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    Professional Enterprise
Streamline the Month End Close reconciliations Professional Enterprise
Total control of balance sheet reconciliations BALANCER provides total control from the import and preparation of balances to final approval and review. Throughout the process, you have both a real-time overview and access to all details. y y
Real-time overview At all times, BALANCER gives you instant visibility into the planning, progress and status of the reconciliation process. y y
Simplify compliance BALANCER simplifies regulatory compliance by safeguarding the quality of your final balances as they are carried down. y y
Increase productivity Policies and procedures are distributed for every account. Error-prone tasks are eliminated, allowing staff to concentrate on their top priorities of reconciling and approving. All of the data is instantly uploaded to a secure digital archive, thereby eliminating the need for archive binders and photocopies. y y
Close faster, avoid risks By streamlining and digitizing the month-end close process, BALANCER can help to shorten the entire close process by days. At the same time, it eliminates the usual trade-off between speed and accuracy by simplifying compliance and meeting the high demands of governance for the financial close process. y y
Setup Professional Enterprise
Time zones Adopts to in different time zones. y y
Date, time and number formatting Use the domestic formatting you are used to. y y
Multilingual Designed to support multiple languages. Each user can select their own preferred language.
– New languages can be added on request.
y y
Engagement Setup Professional Enterprise
Fiscal years Chose start and end of fiscal years – even a specific day in a month is possible. y y
Periods Define any number of periods and define different levels as bi-monthly even and odd, quarter end, every fourth period, half year, year end. y y
Account settings Professional Enterprise
Account types and sub types Set up types like Assets, Liabilities, Equity, Contra assets, Income, Expences and make use of sub types. y y
Risk rating Set risks levels on each account. Together with information on risks to look out for in the reconciliation procedure, reconciliation risks will be both prioritized and scrutinized. y y
Account purpose
(Can be formatted)
For each account reconciliation the accounts purpose information is available, preferably formatted, which reduces risk as a user better can see if transactions, balances, supporting documentation are relevant or not. y y
Reconciliation procedure
(Can be formatted)
For each account reconciliation, its precise step-by-step procedure can be presented. If it is a high risk account information on what risks to look out for should also be displayed.
The fact that an accounts risk rating, with its purpose and its step-by-step reconciliation procedure (with information of eventual risks to look out for), is present as each account is to be reconciled, improves the quality and consistency of account preparations, approvals and reviews.
y y
Reconciliation templates List, Bank and Currency ledger templates. y y
– Extended ** Additional reconciliation templates such as templates suited for currency accounts and prepaid costs, Closing Exchange rate, Settlement Accounts and Accruals. n y
Key account Accounts that should be prioritized can be set to be key accounts. y y
Frequencies of preparation, approval and review Some accounts can be set to be prepared every month, approved only every Quarter and reviewed only every Half year. If so they will only appear as a reconciliation on the preparers, approvers or reviewers homepage at this time. y y
Carry forward Set accounts to never allow carry forward, to allow or to always carry forward transactions and supporting documentation.
– For more information on Carry Forward see under Automation below.
y y
System certifiable preparation and/or approval Set accounts to never allow, to allow system preparation only, system approve only, or allow both system preparation and approval.
– For more information on System Certify see under Automation below.
y y
– Extended Support for additional eight extra fields. n y
Enforce segregation of duties In some companies, it may not always be possible to have different individuals performing tasks. Then this setting can be disabled, provided it is compensated with a so-called soft control. y y
Imports and exports of settings All the settings above can be made in a spreadsheet and imported (except for the Extra fields). If one wants to set up another legal entity in a similar fashion one can export the settings and then import them to the other legal entity. y y
Users Professional Enterprise
System admin The system administrator sets up/removes users either as Business Administrators, users (preparers, approver and/or reviewers) and gives access to external auditors. y y
Business Administrator The person responsible for the set up of BALANCER. y y
Local Business Administrator If in a group of companies, a Local Business Administrator can be assigned. This person will have the same rights as a Business Administrator but only for chosen legal entities. y y
Person or Team approach It is possible to work with only assigned individuals for preparation, approval and review on specific accounts, but also to have a team of preparers, approvers and reviewers. y y
– Imports and exports of settings All the persons and/or teams settings above can be made in a spreadsheet and imported. If one wants to set up another legal entity in a similar fashion one can export the settings and import them to the other legal entity. y y
Reassign tasks and roles Easy to reassign tasks and roles – even temporarily (as for when staff is ill). y y
Period imports Professional Enterprise
Load and Update Balances BALANCER allows you to load your balances for a period from a spreadsheet or file. y y
Cross Entity Import of balances Import one file with balances to many legal entities. y y
Cross Entity Import of transactions/open items Import files with open items and/or transactions to multiple accounts and legal entities. y y
Adra ACCOUNTS integration BALANCER allows you to load reconciliation/open items and balances, from Adra ACCOUNTS – the easy-to-use Transaction Matching tool. y y
Loading of updated balances into an already opened period As balances are updated in the ERP-system they can be uploaded again. If so already prepared and approved accounts with balance changes, will be set back to “Not prepared”. All added open items and supporting documentation will remain.
