# Finance and accounting

> Sumarity for finance and accounting: standard workflows with every judgement checked.

Source: https://www.sumarity.ai/industries/finance/

Finance and accounting 

# Finance and accounting: the doubts, not the drudgery.

Every company's finance team: reconciliations, payables and receivables, the close. The work is mostly arithmetic with judgement calls in between, which is exactly the shape Sumarity is built for.

Talk to usFilter the library  

What teams tell us

## Where the time goes

Reconciliations that take days and still leave unexplained lines

Invoices, receipts and deductions matched by hand

A close that depends on who remembers what

Workflows

## Standard workflows for finance

18 workflows · Proven by code: 11 · Cross-checked: 4 · Checked by the outcome: 2 · Vetoed by code: 1

### Bank reconciliation

Which ledger entry a bank line is; why a line is unmatched

Proven by codeTested

### Card and payment-processor settlement reconciliation

Which sales a payout covers; fee and chargeback lines

Proven by code

### Cash application

Which open invoices a receipt pays; short-pays and deductions

Proven by code

### AP invoice processing with two- and three-way match

Which PO and receipt an invoice is for; price and quantity differences

Proven by code

### Duplicate and erroneous payment check

Whether two payments are the same obligation

Vetoed by code

### Supplier bank-detail change verification

Whether a change request is genuine

Cross-checked

### Expense claim audit

Whether each claim fits policy; receipt matches the claim

Proven by code

### Intercompany reconciliation

Which entries are the two sides of one transaction

Proven by code

### Balance sheet account reconciliation and certification

What explains each balance; whether support is enough

Proven by code

### Manual journal entry review

Whether an entry is supported, authorised, unusual

Cross-checked

### Accruals review

Whether an accrual is needed and its size is supported

Checked by the outcome

### Prepayments and amortisation

Which invoices are prepaid; the period they cover

Proven by code

### Fixed asset additions review

Capital or expense; asset class and life

Cross-checked

### Variance (flux) analysis

Which movements need explaining; what explains each

Proven by code

### Revenue contract review (IFRS 15 / ASC 606)

Performance obligations, variable consideration

Cross-checked

### Customer deductions and short-pay disputes

Valid deduction (promotion, damage) or not

Proven by code

### Collections and dunning

Which accounts to chase and how; dispute or delay

Checked by the outcome

### Payroll reconciliation

Which payroll totals tie to GL and bank; why not

Proven by code  

Tested

## Measured, not promised.

### Bank reconciliation

0settled wrong
108 of 108exceptions surfaced
176 → 7judgement calls sent to a person  

Questions

## What buyers ask

Which process should we start with?

The one with the most items your team checks by hand and a clear way to tell right from wrong: usually a reconciliation or a matching process. Its judgements are proven by code, so most settle without a person.

Do you connect to our systems?

Files in any layout (spreadsheets, CSV, PDF, bank formats), e-mail inboxes and folders, and an API for software. Connectors for particular systems are built as customers need them.

How long does a pilot take?

A few weeks alongside your own process, on your own data, at our cost. It ends in a line-by-line comparison: what it settled, what it sent to people, what it caught, and the time it took.

## Bring one finance process. Run it alongside yours.

We design it with your expert, run it in parallel, and show you the comparison.

Talk to us