Automated Account Reconciliation Software
T-Recs Enterprise transforms the financial close process, delivering the advanced functionality and processing power required to automate General Ledger account reconciliations. Whether performing traditional reconciliations or advanced functions, such as identifying business risks, measuring ongoing performance or assessing the effectiveness of internal controls over the entire GL, T-Recs Enterprise reduces reconciliation hours and prevents the errors and risks associated with manual operations.
 
A comprehensive, rule-driven solution, T-Recs Enterprise’s unique design eliminates the need for separate modules to accommodate different account types, reconciliation methods, and data volumes. T-Recs Enterprise can reconcile any account based on customer-identified definitions of data characteristics, business processes, and data display templates.
T-Recs Enterprise’s Key Features
 
       Supports SOX compliance by maintaining detailed audit trails of all actions, enforcing workflows, document preservation/archiving and reporting
 
       Identifies, monitors, and assesses account risk
 
       Improves oversight and efficiency of close-out processes or business projects
 
       Provides automated and manual journal entry capabilities with built-in validation checks
 
       Offers extensive, customizable reporting capabilities
 
       Supports variance analysis at both the individual account level and the financial statement classification level
 
       Detects unexpected variances and immediately notifies appropriate users
 
       Presents information via highly intuitive, user-customizable, dashboard-style interfaces
 
       Delivers comprehensive, user-specific exception management and resolution
 
      Automates matching, using a powerful engine that allows users to define the best match rule process for each account
 
     Reconciles in any currency and between currencies, providing multi-language and multi-currency reporting capabilities
 
       Ensures a timely and accurate period-end close that requires minutes rather than days to complete
 
       Seamlessly gathers financial data from both internal and third-party sources
 
       Maximizes use of available funds through rapid cash transfers and sophisticated calculations that prevent overdrafts
 
       Encrypts and masks sensitive information such as credit card numbers and SSNs
 
       Maintains amortization schedules and automates associated entries
 
Learn more about the functions of T-Recs Enterprise:
Chesapeake continuously enhances T-Recs Enterprise based on business, regulatory, and technological advancements. Read our latest white paper to learn more about how T-Recs Enterprise can help you manage your corporate finances.
Implementation: The Choice Is Yours
Chesapeake offers three options for organizations to utilize the power of T-Recs Enterprise in their financial operations: license and install T-Recs Enterprise in house, allow Chesapeake to host the application, or outsource the function and let Chesapeake’s experts manage it. In each case, Chesapeake offers comprehensive, worry-free implementation services backed by an unparalleled customer support staff.
  • Licensed T-Recs Enterprise: Organizations wishing to keep IT functions and financial management activities in house can license T-Recs Enterprise. The software is platform independent. It can operate on Windows, various versions of Unix, Linux, and Apple Mac OS and utilize Oracle and MS SQL Server database management systems.
  • Hosted T-Recs Enterprise: This cost-saving option eliminates the need to install and maintain T-Recs Enterprise software on your corporate servers. Chesapeake hosts the application in our secure data center, and you upload your files and access T-Recs Enterprise locally via the Internet. Chesapeake’s advanced browser functions make data upload and system use as seamless as installation on your own server. Chesapeake applies all system enhancements and updates.
  • Outsourced T-Recs Enterprise: Firms that wish to enjoy the benefits of outsourcing can do so with confidence, knowing that Chesapeake is an industry leader in financial governance. Chesapeake’s Reconciliation Outsourcing option includes:
    • System Administration
    • Third-Party Data Collection
    • Process Management
    • Initial Exception Follow-up
    • Export File Creation (GL, ACH)
    • Preliminary Review of Reconciliations
Premium Maintenance Plan Available
Chesapeake’s objective is to maximize the benefit each customer receives from the rich functionality of T-Recs Enterprise, including exploring other ways to leverage the system and the data it contains in financial operations. Toward this goal, the premium maintenance plan provides for:
  • Database and application server review - This review ensures both servers are running the proper maintenance plan, contain ample space, and possess sufficient memory to run all T-Recs Enterprise processing. The review culminates in a document detailing the results, including recommendations to increase processing efficiency.
  • Process review - This review evaluates how the customer currently uses the system to identify the optimal mix of time and processing data.
  • Technical review - The technical review analyzes match rules, exception processing, reporting, and other functions within T-Recs Enterprise. The effort culminates in a detailed plan of potential changes that could yield more accuracy and greater time savings.
  • Training - Training focuses on new releases or functionality the customer is not currently running in T-Recs Enterprise (on-site sessions or general Webinars).
Click HERE to contact us or call 410-356-6805 for more information.
Reconciliation Brochure