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4. Reconciliation - The part where you get to play detective. Why don't these amounts match: It might or might not be an error, underpayment or even perhaps fraud? Reconciling mismatched figures provides finance employees plenty additional information to get their teeth into; however the method remains vulnerable to health issues.vHealth risks: one of the largest reconciliation health risks is that the overreliance on paper for archiving. When reconciling items, it's typically necessary to trace back through all of the previous monthly close reports, as well as ledger entries and bank statements. However, 64% of finance employees still at least, in some way rely, on binders and paper to archive their financial close results.Prescription: as well as being far more secure, digital archives can also be much easier to look through than paper archived financial data for the required information. Digitised financial archives create the reconciliation process faster, easier additionally as helping you keep compliant with things like eDiscovery requests.
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