Average Ratings 0 Ratings
Average Ratings 0 Ratings
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
No images available
Integrations
QuickBooks Online
No
Viewpoint Vista
No
Xero
No
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