Account Reconciliation with Vena

What is Account Reconciliation?

Account reconciliation is the process of comparing financial records (like a company’s ledger) with external or internal statements (such as bank statements) to ensure they match. Any differences are identified, investigated, and corrected to confirm the accuracy of financial data.

Improve your Account Reconciliation process with Vena

Example from practice: Vanderlande

To illustrate the impact, below is an example based on a real world implementation at Vanderlande

The organization was looking to replace its existing reconciliation tool because it was not cost efficient, lacked sufficient balance sheet review functionality and did not meet J-SOx requirements.

They defined a clear target process:

• Automatic load of source data for the current period
• Performers execute the balance sheet review and account reconciliation and create action plans where needed
• Reviewers validate the work and approve or reject submissions

The objective was to strengthen control, transparency and efficiency across the finance function.

The Vena approach

Using Vena, the reconciliation process was redesigned into a workflow driven solution that leverages built in capabilities such as staging tables, queries and standardized templates.

Solution highlights:

• Over 60 account groups configured
• 19 input templates created for different reconciliation activities
• Coverage of AR, AP and trial balance ageing specifications
• Automated data feeds from ERP and subledgers
• End to end workflow for performers and reviewers
• Central monitoring of progress across finance teams

This setup enabled teams to work in a consistent way while meeting tight period end deadlines.

Benefits of Account Reconciliation in Vena

• Automated imports from ERP, subledgers and other systems
• One structured, workflow driven process
• Clear ownership for performers and reviewers
• Full audit trail and strong J-SOx support
• Strong balance sheet control
• Less manual work and fewer errors
• Reduced license costs by retiring legacy tools
• Faster and more reliable financial close

“We now have one structured reconciliation process that gives us full visibility and control across our balance sheet.”

The result

By moving account reconciliation into Vena, the organization made the previous standalone solution redundant and improved both efficiency and control.

Finance teams now work with automated, up to date data in a governed workflow environment. The process is fully traceable, J-SOx compliant and better suited to support a reliable and timely financial close.

Vena & Finext

Since 2016, Vena Solutions has been a key partner of Finext, enriching our services with advanced financial planning and reporting software. This partnership was awarded the "International Partner of the Year" award in 2021, 2022, 2023, 2024, and 2025 confirming our commitment to excellence and customer-centric solutions. With Vena, we reinforce our role as a forward-thinking partner helping companies achieve financial goals.

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