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About

A reconciliation should begin with comparing the General Ledger closing balance to the sub-ledger or other relevant sources (such as bank statements or other third-party documents). Differences between the two need to be investigated, quantified, and where possible, resolved by posting correcting journals to the general ledger or sub-ledger as required. Anomalies should be recorded as reconciling items to provide visibility. The balances should match and be fully supported with all documentation attached to the reconciliation. The review process ensures the reconciliation is complete, and you can also add a layer to approve the reconciliation being complete. A framework and a standardised process go a long way to improve the reconciliation process each month-end.

About

Statement Zen is web-based accounts payable software for reconciling supplier statements against ledger records. Users forward statements to an email address, and the service extracts and matches statement lines with ledger entries. A dashboard groups exceptions such as missing ledger entries, items absent from the statement, and amount, date, or reference differences; matched lines are collapsed. A balance check tests whether the opening balance and statement movements equal the printed closing balance. Xero and QuickBooks Online connect through read-only access. Viewpoint Vista sends payable data through its Workflow Notifier, while other accounting systems can connect through the Statement Zen API. The product processes native-text and scanned PDF statements, as well as CSV files and spreadsheets. It is designed for bookkeepers, accounts payable teams, and accounting firms that reconcile supplier statements.

Platforms Supported

Windows Supported
Mac Not Supported
Linux Not Supported
Cloud Supported
On-Premises Not Supported
iPhone Not Supported
iPad Not Supported
Android Not Supported
Chromebook Not Supported

Platforms Supported

Windows Not Supported
Mac Not Supported
Linux Not Supported
Cloud Supported
On-Premises Not Supported
iPhone Not Supported
iPad Not Supported
Android Not Supported
Chromebook Not Supported

Audience

Audit solution for companies

Audience

Bookkeepers, small accounts payable teams, accounting firms, and high-volume finance departments.

Support

Phone Support Supported
24/7 Live Support Not Supported
Online Supported

Support

Phone Support Not Supported
24/7 Live Support Not Supported
Online Supported

API

Offers API Not Supported

API

Offers API Supported

Screenshots and Videos

Screenshots and Videos

No images available

Pricing

No information available.
Free Version Not Supported
Free Trial Not Supported

Pricing

$99/month
The Starter plan is $99 per month when billed monthly, or $79 per month with annual billing ($948 per year). It includes up to 100 statements per month. A free plan covers 25 statements per month.
Free Version Supported
Free Trial Not Supported

Reviews/Ratings

Overall 0.0 / 5
ease 0.0 / 5
features 0.0 / 5
design 0.0 / 5
support 0.0 / 5

This software hasn't been reviewed yet. Be the first to provide a review:

Review this Software

Reviews/Ratings

Overall 0.0 / 5
ease 0.0 / 5
features 0.0 / 5
design 0.0 / 5
support 0.0 / 5

This software hasn't been reviewed yet. Be the first to provide a review:

Review this Software

Training

Documentation Supported
Webinars Not Supported
Live Online Not Supported
In Person Not Supported

Training

Documentation Supported
Webinars Not Supported
Live Online Not Supported
In Person Not Supported

Company Information

RecWise
Founded: 2017
Australia
www.recwise.com

Company Information

Statement Zen
Founded: 2011
Australia
statementzen.com

Alternatives

Alternatives

SaleLedger

SaleLedger

Profitpin LLC
ALTO Accounts Payable

ALTO Accounts Payable

Innovation Centric Group
ReconXpert

ReconXpert

Sydel Corporation
FISPAN

FISPAN

5.0 out of 5 stars

Categories

Audit Supported
Financial Close Supported
General Ledger Supported

Categories

Accounts Payable Supported
AP Automation Supported

Audit Features

Alerts / Notifications Not Supported
Audit Planning Not Supported
Compliance Management Supported
Dashboard Supported
Exceptions Management Supported
Forms Management Not Supported
Issue Management Not Supported
Mobile Access Not Supported
Multi-Year Planning Not Supported
Risk Assessment Supported
Workflow Management Supported

Integrations

QuickBooks Online Not Supported
Viewpoint Vista Not Supported
Xero Not Supported

Integrations

QuickBooks Online Supported
Viewpoint Vista Supported
Xero Supported
Claim RecWise and update features and information
Claim RecWise and update features and information
Claim Statement Zen and update features and information
Claim Statement Zen and update features and information