Vendor Accrual Recon

The Problem:

Our client was manually matching general ledger transactions from NetSuite to a recon housed in Excel. However, due to some of the NetSuite transactions having slightly different descriptions than the name of the associated vendor, the recon in Excel involved manually matching each transaction to their applicable vendor.

The Solution:

We built a customized desktop application which automatically performed the following tasks at the click of a button:

• Ingest the NetSuite transactions report

• Ingest the NetSuite vendor listing

• Use AI to match transactions to the associated vendor

• Generate a report of matched and unmatched transactions

• Generate a reconciliation by month by vendor showing the accrued balances

The Result:

The automation saved the client roughly 20 hours per month end close and provided greater visibility in the make up of the accrued expenses general ledger account.