Adra Match Accounts
By letting technology take over, you save time, reduce costs and work more efficiently! In accounts departments, a great deal of the work of closing the accounts is still being done manually. Manual handling of transactions and reporting accounts is one of the most time consuming processes of all. The Adra Match Accounts reconciliation system is a solution to automate, standardise and visualise the processing of transactions and to create accounts data for the monthly accounts.
Adra Match Accounts:
- Uniform, simplified work processes
- Easy to implement, learn and use
- Flexible and scalable solutions that grow with your company
- High performance – processes large quantities of data in a short time
- Advanced logic – correctly matched results
- Easy to generate reports and graphs
- Dashboard gives a good overview
Overall specification
Functions
Adra Match Accounts consists of four parts:
- Import
- Automatic reconciliation
- Manual reconciliation: reconciliations and corrections
- Reports
Import
In order to create automated routines, we first need to import the accounting system accounts into Adra Match Accounts (AMA). AMA reads text files and has been designed so as to adapt easily to different text formats. In other words, a company never needs to adapt its file formats to suit Adra Match. We adapt to the file format that is provided. The import can consist of either all balance accounts or selected, transaction-intensive accounts. Besides this, we need to import transactions from external sources such as bank accounts, pre-systems, fixed assets register, ledger, subsidiary companies (for internal balances) etc. AMA can read all accounts with the same file format at the same time. When everything has been read into the system, AMA can update all balances for the accounts that have been read in.
Updated in AMA
| Account ERP | balance | Account External Source (bank) | Balance | Difference | Number of open items |
| 1930 | 2 500 | 43274892374 | 2400kr | -100kr | 211 |
| 1618 | 10 000 | 400 | |||
| 1619 | 7 800 | 34 | |||
| 1515 | 13 000 | 20 | |||
| Osv… |
AMA’s entire import function can also be scheduled. For businesses with many accounts and several companies on the same licence, this means that Adra Match Scheduler can schedule everything from imports to automatic reconciliation.
Automatic Reconciliation
The next step is automatic reconciliation. Rules are established for each individual account to set conditions under which AMA can automatically match transactions. AMA’s matching engine is an advanced set of rules to control what, how and at what intervals matching can take place. The rules can be set up to match one item with another, but it can also match many items against one and many against many. This is all so that the balance and any differences can be reported in as few items as possible. This is to minimise the time taken up by everything in the accounts system that already matches. During reconciliation, all transactions that are approved by an established rule are moved directly to “reconciled items”.
Reconciled accounts in AMA
| Account ERP | balance | Account External Source (bank) | Balance | Difference | Number of open items |
| 1930 | 2 500 | 43274892374 | 2400kr | -100kr | 12 |
| 1618 | 10 000 | 20 | |||
| 1619 | 7 800 | 4 | |||
| 1515 | 13 000 | 2 | |||
| etc… |
Manual reconciliation
In the manual display we find all the transactions that fall outside the rules we set up for automatic matching. The display for manual reconciliation is designed so that matching transactions can be found easily. Here transactions that go together are matched manually so that they can be reconciled. The transactions are then moved in with the other reconciled items. The display for presenting the remaining open items is dynamic, i.e. you can choose for yourself what information about the transaction appears in the display. Amount, date, reference and text are mandatory. But information such as cost centre, area of responsibility, currency and period can easily be added. Using search and filter functions, you can easily find open items that are dedicated to a certain cost centre, for example.
If you are reconciling against an external source, the items from the respective sources appear in different colours.
Open items
| Accounting date | Currency date | Reference | Amount | Text | Comments | Cost centre/responsibility | Account |
| 2012-01-25 | 2012-01-26 | 44347498 | 2400kr | Received | 602 | 3473893284 | |
| 2012-01-26 | 2012-01-26 | 654644 | 2399kr | ocr | 602 | 1941 | |
| 2012-01-26 | 2012-01-26 | 656654 | 300kr | withdrawal | 601 | 1941 | |
| 2012-01-28 | 2012-01-29 | 43256654 | 566kr | transfer | 601 | 3473893284 |
Information can be entered in the comments field. The information is saved and will be available to appear in reports generated to describe the open items in the monthly accounts.
Overall functionality
AMA is a multi user system with five different roles. The roles control what a user is able to see and to do in the system. The user can be linked to one or more companies in the group and assigned rights to suit the working tasks. Signing on to the system can be done either with a single sign on or with a self-defined user name and password.
AMA Structure
Reports
AMA has a number of standard reports, including a list of balances and a report on open items. The list of balances shows the balances of all accounts in the system. The report of open items is used as an attachment to this. This shows the balances of selected accounts as well as the open items, specifying the balance or difference between various accounts (general ledger against bank for example).
Other than this, Adra Match can build reports as desired. Many of our customers want to have a report that is constructed in the same way as a reconciliation template/accounts specification that already exists (often an Excel template).
Other common types of reports adapted for customers are:
- Intra-group balances: A report that selects the transactions that represent the difference that arises between companies
- Age analysis: reports how long items have remained open in various predetermined time intervals
- Accounts order: a report in the form of an accounts order that can then be read into the accounts system. Among other things, this is used to re-enter transactions that have been entered in the wrong account and to enter reconciled differences.