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GL Accounts Out of Balance

Excessive time is spent in reconciling inter-company due to/from accounts because intercompany transactions have to be entered manually for each company. Transactions are re-keyed into multiple databases and there are errors. Sometimes, transactions are not recorded in all companies, or they get recorded incorrectly, resulting in difficulty reconciling the inter-company balances. The reconciliation of bank accounts is manual. It takes too much time to reconcile a bank account. You have a manual process of entering deferred revenue transactions or are using recurring entry transactions to handle the recognition of deferred revenue. Transactions are missed, not recognizing revenue when they should….

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