Cracking the Code: How Reason Codes in ICMR Simplify Intercompany Reconciliation

By: Naveen Pidikiti

Publish Date: April 10, 2023

YASH Technologies’ latest blog post explores the benefits of using Intercompany Matching and Reconciliation (ICMR) to simplify and speed up intercompany reconciliation from the local to the group level. The ICMR tool enables near real-time matching and reconciliation without needing an ETL process. It has built-in communication features like workflows, notes, email notifications, and reminders that increase transparency, visibility, and accountability.

The blog emphasizes the usage of reason codes in ICMR, which is crucial for matching and reconciliation. Reason codes help explain the matching reason and trigger follow-up actions like triggering a workflow, requiring a comment, or writing off a variance. Reason codes can be customized and set to apply automatically, which makes them a valuable tool for classifying and making sense of the matched item lists.

The author provides additional insights into the functionality of reason codes, including indicating no follow-ups, requiring comments, tagging for temporary resolution, and using adjustment class and output structure. Overall, a good understanding of reason codes is vital for users and consultants to handle exceptions, trigger workflows, and communicate discrepancies, providing an efficient way to classify and understand the matched item list and ease the intercompany reconciliation process.

Optimize Your Intercompany Reconciliation with YASH’s Matching Methods and Reason Codes

YASH Technologies is a leading provider of technology and consulting services that can help organizations streamline their intercompany reconciliation processes using matching methods and reason codes in ICMR. With their in-depth expertise in the ICMR tool, YASH Technologies can help organizations implement and customize the ICMR tool, configure reason codes, and set up matching rules to automate the reconciliation process. To know more, click here to read our comprehensive blog authored by YASH’s SAP solution expert, Naveen Pidikiti

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