Accounting reconciliation done manually in spreadsheets and with a large volume of data can be one of the most time-consuming and inefficient processes of accounting close. With the adoption of accounting reconciliation automation, in addition to reducing hours or even days of manual labor, companies increase the capacity to analytically process thousands of financial transactions and add greater quality to the information. By ensuring that each record undergoes well-structured validation and review mechanisms, the data generated from this process allows the organization to obtain more assertive reports and financial statements, as well as enabling a more effective historical analysis in an increasingly data-driven world.
The main objective of tax reconciliation is to ensure that tax entries have been recorded correctly. Its routine consists of checking the transactions, taking into account tax rules and focusing on the organization’s security. One of the biggest benefits of checking information in tax reconciliation is the possibility of identifying errors in the fulfillment of the company’s tax obligations, preventing serious tax problems and promoting the correction of non-conformities before they can cause delays, either in the payment of obligations or delivery of results.
Financial institutions within capital markets have a strong need for data quality with millions of transactions occurring daily. Dattos allow users to automate clearing (ETD/OTC), broker (trades, positions, fees, commissions) and custody reconciliations with ease, decreasing time spent on manual spreadsheets and delivering fast results, even when dealing with large volumes of data. Dattos can ingest, clean and validate multiple raw data formats regardless of which platform they originate from, with little or no prior transformation.
Data matching is very important to ensure that information distributed across multiple systems is complete, equal and assertive. Dattos allow users to compare data of any nature, from several types of information sources and with customized rules.