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ease
features
design
support

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Description

To initiate a reconciliation, one should start by examining the closing balance of the General Ledger in comparison to the sub-ledger or other pertinent documents, which may include bank statements or third-party records. Any discrepancies identified between these sources must be thoroughly investigated, measured, and resolved whenever feasible by making the necessary adjusting entries in either the general ledger or sub-ledger. It is also essential to document any anomalies as reconciling items to maintain transparency throughout the process. Ultimately, the balances should align perfectly and be substantiated with all accompanying documentation linked to the reconciliation. The review process is crucial for confirming the completeness of the reconciliation, and incorporating an additional approval layer can enhance confidence in its accuracy. Moreover, establishing a robust framework along with a standardized process can significantly streamline and enhance the efficiency of the reconciliation process at the end of each month. This not only fosters consistency but also aids in identifying potential issues much earlier in the cycle.

Description

SkyStem is a New York City-based company that provides a powerful month end close solution for companies looking to streamline their financial processes. ART, the company's flagship product, is an enterprise technology that allows Controllers and CFOs to reduce the month-end close time and the time it takes to issue financials. It automates balance sheet reconciliations, manages month-end tasks and performs flux analysis. It also provides insightful reporting. The web-based solution reduces manual tasks by up to 90% and strengthens internal controls and corporate governance.

API Access

Has API

API Access

Has API

Screenshots View All

Screenshots View All

Integrations

Blackbaud CRM
Blackbaud Financial Edge NXT
Fusion Phoenix
Infor CRM
Infor LN
JD Edwards EnterpriseOne
Macola
Microsoft Dynamics GP
Oracle Fusion Cloud ERP
Oracle PeopleSoft
SAP ERP
Sage 100 Contractor
Sage 300 Construction and Real Estate (CRE)
Sage 500
Sage Intacct
Sage X3
SmartStream
Yardi Voyager

Integrations

Blackbaud CRM
Blackbaud Financial Edge NXT
Fusion Phoenix
Infor CRM
Infor LN
JD Edwards EnterpriseOne
Macola
Microsoft Dynamics GP
Oracle Fusion Cloud ERP
Oracle PeopleSoft
SAP ERP
Sage 100 Contractor
Sage 300 Construction and Real Estate (CRE)
Sage 500
Sage Intacct
Sage X3
SmartStream
Yardi Voyager

Pricing Details

No price information available.
Free Trial
Free Version

Pricing Details

No price information available.
Free Trial
Free Version

Deployment

Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook

Deployment

Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook

Customer Support

Business Hours
Live Rep (24/7)
Online Support

Customer Support

Business Hours
Live Rep (24/7)
Online Support

Types of Training

Training Docs
Webinars
Live Training (Online)
In Person

Types of Training

Training Docs
Webinars
Live Training (Online)
In Person

Vendor Details

Company Name

RecWise

Founded

2017

Country

Australia

Website

www.recwise.com

Vendor Details

Company Name

SkyStem

Founded

2009

Country

United States

Website

www.skystem.com

Product Features

Audit

Alerts / Notifications
Audit Planning
Compliance Management
Dashboard
Exceptions Management
Forms Management
Issue Management
Mobile Access
Multi-Year Planning
Risk Assessment
Workflow Management

Product Features

Workflow Management

Access Controls/Permissions
Approval Process Control
Business Process Automation
Calendar Management
Compliance Tracking
Configurable Workflow
Customizable Dashboard
Document Management
Forms Management
Graphical Workflow Editor
Mobile Access
No-Code
Task Management
Third Party Integrations
Workflow Configuration

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