Stress-free reconciliation for Toshiba

Two years ago, it was not uncommon to have several months of reconciliations piled up on desks. Reconciliation is now performed on an ongoing basis, and is ready for accounting.

“I often had to get involved in reconciliation but not anymore,” says Accounts Manager, Helene Sundström Nilsson.

On the Swedish market alone, Toshiba Tec Nordic had around 4000 banking transactions in the ledger to be reconciled against approximately 100 bank transactions every month. Two years ago, everything was handled manually in Excel.

“The situation became untenable for both the person responsible for reconciliation and for the rest of the Accounts Department. We never got things into sequence, and differences had to be cleared up much later.

It only took one day for Adra Match Consultant to set up the settings for the Swedish, Norwegian and Danish accounts. We now get a better overview, because any non-matches generate reports. We can run reconciliation continuously.

One of the biggest advantages is that you can work when you want. Take an hour here and there when you have time. This was completely impossible before.”

Toshiba has saved a lot of time, probably a couple of days per month. Sundström Nilsson also says that it is a great comfort to know that everything is correct and reconciled when reporting monthly accounts in just three days.

“There is no comparison to how it was before. Bank reconciliation is no longer a time-consuming, stressful thing, but takes little effort now,” she says.

Adra Match has also built in a report that can easily reconcile accrued expenses. In the future, Toshiba plans to consider the possibility of reconciliation of several accrual accounts.

Toshiba Tec Nordic AB is responsible for sales of multifunctional printer and copier systems, copy printers in black and white and colour, and barcode printers. It is headquartered in Solna, outside Stockholm, with offices in Oslo, Helsinki and Copenhagen. Turnover is approximately SEK 650 million and the company employs approximately 200 employees.

It was not uncommon to have several months of reconciliations piled up on desks. Reconciliation is now performed on an ongoing basis, and is ready for accounting.
Helene Sundström Nilsson, Accounts Manager, Toshiba Tec Nordic