CleverBalance - Intercompany Recon

CleverBalance automates intercompany reconciliation by matching transactions between entities with speed and precision—eliminating manual Excel work and reducing reconciliation errors. Key Features: 1. Invoice & Reference-Based Matching: Matches transactions using invoice numbers, journal IDs, and document references for high accuracy. 2. Date & Amount Matching: Identifies matches even when references are missing using amount and date proximity. 3. One-to-Many & Netting Support: Handles split entries, grouped transactions, and intercompany netting seamlessly. 4. AI-Powered Matching Engine: Resolves complex and edge-case scenarios without forcing incorrect matches. 5. Clear Matched vs Unmatched View: Separates reconciled and unreconciled items for easy tracking and action. Benefits: - Faster Financial Close: Reduces reconciliation time from days to hours. - Improved Accuracy: Minimizes manual errors and mismatches across entities. - Better Visibility: Quickly identify missing entries, timing differences, and incorrect postings. - Audit-Ready Reports: Clean, structured outputs ready for audit and compliance. - Handles Real-World Complexity: Supports cross-entity differences, adjustments, and varied accounting practices. How to Use: 1. Upload Data- Upload Entity A and Entity B datasets (CSV/XLS/XLSX). 2. Map Fields- Select date, identifier (invoice/reference), and amount columns. 3. Run Reconciliation- System standardizes data and performs rule-based + AI matching. 4. Review Results- Check matched transactions and investigate unmatched items. 5. Take Action- Resolve discrepancies and finalize clean balances for consolidation.