Achieve Flawless Financial Integrity with Automated GL Reconciliation
Eliminate manual errors, accelerate your financial close, and ensure audit-readiness. Reconwizz provides a powerful, automated solution to manage the complexity of General Ledger reconciliation with unparalleled accuracy and efficiency.
Why Manual Processes Fail
Prone to Human Error
Manual data entry, copy-paste mistakes, and complex spreadsheet formulas are a recipe for disaster. A single error can cascade through financial statements, leading to incorrect reporting, failed audits, and poor business decisions. Reconwizz eliminates these risks by automating data handling from end to end.
Immensely Time-Consuming
Highly skilled finance professionals spend days, or even weeks, on tedious, repetitive reconciliation tasks. This operational drag delays the financial close and diverts your best talent from high-value strategic analysis that could drive growth and profitability.
Lack of Visibility & Control
Spreadsheets offer zero real-time visibility. It's impossible to know the status of reconciliations, who is responsible for what, or where bottlenecks are forming. This lack of control creates uncertainty and makes managing the financial close process a constant struggle.
Significant Compliance Risk
Without a clear, unchangeable audit trail, proving compliance to internal policies and external regulators is a nightmare. Manual processes lack the robust tracking and documentation required, putting your institution at risk during audits.
Transform Your Financial Close Process
Intelligent, Rule-Based Matching Engine
Reconwizz automatically ingests and standardizes data from any source, including your core ERP, sub-ledgers, and external systems. Our intelligent engine applies powerful, user-defined rules to perform transactional and balance-level matching instantly, resolving the vast majority of items without human intervention.
Collaborative Workflow for Exceptions
Unmatched items are immediately flagged in a centralized dashboard. Automatically route exceptions based on risk or amount, assign them to specific team members, and track aging. Add comments and attach supporting documents to create a clear, unalterable audit trail for every resolved item.
Ensure Balance Sheet Integrity
Maintain perfect alignment between your general ledger and all critical sub-ledgers, including accounts receivable, accounts payable, fixed /assets, and inventory. Reconwizz provides the tools to substantiate balances and ensure data integrity across your entire financial ecosystem, providing a reliable foundation for your reports.
On-Demand Financial Insights
Move from reactive to proactive financial management. Gain immediate visibility into the status of your balance sheet reconciliation with customizable dashboards. Monitor the progress of your period-end close, track key performance indicators, and drill down into transaction-level details instantly.
Your Questions Answered
General Ledger (GL) reconciliation is the process of verifying the accuracy of the balances in your GL accounts by comparing them to supporting documents like bank statements, sub-ledgers, and other financial records. It's a critical process for ensuring the integrity of your financial statements, preventing fraud, and making informed business decisions.
Reconwizz dramatically accelerates the financial close by automating the most time-consuming parts of GL reconciliation. Our software automatically matches thousands of transactions in minutes, immediately flags exceptions for review, and provides real-time dashboards on the status of all account reconciliations, eliminating manual spreadsheet work and bottlenecks.
Yes, absolutely. A core strength of Reconwizz is its ability to perform sub-ledger reconciliation. We can automate the matching of your General Ledger against any sub-ledger, including Accounts Payable, Accounts Receivable, Fixed /assets, Inventory, and more, ensuring your balance sheet accounts are always accurate and fully substantiated.