Reconciliation services
Automation of reconciliation reports in 1С and annual reconciliation services
Reconciliation reports for payments under contracts, commercial invoices and with counterparties may be required for various reasons:
- Year-end closing;
- Audit;
- Additional insurance against non-repayment of debt.
When accounting departments are required to generate reconciliation reports manually, this can give rise to work overload and overstretching of accounting resources, so we offer the following services to help:
Reconciliation reports
Reconciliation reports are drawn up to reconcile payments and identify discrepancies in contracts, commercial invoices, and receipts of money. If a debt is identified, the parties usually agree on a timeframe for its repayment. Reconciliation reports may also be used in court to support non-compliance with deadlines.
Although reconciliation reports allow mitigating risks, they are not mandatory documents. They can, for example, serve as insurance against non-repayment of debt due to the expiration of statute of limitations because the creditor may suspend the term of limitation in court if the debtor has signed a reconciliation report.
Setting up automatic generation of reconciliation reports in 1C: Accounting
- Installation and configuration
- Training
- User guide
Our automation module allows generating reconciliation reports by:
- Contracts
- Counterparties
- Contract currency
It is possible upon request to customize automation in other accounting systems.
Reconciliation services
Our accountants:
- Generate reconciliation reports in the appropriate program;
- Compare counterparties’ reconciliation reports with the data in the accounting system;
- Prepare and send to counterparties any identified discrepancies.
Our services may be provided either remotely or at the client’s site.