facilitates invoice-to-PO matching, all within a unified and centralized workspace. By employing Makeen Account Reconciliation, it eliminates the need for manual error detection and correction, allowing accounting teams to redirect their efforts towards managing exceptions, high-risk reconciliations, and engaging in other strategic financial activities.
Streamline and Uniform Your Reconciliation Procedure
Streamline the process of retrieving data from source systems, consolidating information in spreadsheets, manually inspecting account balances, and employing intricate calculations for matching and reconciliation.
Enhance Control and Visibility
Access a centralized location to monitor the progress of all reconciliations. Through realtime dashboards and specialized reports, you can track the current status of each account's reconciliation process, including details about the individuals responsible for preparation, review, and the dates of final approval.
Makeen Account Reconciliation
Features
Transaction Matching
Provide automated transaction matching to facilitate the reconciliation of balances, encompassing intercompany transactions, subledger entries, credit card transactions, and bank reconciliations. Operational and compliance dashboards display the status of reconciliations, indicating whether they are finished, ongoing, or overdue. Additionally, they identify the individual responsible for each reconciliation, present variance information, and include commentary as needed.
Bank Reconciliation
Makeen’s account reconciliation and banking integration capabilities synergize to enhance efficiency and precision in managing financial records. Makeen seamlessly retrieves bank statement data, cross-references it with finalized transactions in the accounting system, generates journal entries for any unaccounted transactions, and alerts accounting staff to any inconsistencies for further examination.
Financial Consolidation
The process of creating combined financial reports for companies with multiple subsidiary entities can be challenging. However, Makeen streamlines this task by automatically recording and merging accounts from the subsidiary level. This not only saves time but also enhances adherence to accounting regulations and reporting mandates.
Transaction Matching
Provide automated transaction matching to facilitate the reconciliation of balances, encompassing intercompany transactions, subledger entries, credit card transactions, and bank reconciliations. Operational and compliance dashboards display the status of reconciliations, indicating whether they are finished, ongoing, or overdue. Additionally, they identify the individual responsible for each reconciliation, present variance information, and include commentary as needed.
Bank Reconciliation
Makeen’s account reconciliation and banking integration capabilities synergize to enhance efficiency and precision in managing financial records. Makeen seamlessly retrieves bank statement data, cross-references it with finalized transactions in the accounting system, generates journal entries for any unaccounted transactions, and alerts accounting staff to any inconsistencies for further examination.