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Month-end balance sheet account reconciliations: process reinvention

The University of Auckland has a decentralized finance function. Its policy is to have all balance sheet accounts reconciled by cost centre and reviewed within the individual business units on a monthly basis, with a second review performed by the Central Finance team at the end of each quarter. This leads to over 2,500 individual

  • Editorial Team
  • November 28, 2021
  • 1 minute

The University of Auckland has a decentralized finance function. Its policy is to have all balance sheet accounts reconciled by cost centre and reviewed within the individual business units on a monthly basis, with a second review performed by the Central Finance team at the end of each quarter. This leads to over 2,500 individual reconciliations that have to be completed each month. How ReconArt has delivered efficiency and visibility into the process: read further.

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