Intercompany Eliminations RPA makes it easy for users of ReportFYI to automate the process of identifying potential intercompany transaction matching. This process typically requires manual efforts to identify and match, which slows down the financial close process.
With Intercompany Eliminations RPA, ReportFYI users can set matching criteria, and automatically filter through massive amounts of general ledger transactions, across multiple related companies within a period, to quickly identify potential intercompany transaction matching.
Summary: The FYIApp, Intercompany Eliminations, enables ReportFYI users to automate the process of identifying potential intercompany transaction matching, saving countless hours of time every close and speeding the financial close process.
Greater efficiency - Allowing a bot (RPA) to perform the repetitive tasks of scouring countless GL transactions each month and identifying potential intercompany transactions, freeing up employees to pivot to more value-added activities.
Disparate types of intercompany transactions. The ability to set multiple user-defined criteria and run the automated matching process in multiple rounds of review, allows various ways to find possible matches – all while leveraging the RPA app to do the heavy lifting.
Coordination challenges between entities. Through rules-based automation, accounting staff can better manage the flow and communication between entities to ensure an optimal intercompany commerce process. It also enables teams to quickly and more accurately identify one-sided transactions that require the other legal entity to make offsetting journal entries on their books.
FYIsoft’s leading financial reporting and FP&A solutions team with UiPath Bots to deliver intelligent automation designed to speed the financial close process.
• Leverage RPA to automate the manual, mundane task of identifying potential intercompany transaction matching.
• Automatically set user-defined matching criteria and filter through massive amounts of G/L transactions to identify intercompany transactions requiring clearing journal entries.
• Improve the overall speed and accuracy of the financial close process.