Do you spend more time preparing for and generating balance sheet reconciliations than you do analyzing the results to fuel winning strategies?
If so, you are far from alone.
This common problem among GovCon clients inspired CAVU to devise a solution that not only keeps your books straight, but frees more of your time and creativity to mine that data for financial and strategic insights.
CAVU’s ClickVue™ Balance Sheet Recs is an Excel-based accounting automation tool optimized to work with Unanet and reduce the manual time required to prepare reconciliation schedules. With one click of a button, ClickVue™ pulls and formats actual data directly from your firm’s general ledger (GL) in Unanet. Streamlining monthly reconciliations can save your accounting staff not just hours, but days in the closing process. Besides freeing your team’s schedule, optimizing balance sheet recs can contribute in significant new ways to your firm’s success.
Benefits Beyond Reconciliation
In addition to automating and speeding necessary month-end reconciliation tasks, ClickVue™ can become your strategic tool that:
1. Acts as a critical check and balance on the quality of your data. ClickVue™ accelerates the completion of your month-end financial close with automated reconciliation of all balance sheet accounts in Unanet.
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- Project reporting and indirect rate reporting are contained in one file. This automated transparency reduces the errors and rework that occur with a typical manual process involving multiple spreadsheets, especially when they are shared across more than one platform, business unit, or location.
- ClickVue™ cuts the risk that early errors in manual reconciliation will mushroom into larger issues. Identifying imbalanced financial statements or cash flow problems, such as late payments, can alleviate unwanted opportunity costs and free up funds for other purposes.
- ClickVue™ allows your accounting department to compare detailed schedules to your Unanet GL, ensuring that all data is complete at month’s end and that supporting reports are reliable. The ClickVue™ dashboard allows your financial team to monitor the status of balance sheet integrity.
2. Serves as a primary checklist for open items to resolve. ClickVue™ presents a summary scorecard that visually highlights items that require attention. Your accounting department can identify errors to resolve issues proactively and promptly before they balloon into financial issues.
3. Frees up your finance team for more creative (and lucrative) pursuits. A typical manual reconciliation consumes a good portion of a finance team’s time. The Institute of Management Accountants estimates that the closing process takes an average of seven days.
The ClickVue™ reconciliation automation tool automates these tedious manual reconciliation tasks. Staff has more time to analyze data for historical patterns, transactional details, and account balances that provide decision-makers with valuable insights to support profitable strategies for marketing, product development, and financial performance. ClickVue™ can also help boost talent retention by shifting staff attention from manual reconciliation to focus on more creative and fulfilling work.
If your month-end closing process brings more frustration than strategic insight, feel free to contact our experienced GovCon accounting and finance team and ask for a demo.