CFABS Reconciliation Tool for Windows

User Reviews

• Developed by a commission analyst

  cfabsApril 22, 2010

  Pros

  Cons

  Summary

  This review was originally posted on VersionTracker.com.<br />This software replaces CFAB Reconciliation Tool 1.01 I regularly look for the differences between two spreadsheets for the purposes of finding out what records have been paid and what records haven't been paid. This principally involves two checks, first of all finding out where records have a matching reference on another spreadsheet (and then checking the matching reference to see if it has been paid the right amount, and if it hasn't been paid the right amount, I have to annotate one or both spreadsheets with my observations of the differences). Normally that is quite a tedious task of doing CTRL F to find records between two spreadsheets and filter on the relevant information on both spreadsheets, and the tab back and forth between both spreadsheets to apply comments of my observations of the differences. If you are like me, that is quite a challenge to ones memory, by the time you have found the relevant record, tabbed between the spreadsheets and applied appropriate filters, making the observation, recording your comment, only to go through the whole process again to check whether there is a matching record, apply the filters etc., This software meets the challenge. You can choose which columns between the two spreadsheets you are looking to finding matching data, the software does the match for you, both the spreadsheets are loaded on one screen (so no tabbing, and trying to remember the differences between the two spreadsheets), the dropdown menu of the matched records does simultaneous filtering on both spreadsheets all for you. It has turned an intricate process that used to take me about a minute to do for each record check, into a process that only takes a couple of seconds to do. The software also shows you which records have no matches. Furthermore, if that wasn't enough to save you time, if you are looking for differences in values between matching records on both spreadsheets (e.g. order reference and payment), you can use the pivot table option, to select the description and value columns you are comparing between two spreadsheets, which will generate a pivot table showing the over and underpayments between the two spreadsheets, and you only have to double click on a record on the pivot table to investigate an over / under / non payment and the software will do a simultaneous filter on both spreadsheets. Although the software was developed with financial reconcilliation in mind, in my data anaysis career, I can think of many other purposes it could be used for, to check records which are on one spreadsheet but missing from another, or references that should match but have different values between two spreadsheets.

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