Full Service Reconciliation

In the HCM industry, it's critical to ensure accurate client funds reconciliation, every single day. Precise monitoring helps reduce the risk or error or fraud and maintains trust and integrity with your clients.

We understand that this level of high-quality client funds reconciliation is not easy for HCM providers to achieve on their own. That's why we offer a full-service solution reconciling the funds held by our clients on behalf of their valued customers. With our deep industry experience, meticulous attention to detail, and streamlined processes, reconciliation blind spots are eliminated and discrepancies are swiftly identified. Allow us to take on the work of client funds reconciliation with transparency and precision, so that you can rest assured while you focus on other aspects of your business.

Daily Reconciliation

Variance Research

Custom-Built Finlee Solution

Resolution Monitoring

Support Team

Industry Expertise

Each business day, a RAKE team member will complete:

Bank Reconciliation: Checking for discrepancies between funds that cleared client bank accounts and client funds ledgers. Once the daily reconciliation is complete, cleared transactions will be posted to a client ledger.

Ledger Reconciliation: Monitoring of adjusted bank balances to reconcile with individual client ledger sums.

Subledger Reconciliations: Daily identification and communication with your team on the following:
- Liability Variances: Tax ledgers where the client ledger balance does not equal the sum of pending tax liabilities.
- Aged Uncleared Ledger Transactions: Uncleared ledger entries with a transaction date prior to the most recent bank reconciliation.
- Negative Liabilities: Ledgers where the total funds paid out exceed the funds collected.

Resolution Verification: Verifying successful resolutions and labeling them with completed status.

Your team will have full access to a central dashboard, bank reconciliation reports, ledger reconciliations, subledger variances, and a comprehensive research center in Finlee, our funds reconciliation and management application.

Learn More

Don't hesitate to reach out and we'll answer any questions you may have.