New Version of Reconciliation & Account Balancing Application Released | AccountingWEB

New Version of Reconciliation & Account Balancing Application Released

The newest version of ReconNET, the reconciliation and account balancing application from Trintech Group PLC, is now available. The 7.25 version allows ReconNET to be integrated with AssureNET GL to extend existing financial controls and reporting capabilities through general ledger account reconciliation and certification, enabling smoother audits and compliance with regulatory requirements such as Sarbanes-Oxley Act (SOX).


Advertisement


Full-featured accounting software at an easy-to-afford price.

PLUS:
- Total integration throughout
- Data migration for QuickBooks upgrades
- Complete security -- audit trail and
employee access control
- GAAP Compliant
- Installation services
- Wide range of training options
- U.S.-based support

Contact Cougar Mountain today for a free demo!


“Regardless of reconciliation requirements for individual accounts, clients can benefit from extensive management and control features within ReconNET 7.25 and AssureNET GL,” John Harte, General Manager of Trintech’s Funds Management Systems Division, said in a statement announcing the new version. “This enterprise reconciliation solution provides a comprehensive toolset for the management of high-volume transaction reconciliations and template-based reconciliations, as well as complete visibility into the status of the account reconciliation program. With this combination of two leading reconciliation and certification solutions, enterprises will have the means to continually assess risks and costs, and intelligently analyze where and how they can benefit from improved operational controls.”

Trintech's integrated enterprise reconciliation solution easily automates reconciliation processes from daily verification and reconciliation of bank deposits, to month-end reconciliation of balance sheet accounts, to maintaining evidence of the review process, to certifying the accuracy of the financial data. Reconciliations are completed within the application, and at period end, "with just the press of a button" the results are certified.

Features and functionality of the solution will enable enterprises to:

  • Increase visibility into the status of the account reconciliation function in real-time -- ensuring management can assess the risk to the organization and respond appropriately

  • Extend their exception management and risk control structure to deliver faster results more efficiently

  • Report on core statistics via scorecard reporting (e.g., reconciliations prepared on time, the number of reconciliations passing policy guidelines, etc.)

  • Increase compliance with regulatory requirements such as the Sarbanes-Oxley Act

"Trintech continues to provide innovative product expansions that address evolving customer needs," continued Harte. "Our extensive experience servicing a global client base helps us determine how to best expand our product's capabilities, so that our customers can confidently meet their challenges head on."

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.