Problem
A small building materials company prepares the accounting process internally and every month compares the statements from the accounting with the bank statements to confirm and validate all movements, which is called the bank reconciliation process. This process takes about a day a month and is susceptible to errors due to the need to check hundreds of movements.
Solution
An Excel spreadsheet has been created that allows to detect and reconcile bank movements with accounting movements more easily and more quickly. The company employee obtains the list of movements of the accounting by export from the accounting software and obtains the bank extracts in Excel through the online access to the bank accounts. It then launches the lists in the corresponding areas of the spreadsheet, which immediately suggests the several value matches.
Result
Bank reconciliation can be done in less than half the usual time and reduces the probability of errors.
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