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RapidReconciler


By using RapidReconciler, companies can streamline their inventory reconciliation process, minimize the number of items requiring reconciliation and easily provide support for audits.

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See How It Works

 

 
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Erica Rahn

Cost Accountant - Foss Manufacturing Company, LLC

 

“What use to take us three days to reconcile at the end of the month now takes us three hours, a 96% reduction in time.”

RapidReconciler

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Problems Reconciling Your JD Edwards Inventory?

Over 200 companies in 17 countries use RapidReconciler® to streamline their JD Edwards inventory, in-transit and received not vouchered (RNV) to the general ledger (GL) reconciliation processes. By using RapidReconciler, companies are able to easily identify the root cause of the issue and take corrective action, thereby minimizing future occurrences. RapidReconciler works in conjunction with any release of JD Edwards EnterpriseOne or JD Edwards World applications.

Product Overview

How much time is spent each month addressing these reconciling items? Problem transactions can happen at any time, even in the most disciplined of organizations. Individuals make mistakes, timing of postings can vary, systems have glitches, data may be setup incorrectly and business processes evolve. Not having a process to control potential issues is costly in terms of wasted time performing complex research during critical periods, as well as addressing audit and compliance concerns.
By using RapidReconciler, companies can streamline their inventory reconciliation process, minimize the number of items requiring reconciliation and easily provide support for audits. Reconciliation no longer has to be limited to a month end activity. Investing minutes a day is all it takes to achieve better control of inventory and drastically reduce the time spent closing the period!

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Highlights

  • Improves inventory accuracy to 99.7%
  • Reduces reconciliation time by an average of 76.3%
  • Validates business processes and system configuration
  • Provides historical “As Of” reporting
  • Be operational in 3 days, guaranteed
  • Leverages line of credit – accurate inventory valuations

Key Features

  • Performs ‘3-Point’ Reconciliation Across Entire Supply Chain
  • Integrity Reports Identify Configuration Issues
  • Flexible Filtering by Company, Business Unit, Object Accounts and Subsidiaries
  • Export Data to Excel, PDF or Word
  • Drill Down to Transaction Details
  • Corrective Action Plans Eliminate Guesswork
  • Tools/Reports to Support Audit Process
  • Address Integrity, Procedural, Timing, System and Manual Error Issues
  • Multi-company/Multi-currency
  • In-Transit’ Functionality
  • Received No Vouchered (RNV) Functionality

In-Transit 

GSI is excited to announce that RapidReconciler has been enhanced to include functionality to reconcile items in-transit. Now users will be able to expose the mystery of what items are being transferred, how many are in-route, and identify discrepancies between branch plants. Verifying in-transit account balances just became a whole lot easier!

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Key Features:

  • Receipt routing not required
  • Ownership driven by DMAAI’s
  • Supports transfers at cost or with mark-up
  • Supports transfers between companies and branch plants
  • Drill down for detail transaction history
  • Integrity reports highlight configuration issues

RapidReconciler automatically detects each line item entered using the standard JD Edwards transfer process. Shipments and receipts are linked together with the appropriate in-transit quantities and amounts calculated. These amounts are then balanced to the general ledger with variances categorized for easy resolution.

All data is presented back to the users as an extension of the existing RapidReconciler interface, complete with filtering, drill down capability, and exporting to Excel. No additional applications or training sessions are required!

 To find out more about the RapidReconciler or any of GSI's other products or services, call us at 855-GSI-4ERP or click on CONTACT US to send us a request for more information.