Digitize monthly accounts with smart tools

Monthly accounts are part of your ongoing accounting and are often used as a minor reconciliation between other accounts. As the name suggests, a monthly statement contains a summary of all the company's account events over the past month.

• Timely insights: helps identify trends and errors/problems at an early stage.

• Basis for decision-making: You get accurate data for strategic decisions on an ongoing basis.

• Compliance: Ensures that accounting and reporting is done in accordance with applicable laws & regulations.

ERP systems - e.g. SAP, Microsoft Dynamics, usually for larger companies

Accounting software - such as Visma or Fortnox, usually for the smaller companies

BI tools such as Power BI or Tableau for analysis and visualization

Monthly accounting systems - such as Pricka, to simplify and streamline the process of account reconciliation and balance reconciliation.

• Lack of time: Many businesses have short deadlines and a lot of work to do.

• Data quality: Incomplete or incorrect transactions can delay the process.

• System integration: Lack of integration between different systems can create duplication of effort.

• Complexity: especially for companies with multiple companies or international operations.

• Many people involved: A large finance/accounting function with many employees

• Automation: Use systems to automate repetitive tasks, such as Pricka.

• Standardization: Introduce templates and checklists for uniformity, preferably in a digital system such as Pricka.

• Continuous follow-up: Perform reconciliations on a monthly basis.

• Training: Ensure that staff have knowledge of systems, processes and procedures.

• Accuracy: Ensure that each monthly statement is correct.

• Continuous reconciliation: Make sure your accounting records are up-to-date.

• Identify and manage discrepancies: deal with issues on an ongoing basis to avoid urgent actions in the middle of the year-end closing process

An accounting system such as Pricka can help both small and large businesses to have a more efficient and quality-assured accounting process.

Features and benefits of a transaction matching tool:

- Facilitate bank reconciliations. Pricka matches transactions from different sources, such as general ledger and bank. This minimizes the need for manual reconciliations and reduces the risk of errors.

Features and benefits of a balance reconciliation tool:

The benefits of a balance sheet reconciliation tool are many! You get a better overview and control while reconciliations can be more time-efficient. Pricka delivers a complete system for who should do what, when and how for your monthly accounts. It makes the work both safer and more fun!

We have extensive experience and expertise in helping companies towards a more streamlined financial statement process. Contact us and we will tell you more!

See our different packages and prices right here.