The Best Account Reconciliation Software

By Tracy Lum , last updated January 27, 2012

In business, having the best account reconciliation software is a must. Maintaining accurate financial statements is often very difficult due to the problems inherent in managing numerous spreadsheets and all the people who edit them. Luckily, there are many varieties of account reconciliation software available on the market to facilitate the process.

One of the best software packages for account reconciliation is produced by BlackLine. BlackLine’s account reconciliation software streamlines the process by building a workflow into the program, which allows the account reconciliation process to run virtually automatically. The program tracks the status of the transactions and also guides users to help them fill out the transaction input fields accurately and consistently. In addition, the program has dashboards that monitor the account reconciliation process and create reports for easy analysis. Overall, the software package is designed to make managing account reconciliation and audits easier.

Another viable software alternative is the Unity Suite Financial Software package produced by TrinTech. Account reconciliation is only one aspect of the Unity Suite Financial Software, which also performs functions such as risk management and financial reporting. As far as account reconciliation is concerned, TrinTech’s websites boasts that the program can “automate more than 90% of your reconciliations.” In addition, the application allows you to make templates to standardize the input of transactions. Fortunately, the modules of the financial software suite can be purchased individually, but also integrate well with each other.

ReconArt offers a web-based solution to account reconciliation. The service can import data periodically and perform the account reconciliation process. The reconciliation statements that the program generates can be printed, or certified online and saved to a Report Vault for future reference. Like the Unity Suite, ReconArt has separate modular services that can be integrated over time, as your business needs expand.

Account reconciliation is often a tedious, mundane, but necessary business activity. Fortunately, clever programmers have created software to help you maintain your financial records with ease.

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