In a real-life scenario, a company may reconcile its bank account balance on the balance sheet with the bank statement. They would compare transactions, including deposits, withdrawals, and fees, ensuring they match between the company’s records and the bank’s records. Any differences would be investigated, such as outstanding checks or bank errors, and adjustments made to reconcile the balances accurately.
Reimagine Your Order-To-Cash with AI
Touchless Receivables. Frictionless Payments.
Recommended Digital Assets for You
Suggested Resources
Fundamentals of New Generation Digital Order-to-Cash Solutions: Things you need to know
Digital Assistants: The New Normal to Boost Order-to-Cash Operations
Accounts Receivables Analytics: What is it, and why is it so important?
Improving Order-To-Cash Efficiency Using Emagia Analytics
Add AI to Your Order-to-Cash Process
AR Automation for JD EDwards
AR Automation for SAP
AR Automation for Oracle
AR Automation for NetSuite
AR Automation for PeopleSoft
AR Automation for MS Dynamics
Emagia is a leading provider of AI-powered Order-to-Cash (O2C) automation platform that modernizes finance operations for midsize to large global businesses. Many global businesses and shared service centers use Emagia’s Autonomous O2C to transform to digital world-class operations in credit, invoicing and payments, receivables, collections, deductions, cash application and cash forecasting. Emagia solutions improve their customers DSO, cash flow, credit risk, operational cost, compliance and profitability.
