Account Reconciliations Software

Deliver a New Level of Risk Management

Conquer complexity and improve the integrity of financial results by aligning account reconciliations with financial reporting. Replace spreadsheets or standalone accounts reconciliation software solutions with a unified CPM software platform.

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Reduce Risk

Deliver a complete statistical view of your financial statements including a risk adjusted balance sheet.

Improve Internal Controls

Create a complete audit trail of who and when reconciliations were completed and approved.

Accelerate the Financial Close

Users can begin account reconciliations as soon as trial balances are submitted; no more waiting for the corporate close to complete.

Satisfied Customers

Delivering 100% Customer Success

“The OneStream platform is now core to McCain Foods Limited – uniting consolidation, planning, tax and analysis teams. OneStream Services’ strong leadership and technical knowledge was instrumental in our successful implementation. Their ability to actively listen to our goals and objectives and interpret during the design phase allowed us to create a system not only to satisfy our immediate needs, but to address our future needs.”

Richard N. Burton

McCain Foods

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Risk-Based Reporting
Deliver Risk Management Reporting on your balance sheet by presenting a complete statistical picture of the quality of your financial statements.
Immediately view the status of all high-risk reconciliations as they relate to your financial reports.
Understand the quality score of your financial reports.
Gain more confidence in your results and achieve true risk management.
Drill-to-Reconciliation
OneStream is the ONLY solution that can provide a link from reported balances to reconciled accounts. Drill-to-Reconciliation instantly from your financial reports in one unified system.
OneStream allows you to drill from your Balance Sheet directly to the Account Reconciliations.
Automated alerts to changes to reconciled account balances status ensure confidence that reports are always aligned with reconciliations.
Trial Balance Single-Sourcing
Account reconciliations live together with financial reporting so there is never a disconnect between your financial reports and your account reconciliation process.
Leverage the same data sources, data mappings, account hierarchies, workflows, and security as actuals.
Base financial information is collected and handled one time.
Immediate reconciliation status checks alert users if a previously reconciled balance has changed due to an updated trial balance import.

Account Reconciliations Solutions

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Financial Close & Consolidation Software

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Financial Reporting & Analytics Software

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Transaction Matching Software

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Financial Data Quality Management Software

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Solution Exchange

Account reconciliation is the process of ensuring financial statement account balances are correct at the end of an accounting period. It’s a process that uses two sets of records to ensure figures are correct and in agreement. And if they are not in agreement, making necessary adjustments or identifying and explaining differences.

Account reconciliations are typically performed after the close of a financial period. Accountants review each account in the financial statements and verify that the balance listed is accurate. This often involves comparing the financial statement balance to another source of information – for example comparing the balance for the Cash account to an external bank statement. Other examples of critical accounts that require reconciliation include:

Cash and investments – comparing to external bank and investment accounts
Accounts Receivable – comparing to the AR sub-ledger
Accounts Payable – comparing to the AP sub-ledger
Prepaid Expenses – listing the components of the account balance
Accrued Liabilities – listing the components of the account balance
Intercompany Payables and Receivables – ensuring they eliminate during consolidation
Fixed Assets – listing the components or tying out to a sub-ledger

The main reason for performing accounts reconciliation is to ensure consistency and accuracy in financial reporting. Account reconciliations are especially important and are a key internal control for publicly-held companies that need to report financial results to external stakeholders, with detailed audit trails available to back-up all account balances.