Reconciling B2B accounts can be a complicated and time-consuming process, but with the right tools it can be done much easier and faster. One software solution that stands out in the market is Epicor P21, an enterprise resource planning (ERP) system designed specifically for wholesalers. In this blog article, we will discuss the various tools that Epicor P21 provides for B2B account reconciliation.

1. Automatic Data Entry and Reconciliation: One of the biggest challenges when reconciling accounts is manually entering and reconciling data from various sources. Epicor P21 streamlines this process by automating data entry and reconciliation. The system automatically imports and categorizes data from multiple sources, such as invoices, orders, and bank statements, reducing the likelihood of human error and eliminating the need for manual data entry.

2. Real-time data updates: Another important feature of Epicor P21 is the ability to provide real-time data updates. This means that any changes made to transactions, invoices, or orders are automatically included in the reconciliation process. This eliminates the need for manual updates and ensures that reconciliation data is always up to date.

3. Customizable rules and workflows: Epicor P21 allows users to create custom rules and workflows for the reconciliation process. This feature is especially useful for companies with complex account reconciliation needs. The system can be configured to automatically trigger specific actions based on predefined conditions. For example, if an invoice is overdue, the system can automatically send a payment reminder to the customer.

4. Comprehensive reporting and analysis: With Epicor P21, users have access to a range of built-in reports and analytical tools. They can provide valuable insight into the reconciliation process and help companies identify discrepancies and potential areas for improvement. The system also provides dashboards and visualizations that make it easy to track progress and identify any red flags that may require further investigation.

5. Tight integration with other modules: Epicor P21 is a complete solution integrating various modules including accounting, sales, and inventory management. This tight integration ensures that all data is synchronized in real time, making it easy to reconcile accounts between different departments. It also eliminates the need to manually transfer data, reducing the likelihood of data errors.

To summarize, Epicor P21 offers a comprehensive set of B2B account reconciliation tools, making the process more accurate, efficient, and timely.