The process of reconciling financial data is the basis for reliable reporting. FlexiEPM is more than just a tool – it is your reliable partner in automating account reconciliation, designed with the best practices used in global corporations and shared service centres in mind.
With FlexiEPM, you gain efficiency, simplicity, and confidence that reconciliations are accurate and financial data is correct. Replace manual, time-consuming processes with a modern solution that reduces workload and supports effective financial data management. Choose a tool that adapts to your organization’s needs and supports its growth.
Each account in the system can have its own reconciliation procedure. Adjust the scope, frequency, and rules of reconciliations to the specifics of your organization, and assign responsibility to designated owners to make the process transparent and efficient.
FlexiEPM allows you to assign responsibility for reconciliations to specific account owners. This means that each stage of the process has its own supervisor, which increases control over the quality and timeliness of activities.
Creating dedicated rules for accounts enables you to configure the reconciliation process according to the needs of your organization, regardless of its size or structure.
FlexiEPM automatically generates reconciliation forms for each account, containing detailed data from the general ledger and a checklist of required control tasks. This tool makes the reconciliation process intuitive and orderly.
These forms guide the accounting team step by step through the reconciliation process. By reducing manual work, the system allows accountants to focus on analyzing results and quickly correcting any discrepancies.
All control actions and explanations are logged, creating a complete audit trail ready for internal or external auditors.
FlexiEPM makes it easy to identify and correct discrepancies and errors found during reconciliation. Adjustments can be made either in the current period or applied to historical periods.
Every change in the system is automatically recorded, creating a clear reconciliation history. This ensures all actions are compliant with your organization’s accounting policy.
You decide whether adjustments are posted immediately or recorded in the appropriate accounting periods. The system provides full transparency at every stage of the process.
FlexiEPM integrates seamlessly with any ERP system, enabling automatic imports from the general ledger, subledgers, and reconciliation modules.
Through dedicated interfaces, the system imports open balances of receivables and payables as well as intercompany transaction details. For smaller entities, closed ERP systems, or outsourced accounting processes, data can also be imported in Excel format.
The system offers tools that support management control, providing team leaders and CFOs with online access to detailed reports and records. This gives managers full insight into the reconciliation process.
At the same time, the system logs the complete history of all actions, creating comprehensive audit documentation. This significantly simplifies cooperation with auditors and makes it easy to share the required data.
FlexiEPM eliminates chaos in reconciliation processes by organizing data and documents in one place. This transparency increases the efficiency and comfort of the entire team.
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In this post we will answer some common questions on how to recognize and manage lease and perpetual usufruct arrangements to ensure compliance with IFRS 16. We will explain the steps involved in the valuation of assets and liabilities for different types of contracts.
The adaptation of IFRS as an accounting standard affects the presentation of values in financial statements, especially in the context of leasing and rental under IFRS16.
The article examines these changes, showing how this standard modifies the balance sheet, profit, and loss statement and cash flow statement, highlighting key differences and new challenges in financial reporting.
IFRS accounting – scenarios If you want to make sure that your lease contracts are valued in compliance with IFRS 16, you have several alternatives. Here are
