{"id":3468,"date":"2018-03-13T20:47:33","date_gmt":"2018-03-13T20:47:33","guid":{"rendered":"https:\/\/www.peeriosity.com\/shared-services\/articles\/?p=3468"},"modified":"2022-09-06T17:57:14","modified_gmt":"2022-09-06T17:57:14","slug":"account-reconciliation-standards-and-quality-control-reviews","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2018\/03\/account-reconciliation-standards-and-quality-control-reviews\/","title":{"rendered":"Account Reconciliation Standards and Quality Control Reviews"},"content":{"rendered":"

Introduction<\/strong><\/span><\/p>\n

Applying advanced technology solutions to overly complicated and non-standard processes makes implementation more difficult, reduces the benefit, and complicates process improvement efforts by requiring modifications that require carefully coordinated changes in procedures and technology.\u00a0 While there is almost always more that can be improved upon, having a base level of stability and standardization, with accurate analysis work steps and control points, is a clear prerequisite to any automation project, particularly for the account reconciliation process<\/a>.\u00a0 In addition, once new tools are in place, a careful assessment of how quality control<\/a> reviews are performed in the new environment (both in real-time and after the fact) must be completed.<\/span><\/p>\n

iPollingTM<\/sup> Results Review<\/strong><\/span><\/p>\n

Recently, Peeriosity\u2019s iPollingTM<\/sup> was used by two member companies to better understand related issues and opportunities.\u00a0 The first poll from a global technology company explored whether or not companies have a standard structure\/format for the preparation of General Ledger<\/a>\u00a0account reconciliations and, if they do, their level of satisfaction with the structure\/format that is in place.\u00a0 The member company had approved a plan but had not yet implemented it, so the intent of the poll was to identify companies with experience, where that experience could be directly leveraged.\u00a0<\/span><\/p>\n

The iPollingTM<\/sup> results indicated that 84% of member companies have a standard structure\/format in place, with 38% of all companies very satisfied, 27% satisfied, and 19% indicating that while they have implemented, their process is in need of improvement.\u00a0 Of the remaining 16% of the surveyed companies, 12% have approved this idea, but have not yet implemented it.<\/span><\/p>\n

\"\"<\/p>\n

Here are some poll comments from responding companies:<\/span><\/p>\n