Our Account Reconciliation Services

What is Account Reconciliation?

The business activities in most organizations today is multilayered and complex. However, despite sophisticated accounting systems in use to cater to these needs, account reconciliation continues to be that one indispensable step to ensure that all the figures add up right.

Account reconciliation is the procedure of verifying that all accounting records of an organization are consistent with the bank statements. It also ensures that the various components of the company's financial statements agree with each other. Account reconciliation thus entails a detailed check of an organization's financial records, bank statements, client and vendor bills and all supporting documents to detect discrepancies, address them and reconcile the final balance. It accounts for checks outstanding, deposits in transit and reveals errors in the records.
Account reconciliation is an integral part of a company's internal financial controls. Accurate account reconciliation reports are an indication of effective tracking and interim controls. Accounting reconciliation is a vital tool for company auditors to determine the veracity of a company's financial statements and its internal reporting.

Benefits of Account Reconciliation Services ?

Reduce administrative and accounting expenses
Streamlined procedures using automated reports and online tools
Leverage accounting expertise of best-in-class accountants
Achieve regulatory compliance with laws such as Sarbanes-Oxley Act.
Access state-of-the-art Account Reconciliation software
Increase financial controls with accurate and timely information
Improve fraud protection
improved internal financial reporting and leverage the high quality of account reconciliation services
Highly competitive pricing
Best-in-class accountants trained to offer expert account reconciliation services
Rigorous data security systems
Accounting reconciliation over flexible time periods based on client needs
Customized formats accepted for input data
Account reconciliation done for digitally or manually kept accounting records
Data transfer via email, secure web servers or remote access
Account reconciliation reports generated in customized, digital/hard copy formats
Account reconciliation services that work within the client's existing financial systems
Updated systems and processes allow faster, accurate tracking of transaction and accounting data.

Our Account Reconciliation Services
Our Professional team understand the existing reporting systems and financial controls prevalent in your organization. After consultations and discussions, the need if any for any process variations, additional records, or internal accounting reports is determined. We undertake several levels of account reconciliation such as:
Reconciliation of internal accounting records with bank statements
Reconciliation of credit-card statements against bank statements
Reconciliation of stock ledger with physical stocks
Ledger reconciliation with vendor and buyer invoices
Ledger reconciliation with client invoices
Reconciliation of Taxes
Deposit reconciliation
Check sequencing

Data Security Initiatives at Outsource2india for Account Reconciliation Services
we have built-in confidentiality agreements and has invested in high security infrastructure for data transfer. Our team is made aware of the highly sensitive nature of the data they deal in and several levels of protection are accorded to ensure that your company's internal information is secure:
Non-disclosure / Confidentiality Agreements
Service Centers that function as High Security zones
Secure Web Servers
Restricted access to registered and authorized users only
Virtual Private Network protection (VPN)
24x7 uninterrupted power supply
Encrypted file servers
Password protected systems
Biometric Access