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Pinnacle can help. We've developed effective best
practices to help you improve reconciliation, and reduce float.
Historically, reconciliation was, and continues to be, one of
the last accounting processes to be automated, long after other functions
had been moved to the systems side of the equation. This was partly due to
the complexity of the process and partly to the discomfort of accounting
professionals with dealing with multiple source systems. Consequently,
Matching as an automated feature is no longer a novelty, but a required
system tool for the accountant and the analyst. The Matching process is
the primary accounting control used in any business closing cycle.
As an additional process, evaluating the invoice for accounting distribution
may be performed as part of the matching process. The authorizations and
accounting reviews have been evidenced as having been performed.
As the name implies, the process of matching is the comparison
of different documents
to each other to verify and validate that values on those documents agree. Agreement then permits the payment cycle to continue, disagreement holds the payment cycle until the cause and nature of the disagreement is evaluated and resolved. Resolution of a disagreement generally constitutes agreement (either by forcing the agreement, or by adjustment of an error to permit agreement) and the payment cycle flows normally from there.
Pinnacle has developed proven consulting methodologies to speed your intercompany reconciliation and reduce your outstanding intercompany float. These methods improve communication and improve the reporting transparency of your organization. With the implementation of the Sarbanes-Oxley Act of 2002, auditable transparency is more important than ever.
Effective intercompany processing and reconciliation can also result in more effective management performance bonuses, and improved business performance management.
Pinnacle understands the issues, and also the underlying application technology. This helps us communicate effectively with
the entire team and help you ensure a successful process deployment.
By working with Pinnacle we can help you to:
Locate problem areas and propose process improvements
Empower users and reduce overall support costs
Scorecard your results and show managed improvement
Create enthusiasm and interest for your project
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