How to overcome the struggle of intercompany Reconciliations
7th Jun 2021
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How to overcome the struggle of intercompany reconciliations?
If you are a CFO in a small or medium-sized enterprise (SME) struggling with errors in your intercompany reconciliation you probably asked this question several times.
Intercompany reconciliation seems like a small thing in a monthly account. But when your balance sheet does not add up due to intercompany transactions that have not been eliminated correctly, it can mean hours of extra work and redoing reports.
Then the question often is: Why doesn’t it add up? And how will youlocate and fix the error to reconcile the account?
To understand why intercompany reconciliation sometimes gets messy here is the most common reasons:
Everyone can access and edit the spreadsheet where you keep your data.
The structure of the reporting is not efficient enough.
Due to the lack of structure and numerous spreadsheets maintaining an overview becomes difficult.
How to avoid errors in your intercompany reconciliation
It maybe sounds like a challenging and time-consuming task to ensure your intercompany reconciliations are correct and provides a reliable overview of intercompany transactions.
However, this is not the case.
You don’t have to spend hours and make a lot of manual work to check with subsidiaries or redo the intercompany eliminations over and over to make sure everything is correct.
If you just follow 3 easy steps you will be right on track to easy and accurate intercompany reconciliation.
Those 3 simple steps and a lot more you will get in Konsolidators guide “How to Overcome the Struggle of Intercompany Reconciliations”