Reinvent the Account Reconciliation Process
What if you started with an empty workflow chart and had to fill in how your month-end close and account reconciliation processes would work?
What would it look like? Would it include bottlenecks? Would binders be in the final square? How about your team, would each member have a customized way of reconciling accounts?
If you are thinking to yourself, “there ought to be a tool that”… you have arrived at a place where we were several years ago. We created ART to transform the account reconciliation and month-end close process by having ART do the busy work and by having ART establish a workflow that removes bottlenecks, and alas, bids farewell to binders.
ART provides you with the opportunity to set up and customize materiality and other thresholds and a number of checks and balances during implementation that build in safeguards such as segregation of duties and time stamp and signature capture. Your specifications enable ART to bring red flags to your attention early in the close process.
Just as the wheel remains round, you may need to retain certain spreadsheets or steps in your account reconciliation and month-end close processes. ART works in conjunction with certain processes that cannot be omitted and allows you to upload documents (spreadsheets, invoices, board-meeting minutes, etc.) to store electronically in ART’s repository. These documents are always available, and carry forward when needed, for the next month’s reconciliation.
Our customers often mention additional benefits they find upon implementing ART, like built-in accountability and finding accounts that haven’t been reconciled for long periods of time. They are also thrilled to experience hands-on support and to work with a customer service team possessing great knowledge in accounting practices.
Check out how ART can help you reinvent your account reconciliation and month-end close processes.