ERP Upload
Coprocess offers an intercompany reconciliation solution which enable subsidiaries, shared service centers and / or group accounting to upload ALL their open Accounts payable (AP) and Accounts Receivable (AR) items in their ERP system or systems.
Intercompany Matching
The upload includes an automatic intercompany matching process that compares the Accounts Payable (AP) invoices against the Accounts Receivable (AR) invoices according to a set of rules defined in the configuration of the system.
Reconciliation Calendar
Who can do what and when is controlled by a calendar which defines the cut offs for the intercompany reconciliation.
Discussion and Resolution of Intercompany Mismatches
Those responsible for AR and AP are able to flag and discuss individual invoices in order to resolve mismatches.
Mismatch Analysis
The system offers the ability to see at a balance level the total mismatches between entities (per currency). They are then able to drill down into the details causing the mismatch. This is extremely powerful functionality that offers a live analysis tool that enables subsidiaries and group accounting alike to see not only the balance level mismatches but also to drill down to see the actual invoices causing the mismatch AND to then start a discussion with the counterparty in order to try to resolve the issue. Corporate accounting for example is therefore able to have an overview of the group month end or quarter end position, to see who has the largest mismatches and chase the offending parties.
Month End Close
At month end close (as defined in the calendar) a copy of all the ledger items (AR and AP) are archived to a historic database to provide a snap shot of the position at month end. This month end data is accessible by the user in perpetuity but in a read only mode (it is no longer possible to make any changes to it).
Report Writer
The built-in report writer allows new reports to be added and existing reports to be modified according the specific needs of the client. Out of the box the system comes with a set of standard reports that should normally be sufficient for the client's needs. These include:
- Matching intercompany reconciliation items
- Mismatching intercompany reconciliation items
- Missing intercompany reconciliation items
- Inactivity Report
- Discussion and Resolution Report
In addition it is possible to export the data from all tables in the system in CSV and other formats which can then be imported and analysed in Excel.
