DATASCADE
Reconciliations
Operations teams and Finance teams frequently need to check the consistency of their data with reconciliations.
The way Datascade handles reconciliations is very simple: each data set is loaded in a sheet of a spreadsheet, and then a "comparison sheet" is configured with key columns and tolerances. The data to be reconciled can come from any source, including emails.
In the following example a company receives every day a statement from its broker and needs to reconcile it with its own transaction records.
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A first spreadsheet connects to the mailbox and filters the target emails by sender / subject / date.
The identifier of the target email is used in a second spreadsheet to retrieve the statement file attached to the email.
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Then the internal list of trades which needs to be reconciled with the statement is loaded in another sheet of the same spreadsheet.
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The next steps consists in making the two datasets comparable by aligning the column names and formats. This is achieved with standard spreadsheet formulae.
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The comparison can now be configured (keys, tolerances) and a comparison summary can be added in another sheet to facilitate the review of the results.
It is possible to let users enter comments about the breaks so that users save time in future runs if the same differences happen again.