This makes it possible to start the preparation before the end of a period and finalize it when the final balance is there.
y y
Loading of updated open items into an already opened period In an opened period where reconciliations already have taken place, updated transactions can be imported in different ways: 1) Only new transactions will be imported and all explained and documented transactions will remain. 2) All previous transactions will be replaced and the new ones added. y y
Integration Hub Automate the upload to BALANCER in an encrypted and simple way. A file transfer mechanism between on premise applications and BALANCER. n y
ERP-integration With over 3 000 customers we have not yet come across any ERP system from which we have not been able to fetch data. y y
Automation Professional Enterprise
Automatic carry forward Transactions and their supporting documentation from a selected legal entity and reference period and its reconciled accounts can be carry forward if it is allowed. y y
– Extended As above and if it meets business rules too, such as balances are the same, if open items in the reference period and the target period adds up to explain the full balance. n y
Auto certify preparations and approvals As a business administrator, you can system certify accounts where the unidentified amount is zero. y y
– Extended As above with the option of comparing the currents month’s balances against a previous/ reference period, and system certify the accounts where no changes have been made. y y
Frequencies Only accounts set to be prepared, approved and reviewed in the current period will show up on Home page, matrix overviews and dashboards. BALANCER keeps track of this. y y
Group action – approval of multiple grouped accounts An approver may group some accounts and approve them all in one operation, if suitable. y y
Certification Threshold Set up rules to prevent manual certification (Preparation) of an account. Example: Prevent a preparer to certify an account where a specific amount, a percentage or both of the balance is not explained. Protects you against the “human factor”. y y
Restriction on period closes Prevent periods where accounts reconciliations are not finalized (if the account is set to only be prepared in one period it is considered as finalized when prepared). y y
User interaction Professional Enterprise
Home page Provides overview of priority accounts (key and high risk accounts) and is instantly updated as for rejected preparations and accounts to be approved. The home page has graphs and tables to reveal workload status and upcoming task load.
All accounts set to no action during the actual period will not appear either (see Frequencies under Account Settings).
y y
Matrix overview If necessary, the matrix provides a more in-depth and customizable overview of Accounts and statuses for users. y y
Notifications If a user has been assigned a new account (perhaps a colleague is ill) or if a prepared account has been rejected, these tasks will be highlighted on the users Home page for immediate action. y y
E-mail notifications when necessary E-mail notifications can also be sent out if necessary, as when a period is opened, an account is ready for approval or has been rejected, when an account has been reassigned, etcetera. If the individual is active in BALANCER e-mail notifications are usually unnecessary due to the active Home page, but can be used when needed. y y
Reconciliation Preparation, Approval and Review Professional Enterprise
Relevant account reconciliation information on each account Each account’s Fiscal Years Opening balance, previous periods closing balance for both this year and the previous year, is displayed.
Each account’s descriptions is displayed (see more above under Account Settings).
Each account’s reconciliations procedure and perhaps step-by-step guide (see more above under Account Settings).
y y
Key account Information is visible. y y
Risk rating Information is visible. y y
Reconciliation templates Easy to understand reconciliation templates means good quality and consistent reconciliations. y y
Uploading of supporting documents Supporting documentation can be added for each registered open item or on the account reconciliation as a whole. y y
Whitelisting of supporting documentation Protects the integrity of sensitive information with Whitelist – a list of the only users that have access to the documents or document links on the account reconciliations as a whole. y y
– Extended Whitelist as above but also for a document or link attached to a specific open transaction item. n y
Account commenting BALANCER allows all users to add comments on any accounts as long as they have access to its legal entity. y y
Digital secure certification Digital secure certification of preparer, approver and reviewer. The certification is explicitly done with reference to the account’s reconciliation procedure. y y
All of these features means each accounts preparations, approvals and reviews are of a consistent high quality and risks mitigated, while high demands of internal control and compliance are met.
Reconciliation Preparation, Approval and Review Professional Enterprise
Dashboards Be sure to close in time with confidence. The Dashboards gives the visibility over the Period Close process, prioritization of high-risk accounts and key accounts, workload, and more. y y
– Customizable dashboards ** Flexibility to customize dashboards. n y
Matrix overview and in-depth analysis Get the overview as you want it. The matrix over Accounts and status, is where columns can be shown and hidden, sorted and filtered, as well as grouped on. Then drill into details.
– If further analysis is needed all data or grouped, filtered and sorted data can be exported to a spreadsheet.
y y
Cloud solution Available everywhere and on every device. y y
Auditor access Professional Enterprise
Auditor Give external auditors access to only chosen legal entities.
If the auditors have suggestions for improvements, it can be made on the specific reconciliations, making it easier for improvement suggestions to be made and have effect.
Experience shows much of Prepared By Client list (PBC) information now won’t require more work than the access to BALANCER. Much audit work can also be done remotely from the auditor’s own office.
y y
Security Professional Enterprise
Secure log in Secure password policies which are regularly updated, or use with company’s Single Sign On procedure. y y
Cloud solution Available everywhere and on every device. y y
Audit trail All workflow related actions, document uploads, and comment entries etc, are logged with timestamp and user information. y y

** To be released
Note: All per user products require an annual contract. Planned releases are subject to change.

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