Reconciliation of Accounting Records

Accounting reconciliation is anextremely widespread internal control procedure, which can be considered either a detective or a preventive control instrument, depending on the time it is performed, being essential to the maintenance of good practices and fundamental to the closing of financial statements.

In practice, accounting reconciliation consists of comparing the balances recorded in accounting to those shown in financial or managerial reports, and is aimed at ensuring that the debit and credit entries of accounting records are made according the documents that originated such entries, so that any inconsistency found is investigated and timely regularized.

Accounting reconciliations are applicable to all records of the trial balance, however, the most commonlyknown by the public in general, due to the outstanding importance that managers give them, are banking reconciliations, however, the reconciliation of receivables, payables (suppliers), taxes payable, fixed assets and accumulated depreciation, etc. are also very common.

Even thoughpeople are aware of the importance of timely preparing accounting reconciliation, for a number of reasons, such as insufficient personnel due to the unexpected growth in the volume of transactions or the temporary leave of employees due to vacation or health issues, these controls end up being disregarded, having as consequence the accumulation of issues left pending for a long time without being investigated, resulting in financial statements that do not comply with the legislation and that no longer reflect the reality, sometimes masking very complicated and serious situations, such as, for example, deviation of funds, payment of suppliers in excess of the amount owed, etc.

To assist our clients in this type of timely need, we have developed a “staff loan” or “loan staff” service, which is the temporary allocation of professionals or of a team to perform day-to-day activities in companies, mainly those related to the accounting, financial, payables and receivables departments, among others.

Hiring “staff loan” or “loan staff” services allows companies to resolve all pending issues, and avoid that day-to-day activities accumulate, without overloading other professionals, which could lead to other consequences, such as compromising the quality of the result of the works carried out.

UniQue has a team of accounting professionals exclusively dedicated to this type of task, with experience in a wide range of segments and integrated systems, such as SAP, Protheus, Oracle, among others.

Our professionals are highly trained to provideassistance during the necessary time, so that managers find perfect peace to solely dedicate themselves to their objectives, being assured that the accounting balances are correct and are supported by documents, thus avoiding the risk of frauds and errors that may compromise the reliability of the accounting information, and the compliance with accounting and tax legislations.

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