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Accounting

Automate accounting, reconciliation, and reporting for a faster, more accurate close.

Key Finance Processes

Welcome to the Accounting area of financial automation with Abstra. This section brings together essential processes for bookkeeping, reconciliations, financial closing, and auditing, featuring automations that enhance accuracy, control, and operational efficiency.

Bookkeeping and Classification

Automate journal entries, classifications, and reconciliations.

Automatic journal entries based on rules and AI
Automatic recognition of expenses and revenue
Standardization of accounting descriptions

Reconciliations

Automate the comparison of balances and transactions to detect discrepancies and ensure accounting accuracy.

Automatic bank reconciliation
Vendor and customer reconciliation
Automated discrepancy alerts

Fixed Assets Management

Automate depreciation, asset tracking, and reporting.

Depreciation schedule automation
Asset inventory tracking
Automated asset reporting

Closing

Accelerate and automate month-end close.

Automated close checklists
Review workflows
Auto-generated financial reports

Consolidation

Automate eliminations, unify group entities, and generate consolidated financial statements.

Automated intercompany eliminations
Multi-entity consolidation
Consolidated reporting

Audit & Compliance

Automate audit preparation and compliance monitoring.

Audit document automation
Continuous compliance checks
Automated audit trails

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