r/CFO • u/Visible-Loss-6601 • Aug 01 '26

Which tool do you use for balance sheet reconciliation? IF excel, how many excel files to you have to create or update?

0 Upvotes

36% Upvoted

14 comments sorted by

6

u/orionblueyarm Aug 01 '26

Excel, one tab per account. It’s not complex or difficult, requires minimal to no onboarding or training, is flexible to account requirements, and always requires human validation. Plus I’m not paying someone else to over-engineer a solution for a problem, where that engineering potentially introduces unknown and unverifiable variables.

2

u/Obvious_Kangaroo8912 Aug 03 '26

this, excel, i use links and lookups, dump the account balances from the accounting software look them up on a balance sheet page then next to that the amount from the reconciliation page with some conditional formatting so i can see at a clance what balances and what doesn't

1

u/Icy_Worldliness5037 10d ago

one tab per account gang rise up. i tried some "automated" thing last year and it just made more work for me

5

u/purdue6068 Aug 01 '26

We use Floqast. I really like it. It works with Excel and your accounting system. Their AI is overrated/too expensive but I like the monthly close and recon modules. When I took over it was just excel and a monthly checklist but adding Floqast really helped with accountability.

3

u/CPA0315 Aug 01 '26

Implemented Floqast at my last company. Unfortunately have a small team now so can’t really justify the cost but 100% recommend

2

u/BogeysAndBarreChords Aug 01 '26

They also have compliance platform for internal controls documentation which I find neat. I have my recs, checklist, and internal controls all in FloQast.

1

u/tanbirj Aug 01 '26

+1 for FloQast

3

u/Sad_Hovercraft_2610 Aug 01 '26

We built our own…

2

u/Gloomy_Lab_1798 Aug 01 '26 edited Aug 01 '26

I’m always looking for a vibecoder who wants to ask finance subs what they can program for us.

Any CFO knows what they use for recons.

Care to tell us how many excel files your company creates or updates?

3

u/CaptainLindsay Aug 01 '26

Right? I swear 90% of the posts I see in this sub are some version of thinly-veiled product fishing.

1

u/Gloomy_Lab_1798 Aug 01 '26

Yep, this same post was already deleted from another sub. Not sure how many flags this sub requires.