Benefit Reconciliation

Your organization makes the investment to offer benefits to your employees for recruitment, retention, and for happy employees. To safeguard the investment, payroll and benefit reconciliation is an essential monthly internal control to identify irregularities across enrollment, payroll, vendors, and your GL to minimize costly errors. Mindsphere Technology Group introduces our Payroll & Benefit Reconciliation software and processes to help in that effort. We are confident that our solution will exceed your expectations and increase your productivity at a lower cost.

Major Features

• Our multi-tier high speed matching processes works to reconcile in one simple click:
  1. Enrollment to employee payroll deductions
  2. Enrollment to vendor invoice transactions
  3. Enrollment to employer contribution payments
  4. Payroll deductions to vendor invoice transactions
  5. General Ledger & payroll to employee enrollments
• Carryover process that tracks un-reconciled deduction, invoice and contribution records from previous month reconciliations.
• Manual matching process that allows user to resolve unreconciled transactions for unique situations and to override automatic reconciliation results.
• Retroactive feature that allows user to rerun reconciliations from prior months or the entire benefit year in one click for corrections or to include adjustments from prior years.
• Audit trails and controls for compliance with audit, accountability and reporting requirements.
• Rich reporting features with multiple reports of reconciliation results through summary and detail views that may be viewed through a web browser or Microsoft Excel.
• 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!