Month End Close! It’s all about being in control!

Every month, the finance department ensures that various general ledger accounts, such as inventory, are reconciled and that the balances of suspense accounts are explained. Why is this process still mostly manual and so time consuming? Although errors in connecting accounts often arise from errors elsewhere in the supply chain within the company, they only come to light in the financial department. Insufficient control over parts of the total booking process ultimately lead to errors in the month-end closing.

Manual work causes delay and unnecessary errors

Errors are likely to be found in any matching process, be it journal entries posted to the wrong accounts, missing journal entries, errors to compensate for other errors and errors in transfers, reversals, allocations, etc. This results in a lot of manual activities that are additional to the work to be done already in the closing phase of the month. Combine that with increasing demands on finance and accounting to deliver more for less with fewer resources in less time, gives you the pressure cooker for stress.

New module ensures efficiency

However, it doesn’t have to be a painful process, there is a better way and every JD Edwards EnterpriseOne user can access it. With the module developed by Cadran Consultancy, companies can make their Account & Inventory Reconciliation processes much more efficient and eliminate repetitive manual work.

More about the Account & Inventory Reconciliation add-on

Cadran’s Account & Inventory Reconciliation module was developed by JD Edwards financial experts with over 20 years of experience and tackles the most common problems in the reconciliation process. The module offers solutions for:

  • Account Reconciliation
  • Inventory Reconciliation
  • Inventory Integrity
  • Advanced Item As-Of

The advantage? More grip on your financial process

The solution offers automated reconciliation procedures, reporting of (as-of) stock values ​​and validation of stock with current transactions. The big advantage of this solution is not only eliminating errors and reducing the time consuming process, with the module you increase control over your financial process! Not just at the end of the month, always, every day. Be able to provide accurate information, quickly prepare the monthly or annual statement and show your accountant that you know what is happening in your company.
You are firmly in control with Cadran’s Account & Inventory Reconciliation for JD Edwards EnterpriseOne.

Want to know more?

Would you like to know more about Cadran’s Account & Inventory Reconciliation for JD Edwards EnterpriseOne? Or do you want to know how A&IR can help your company? We will be happy to discuss the possibilities and advise you on their implementation. Give us a call!

Cadran - Jan Stalman

Auteur: Jan Stalman
Business Unit Manager – JD Edwards Industry & Wholesale at Cadran Consultancy

About this blog series

This first blog in a series about our Account & Inventory Reconciliation solution will be followed by more in-depth explanation of the features of the product, the value it brings and the additional enhancements which might be derived from it.