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Average Ratings 0 Ratings

Total 0 out of 5 stars
ease 0 out of 5 stars
features 0 out of 5 stars
design 0 out of 5 stars
support 0 out of 5 stars

No User Reviews. Be the first to provide a review:

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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

Statement Zen is an online software solution for managing accounts payable, specifically aimed at reconciling supplier statements with ledger records. Users can simply send statements to a designated email address, where the software intelligently extracts relevant information and aligns statement entries with those in the ledger. A user-friendly dashboard highlights discrepancies, such as missing entries in the ledger or variances in amount, date, or reference, while consolidating matched items for clarity. An automatic balance verification feature checks whether the starting balance plus the transactions on the statement match the indicated closing balance. Additionally, Statement Zen offers seamless integration with Xero and QuickBooks Online via read-only access, while Viewpoint Vista transmits payable information through its Workflow Notifier; other accounting platforms can connect through the Statement Zen API. The software supports various formats, including native-text, scanned PDF statements, CSV files, and spreadsheets. Tailored for bookkeepers, accounts payable departments, and accounting firms, it simplifies the reconciliation of supplier statements, making the process more efficient and less error-prone. Ultimately, Statement Zen enhances financial accuracy and streamlines the workflow for teams managing accounts payable tasks.

API Access

Has API No 

API Access

Has API Yes 

Screenshots View All

Screenshots View All

No images available

Integrations

QuickBooks Online No 
Viewpoint Vista No 
Xero No 

Integrations

QuickBooks Online Yes 
Viewpoint Vista Yes 
Xero Yes 

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Pricing Details

$99/month
The Starter plan is $99 per month when billed monthly, or $79 per month with annual billing ($948 per year). It includes up to 100 statements per month. A free plan covers 25 statements per month.
Free Trial No 
Free Version Yes 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows Yes 
Mac No 
Linux No 
Chromebook No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Customer Support

Business Hours Yes 
Live Rep (24/7) No 
Online Support Yes 

Customer Support

Business Hours No 
Live Rep (24/7) No 
Online Support Yes 

Types of Training

Training Docs Yes 
Webinars No 
Live Training (Online) No 
In Person No 

Types of Training

Training Docs Yes 
Webinars No 
Live Training (Online) No 
In Person No 

Vendor Details

Company Name

RecWise

Founded

2017

Country

Australia

Website

www.recwise.com

Vendor Details

Company Name

Statement Zen

Founded

2011

Country

Australia

Website

statementzen.com

Product Features

Audit

Alerts / Notifications No 
Audit Planning No 
Compliance Management Yes 
Dashboard Yes 
Exceptions Management Yes 
Forms Management No 
Issue Management No 
Mobile Access No 
Multi-Year Planning No 
Risk Assessment Yes 
Workflow Management Yes 

Product Features

Accounts Payable

Approval Process Control No 
Bank Reconciliation No 
Cash Management No 
Check Writing No 
Duplicate Payment Alert No 
Fraud Detection No 
General Ledger Entry No 
Vendor Management No 

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5.0 out of 5 stars