Unify Sales Data for Financial Accounting
Manually exporting data from multiple systems is a time consuming and potentially error prone process. OReSA automatically synchronizes sales, returns as well as appeasements records from multiple systems such as, POS, eCommerce, OMS and ERP and creates a unified source of truth for financial auditing.
Unify Sales Data for Financial Accounting
Manually exporting data from multiple systems is a time consuming and potentially error prone process.
OReSA automatically synchronizes sales, returns as well as appeasements records from multiple systems such as, POS, eCommerce, OMS and ERP and creates a unified source of truth for financial auditing.
Analyze Data Errors and Take Corrective Actions
Retailers push sales and return data to the bookkeeping system by integrating it with their sales capturing systems. Yet, they often run into unfamiliar bugs and integration issues, which can inadvertently result in data loss. This, in turn, gives rise to gaps in records within the bookkeeping system.
To ensure data integrity, OReSA automatically compares sales totals of sales capturing systems with the bookkeeping system. In case any inconsistencies are found, the sales audit dashboard provides a gap analysis report that highlights the monetary gaps in both systems.
Analyze Data Errors and Take Corrective Actions
Retailers push sales and return data to the bookkeeping platform by integrating it with their sales capturing systems. Yet, they often run into unfamiliar bugs and integration issues, which can inadvertently result in data loss. This, in turn, gives rise to gaps in records within the bookkeeping system.
To ensure data integrity, OReSA automatically compares sales totals of sales capturing systems with the bookkeeping system. In case any inconsistencies are found, the sales audit dashboard provides a gap analysis report that highlights the monetary gaps in both systems.
Analyze Data Errors and Take Corrective Actions
Upon finding a monetary gap, an email notification is sent to the finance team so that they are promptly notified about inconsistencies and take immediate action for further investigation.
Analyze Data Errors and Take Corrective Actions
The gap analysis report also provides a breakdown of the specific records that are available in the sales capturing system but are missing in the bookkeeping system, and vice versa.
By analyzing missing transactions, finance teams can coordinate with the IT operations team to rectify the sales data discrepancies, fix system integration errors, modify workflows, or other measures to ensure data accuracy and consistency. Quickly rectifying data inconsistencies, gives retailers firm control and confidence over data integrity.
Close Financial Month
Regular reconciliation distributes an otherwise high pressure workload into fast and easy audits rather than forcing a large manual audit at the end of a month. By automatically reconciling sales daily and validating sales data flowing to bookkeeping systems, finance teams are freed from time-consuming manual auditing that is traditionally associated with month-end financials.
The outcome? Finance teams can close their financial periods in a matter of minutes, as opposed to the usual hours or days. This not only saves time but also reduces the risk of errors during critical month-end closing processes.
