An ERP-native app that automatically reconciles all transactions to accounting. It can be up and running inside your ERP in 24 hours.
FinLync's Reconciliation app uses constant, uninterruptible streams of data to accelerate and automate the posting and clearing process.
Machine learning is at the very core of the app. It uses SAP AR/AP/GL open item data, master data, and cleared items to generate an accounting proposal with detailed rationales so that accounting teams can quickly reconcile transactions. This allows users to train the model while maintaining full control over postings.
Here's what the app requires from the IT department once live:
That's because the app's machine learning pulls all SAP posted accounting documents from existing entries, then suggests offsetting GL accounts, document types, and posting keys based on previous transactions.
The Reconciliation app also:
suggests cost objects for bank charges and interest payments based on account number references
identifies virtual accounts and intercompany sweeps to be matched to SAP accounts
uses machine learning to calculate all possible amount combinations for bulk invoice payments
This combination of always-on data, machine learning, and IT-friendliness makes reconciliation much less painful and vastly more accurate.