Lots of color pens, books and most of all valuable work time are used when accounts are reconciled. But it does not have to be that way. Liljas Bil, is a Volvo Dealer in Sweden, Numerous of incoming payments are daily posted to several different accounts. Different forms of payment and payments that have been miss posted can cause frustration in the office. For a couple of years ago the situation became unbearable.
Color pen after color pen, hour after hour went by to fined miss postings and when one finally had found the cause, interruptions occurred and we had to start all over again. Finally we realized that we had to do something with the problem, says Anders Haferbier which is account responsible at the company. He got at tip from another car dealer to contact Adra Match, which sells systems electronic reconciliation software. One for handling the incoming payments, and one to reconcile the accounts. According to Anders Haferbier the most pressing need to something with, was the incoming payments, and that meant the software Adra Match Receivables. It took about one day.
Adra Match was here and installed the software, did the necessary adjustments for the software to match our needs. Finally we had a training session with the people who were to use the software. After that we went into production. Every day our staff downloads files from the Swedish clearing house, BGC. The program then matches this against the information that is in the subsidiary ledger. When something’s not correct, the software reacts. Earlier we had to check every transaction. This was immensely time consuming. Now over 90 % of it is taken care of by Adra Match Receivables and we only have to focus on the transactions that are not correct.
From having used hours every morning to handle reconciliations we are now down to approximately 20 minutes, explains Anders Haferbier. Adra Match Accounts and Receivables are flexible programs that can be optimized to the needs of the individual company. We can reconcile anything, as long as the information can be saved on two files and the software does not require new advanced ERP systems. Something that appealed to Anders Haferbier. I do not want some odd software or a lot of modules one never use. The software is fundamental and simple, but confounded good, he emphasis.
After Anders Haferbier and his colleagues have taken full advantage of the possibilities in Adra Match Receivables, they want to save even more time, now on account reconciliation. They have tried to do their reconciliations in excel, which did save some time, but not to the extent that it was worth the effort. The decision was made to implement Adra Match’s software for account reconciliation – Adra Match Accounts. Even these investments saved more work hours.