Managing the accounting cycle in enterprise software can be a very repetitive and tedious task. However, the closure and reconciliation of the financial module is one of the most important tasks to ensure that your organization has accurate and timely financial statements. Below I’ve outlined some best practices and tips for completing the subledger reconciliation process. For the purposes of this article I will focus primarily on the Accounts Payable subledger, however the same principles can be applied to the other subledgers (i.e. Receivables, Inventory, Cash Management, Fixed Assets etc.)
