Account Reconciliation Services from Cyber Infrastructure

Account Reconciliation Services from Cyber Infrastructure

What is Account Reconciliation?
Accounting and Finance Services
In 21st century organizations the business activity is multilayered and complex. However, account reconciliation still is indispensable step to ensure that all the figures add up right.
Account reconciliation is the procedure of verifying that all accounting records of an organization are consistent with the bank statements. It also ensures that the various components of the company's financial statements agree with each other. Account reconciliation thus entails a detailed check of an organization's financial records, bank statements, client and vendor bills and all supporting documents to detect discrepancies, address them and reconcile the final balance. It accounts for checks outstanding, deposits in transit and reveals errors in the records. Account reconciliation is an integral part of a company's internal financial controls. Accurate account reconciliation reports are an indication of effective tracking and interim controls. Accounting reconciliation is a vital tool for company auditors to determine the veracity of a company's financial statements and its internal reporting.

Why Outsource Account Reconciliation Services to CIS?

• Reduced administrative, management and accounting expenses
• Procedures automated reports and using online tools
• Accounting expertise of accountants with rich experiance
• Access state-of-the-art Account Reconciliation software
• Increase financial controls with accurate and timely information
• Improve fraud protection
  

Service Includes:

• Reconciliation of internal accounting records with bank statements
• Reconciliation of credit-card statements against bank statements
• Ledger reconciliation with vendor and buyer invoices
• Partial reconciliation
• Full reconciliation
• Deposit reconciliation
• Check sequencing

Some of the software packages frequently used at CIS are:

• Pro Tax
• Sage Line 50
• Quicken
• IRIS

Data Security Initiatives at CIS for Account Reconciliation Services
One of the key concerns that customers often have when outsourcing account reconciliation services is the data security aspect since the outsourcing partner has access to critical accounting information of your organization. However, CIS has built-in confidentiality agreements in the SLA and has invested in high security infrastructure for data transfer. Our team is made aware of the highly sensitive nature of the data they deal in and several levels of protection are accorded to ensure that your company's internal information is secure:

• Non-disclosure / Confidentiality Agreements
• Service Centers that function as High Security zones
• Secure Web Servers
• Restricted access to registered and authorized users only
• Virtual Private Network protection (VPN)
• 24x7 uninterrupted power supply
• Encrypted file servers
• Password protected systems

Benefits of CIS's Account Reconciliation Services:
Some of the advantages of outsourcing account reconciliation to CIS are:

• Highly competitive pricing
• Expert accountants trained to offer expert account reconciliation services
• Rigorous data security systems
• Accounting reconciliation over flexible time periods based on client needs
• Customized formats accepted for input data
• Account reconciliation done for digitally or manually kept accounting records
• Data transfer via email, secure web servers or remote access
• Account reconciliation reports generated in customized, digital/hard copy formats
• Account reconciliation services that work within the client's existing financial systems
• Updated systems and processes allow faster, accurate tracking of transaction and accounting data.

For any outsourcing needs, please visit "The One-Stop Outsourcing Services" provider at http://www.cisin.com