Blue Copa Reconciliation Module

The Blue Copa Reconciliation Module is designed to empower organizations with seamless balance sheet and transaction reconciliation. This guide will walk you through the transaction reconciliation capabilities of Blue Copa, ensuring efficient management of high-volume reconciliations across various financial domains.

Step 1

Welcome to the Blue Copa Reconciliation Module. The Blue Copa platform enables organizations to efficiently conduct both balance sheet and transaction reconciliation.

Step 2

In this session, we will guide you through the module's transaction reconciliation capabilities. We have interfaced GL transactions into Blue Copa by connecting it with ERP through built-in native connectors. Once the GL transactions are integrated, the system automatically starts performing matching based on its in-built matching algorithm.

Step 3

Blue Copa is equipped to handle high-volume reconciliations across bank and sub-ledger domains, including two-way or three-way AP, AR, and fixed asset GL accounts. The system can also fetch the trial balance from ERP to perform balance sheet reconciliation. Please note that P&L accounts are not covered by the reconciliation module.

Step 4

Regarding the output of the reconciliation, the system has auto-matched over 171,000 out of more than 173,000 records, achieving approximately 99% accuracy. However, there are approximately 1,600 records that remain unmatched.

Step 5

For unmatched records, human intervention is required. Users can manually select a matching entry from each side and click on match. This manual match will be recorded in Blue Copa as manually matched, while auto-matched entries will remain as such.

Step 6

Further unmatched entries can be addressed using Blue Copa's workflow automation. Let's explore the workflow module, where you can create workflows utilizing AI.

Step 7

Here's a quick demonstration of a workflow created to automatically trigger emails. This workflow filters all unmatched entries and sends an automatic email notification to the specified email address.

Step 8

Email addresses can also be retrieved from a dynamic dataset. This simple alert is sent through Blue Copa using this workflow. Additionally, using Blue Copa's dashboard, you can easily visualize the reconciliation results.

Step 9

The dashboard displays information on the total matched amount, total matched count, and the percentage of matched amounts, such as 99.99%. There are also quick links for leadership to access matched and unmatched records as well as the reconciliation dataset.

Step 10

All aging data is stored in the Blue Copa Reconciliation Module for compliance and audit purposes, aligned with data depository requirements. Blue Copa also allows attachment of audit-approved supporting documents and related reconciliations, including bank statements, sub-ledger reports, invoices, and provision calculations. That's all.

Step 11

Thank you for your time.