Audience
Audit solution for companies
About RecWise
A reconciliation should begin with comparing the General Ledger closing balance to the sub-ledger or other relevant sources (such as bank statements or other third-party documents). Differences between the two need to be investigated, quantified, and where possible, resolved by posting correcting journals to the general ledger or sub-ledger as required. Anomalies should be recorded as reconciling items to provide visibility. The balances should match and be fully supported with all documentation attached to the reconciliation. The review process ensures the reconciliation is complete, and you can also add a layer to approve the reconciliation being complete. A framework and a standardised process go a long way to improve the reconciliation process each month-end.
Other Popular Alternatives & Related Software
Iridium BI
We built Iridium BI because we can clearly see that law firms deserve better BI than they are currently getting: better cubes, better dashboards, better value, and better service. Iridium BI provides law firms with their choice of high performance cubes and dashboards. All content can be customized based on the firm’s business requirements. Our dashboards are built on the powerful concept that there should be a goal for every value that is displayed. For every component of Iridium BI, we have thrown out the traditional architectures and approaches and built revolutionary new components that provide phenomenal performance and capabilities. The Iridium BI GL module provides a complete BI solution for analysis and reporting on general ledger and AP sub-ledger data, including drill-through to the journal entries. Role-based dashboards summarizing firm performance and financial position.
Learn more
ReconXpert
Although ReconXpert was originally created to reconcile the Federal Reserve accounting information to the financial institution’s general ledger, the application has evolved to eliminate all time-consuming manual reconciliation processes while ensuring that accurate and timely information is available to the financial institution’s management in order to make crucial business decisions on a daily basis. ReconXpert contains two distinct modules that work together to create an advanced reconciliation tool that has unparalleled soft-coded matching rules for rapid set-up and reconciling. The Operations Module is a Web-based application that allows your organization to perform multiple reconciliations based on the business rules defined in the Administration Module. The results are displayed and the users have the ability to review automatic matches, create manual matches and manual journal entries, track open items and investigate items.
Learn more
SYNDi Investment Ledger
Investment management software should be able to handle a multitude of investments, including stocks, mutual funds, and more. We break down all the things you should look for when picking an investment management software that’s right for you. SYNDi Investment Ledger manages the purchase and sale of stocks, bonds, short-term notes, fixed deposits and other financial instruments in an investment portfolio. In situations where you maintain investment history in the general ledger a G/L account is set up typically for each security and is often extended to the partner level through sub-accounts for tracking purposes. The result is the chart of accounts soars to an unmanageable level. SYNDi Investment Ledger solves the problem by maintaining individual transactions while passing a simple journal entry to General Ledger. With SYNDi Investment Ledger you may set up just one or two asset accounts for investments and maintain all history within the sub-ledger.
Learn more
ReconArt
ReconArt is an enterprise-class fully web-based platform designed for end-to-end automation and integrated management of all data reconciliation processes. Our reconciliation software solution leverages best practices and technology in line with the digital transformation trends in finance & accounting.
ReconArt’s integrated functionality supports all aspects of the reconciliation lifecycle : from administrative management and data integration, to robust transactional matching & exception management technology, to comprehensive, fully auditable balance sheet reconciliation, and other supporting functionality such as journal approvals and variance analysis.
Through all this user-owned functionality, ReconArt supports any type of reconciliation, including but not limited to bank accounts, credit card, payments, GL/suspense, AR/AP, ledger to sub-ledger, intercompany, trades and positions, balance sheet.
Learn more
Integrations
No integrations listed.
Company Information
RecWise
Founded: 2017
Australia
www.recwise.com
Videos and Screen Captures
Other Useful Business Software
AI-generated apps that pass security review
Retool lets you generate dashboards, admin panels, and workflows directly on your data. Type something like “Build me a revenue dashboard on my Stripe data” and get a working app with security, permissions, and compliance built in from day one. Whether on our cloud or self-hosted, create the internal software your team needs without compromising enterprise standards or control.
Product Details
Platforms Supported
Cloud
Windows
Training
Documentation
Support
Phone Support
Online
RecWise Product Features
Audit
Compliance Management
Dashboard
Exceptions Management
Risk Assessment
Workflow Management
Alerts / Notifications
Audit Planning
Forms Management
Issue Management
Mobile Access
Multi-Year Planning
