Section 125 Benefits Reconciliation software was
designed specifically for the unique needs of school districts. It can automate
over 90% of your reconciliation process for section 125 benefit deductions and
TPA invoice. The reconciliation process is optimized through multiple match
rules that are configurable for each district’s needs.
With its two high speed matching processes, internal
controls and rich reporting features, your reconciliations will be current,
accurate and will comply with audit and management reporting. Your personnel
productivity will also increase enabling them to focus on other tasks.
Data management process that automates the import of the invoice from your TPA
and GL deduction records from your Accounting Package. Validations on input
records/files are performed and reported.
Two high speed matching processes:
- To reconcile invoice details to employee deduction register (based on configurable matching rules by product and deduction code) and
- To reconcile GL records to invoice payments and payroll deduction register.
- Generate wire transfer form from reconciled invoice records for GL posting.
Carryover process that tracks un-reconciled TPA invoice, GL and deduction
records from previous month reconciliations.
Manual matching process that allows user to resolve un-reconciled transactions
for unique situations and to override automatic reconciliation results.
Retroactive feature that allows user to rerun reconciliations (GL) from prior
months for corrections or to include auditor adjustments for prior years.
Internal control process that ensures that subsidiary ledger deduction
transactions are posted correctly to the GL at a summary level. GL adjustment
entries are automatically created to identify differences.
Audit trails and controls for compliance with audit, accountability and
Rich reporting features, including 16 standard reports of detail, summary,
control and audit reports that may be viewed through a web browser or Microsoft
User friendly web based front end with a calendar for tracking and a step by
step process for guiding the user through the reconciliation process.
Application security that allows only authorized users to view or perform
different reconciliation processes.
Contact us for more information or to schedule an appointment to discuss how we can help you today!