Excel reconciliation is avaiable in a creative way by Armarecon to save your time by atleat 80%. The main concept of Armarecon is to match figures with each other then present unmatched figures as open items.
Imagine we have an account with the below movement details:
For finding open items, we need to match figures which are related to each other like:
- Debit and credit amounting $ 21 is related to James
- Debit and credit amounting $ 81 is related to Natalie
As you can see in the below table we have added a new column called “Matching” then we connected figures by numbers. For example number 1 matches a debit amount of 21 $ and its related credit amount.
In the next step of Excel reconciliation , we will filter matching column for empty cells so we will have the below picture:
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