Hours to Reconcile the General Ledger

In a perfect world, all financial transactions feed neatly into a single enterprise resource planning (ERP) system, fully automating the once tedious, manual task of reconciling an organization’s general ledger. Reality, however, is rarely so tidy. 

Because multiple systems and missing transactions still commonly bog down the finance function, it’s important to track and manage how many hours, on average, it takes accounting staff to reconcile the general ledger. 

When reconciliation takes too long, it not only strips your organization of the ability to make strategic decisions based on timely financial information, but also slows down other accounting activities, such as forecasting and planning.

This infographic reviews practices organizations can take to decrease their cycle time to reconcile the general ledger.