Guide: 9 steps. The Reconciliation of Intra-Group Transactions

We recommend that you set up a change management plan to make the project a success, with emphasis on the internal promotion of the project, so as encourage the entities to want the product.

Step 1:

Announcement to the entities: inform the entities about the project, the challenges it addresses and the expected benefits. You also need to make sure that you have the commitment and support of top management. Otherwise, the project is likely to fail.

Step 2: 

Send a question list to the entities to gather for each entity or reporting unit the information necessary to build the conversion tables and the source files structures

Step 3: 

Technical Installation of the interco reconciliation software

Step 4: 

Training: administrator + key users at HQ

Step 5: 

Process the information sent by the entities

• Creation of the users, the structures, interco rules ...
• Creation of the conversion tables and structures of the import files
• In a large group, it might be useful to set up a workshop with a selection of key users (3 key users or so) at the reporting units to test and adapt the user manual.

Step 6: 

Create the documentation and schedule the end-user training sessions

• Set up the training collateral + the user guide specific to your group
• Set up specific training exercises
• End-user training

Step 7 : 

Real-life test using the data of an intermediate closingg

Step 8 : 

Analysis of the comments received from the subsidiaries so as to improve the process. Draft a FAQ to improve forthcoming closing. And, if required, update the training manual or instructions manual. Send a report to the subsidiaries and the management of the group.

Step 9 : 

Go Live

Sigma Conso and Atarrabi Advisory Group, provides software and services in the area of Corporate Performance Management. The group is recognized as an expert on financial and statutory consolidation and in the field of management reporting. It offers its customers, including more than 500 international groups, customized solutions that facilitate their financial management and can evolve with the group. 

Sigma Conso is currently undergoing rapid international expansion and now has a presence in major European, African and Asian financial centers.

For more information, go to SigmaConso

About Mona InterWeb

Mona InterWeb is a 100% web-based solution for the reconciliation of intra-group operations. The reconciliation process is carried out during the entire fiscal period by the partners involved. The result: amounts are reconciled prior to the consolidation step and independently of it as part of a regular process. The solution can be hosted at the client site. It is also available in PaaS and SaaS modes. Mona InterWeb fits quickly into existing application environments (ERP, consolidation package) and can be deployed in entities in just a few days (intuitive interface; facilitated change management).


Do you want to improve your consolidation process?

Contact us today ( sigmaconso@atarrabi.biz ) and we’ll take a look together at how you can reach your goals!

Guide: The reconciliation of Intra-Group Transactions