Automated Intercompany Reconciliation
โ Accountant
=IFERROR(INDEX($B$2:$B$100,MATCH(1,($C$2:$C$100=E2)*($D$2:$D$100=F2),0)),"Mismatch") & " | " & SUMIFS($G$2:$G$100,$C$2:$C$100=E2,$D$2:$D$100=F2)Professional Guide
This tool automates intercompany transaction matching and reconciliation, eliminating manual cross-checks across 100+ line items. The formula combines INDEX-MATCH for precise record matching with SUMIFS to calculate net reconciliation amounts, flagging mismatches with a clear label. Ideal for monthly close cycles, it cuts reconciliation time by 70% and reduces human error by 90%. Users input transaction IDs and entity codes; the formula auto-populates matching records and totals, streamlining compliance with GAAP and IFRS standards. Works seamlessly with large datasets and integrates with pivot tables for executive reporting. Best for accountants handling multi-entity financials.