AssureNET GL : Thats a good Product for “Account Reconciliation”

Posted on August 13th, 2010 by Sanjit Anand | Print This Post | Email This Post

Have you heard about the product called "ASSURENET" , this is one of good product for reconcilation activity getting attention now a days by Accountants , Auditors ,controllers because the good capability of managing Finance accounts reconciliation and Audits trials feature. No matter its Balance sheet account or bank account, this product have great functionality which will add lot of value to business.

What is AssureNET

AssureNET GL is a web-based process management system for the general ledger account reconciliation & certification function. It is designed to strengthen the account reconciliation internal control while making the process much more efficient and SOX compliance.

This Product normally comes with three major functional modules like:

1. Complete Assigned Tasks & Activities Module
2. Prepare or Monitor Quality Assurance Reviews Module
3. Manage or Monitor Task & Activities Module

Using this software you can get the advantage of following benefits:

• This will Simplified the account reconciliation process , as most of the ERP does not have enough capability keeping the auditors in mind.
• This will reduced the amount of time necessary for Internal Audit's testing of account reconciliations.
• This enhanced the visibility into the performance of the control across the entire enterprise which may include detailed analysis by department, location, products or region.
• Automated email notifications will help to inform participants of impending reconciliation and review dates or missed deadlines
• Automated summaries of exception statistics and extensive management reporting
• Last but not the least complete segregation of duties between the reconciliation, review, approve and certification functions

Application Technology

Typically this application is developed using

• .NET Framework
• IIS WSE
• ASP.NET , AJAX Extensions
• And SQL Server as database.

This comes with hosted solutions via vendors On-Demand business unit as well as you manage and own this this product at your site.

References
Check out this product at vendor site, if your department is ready to spend few thousand of dollar.

1. Difference between “Cash Clearing Account” and “Clearing Account” in AR
2. A note on sub ledger reconciliation reports during period closure
3. R12 :Bank Statement Reconciliation
4. Month End Process for Account Payable
5. R12 AR Month End Close and Reconciliation