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

Every month, the finance department reconciles various general ledger accounts, such as inventory, and ensures that balance sheet accounts are justified. But why do so many companies still carry out this process manually, even though it’s so time-consuming? A lack of control over parts of the overall booking process can lead to errors in the month-end closing.

Manual Tasks Lead to Delays and Unnecessary Errors

In any reconciliation process, errors are likely to be found, whether they involve journal entries posted to the wrong accounts, missing entries, errors offsetting mistakes in transfers, reversals, allocations, and so on. This results in a lot of manual work in addition to the tasks required to close out the month. Furthermore, finance and accounting departments are expected to deliver more with less, using fewer resources in less time, which can ultimately lead to stress.

New module ensures efficiency

However, this doesn’t have to be a painful process. There is a better way, and every JD Edwards EnterpriseOne user has access to it. With the module developed by Cadran, companies can streamline their General Ledger and Inventory reconciliation processes and eliminate repetitive manual work.

More about the Account & Inventory Reconciliation add-on

Cadran’s Account & Inventory Reconciliation module from Cadran was developed by JD Edwards financial experts with over 25 years of experience and addresses the most common issues in the reconciliation process. The module provides solutions for:

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

The benefit? Greater control over your financial process

This solution offers automated reconciliation procedures, reporting of (as-of) inventory values, and control of inventory with ongoing transactions. The significant advantage of this solution is not only the elimination of errors and reduction of time-consuming tasks; with this module, you enhance control over your financial process—not just at month-end, but always, every day. You can deliver accurate information, prepare month- or year-end reports quickly, and demonstrate to your auditor that you know exactly what’s happening in your business.

Take the reins with Cadran’s Account & Inventory Reconciliation module for JD Edwards EnterpriseOne.