Mid-Year Financial Operations: 5 Areas to Audit Now | Evention

By mid-year, finance teams face a critical checkpoint: Are your financial operations setting you up for scalable success, or exposing you to compliance and audit risks?

A mid-year financial operations review isn’t just about closing books. It’s a chance to audit processes, uncover inefficiencies, and future-proof your operations. Here are the five critical areas of focus, and why modern finance teams are making the shift to automated reconciliation with solutions like Evention’s Total Recon.

1. Audit Manual Reconciliation Risks

Where is your team stuck in labor-intensive tasks or exposing revenue by reconciling manually?

Manual reconciliation is not designed for organizations that are looking to grow and maintain accurate and compliant processes. Finance teams relying on spreadsheets and manual matching are misplacing resources, missing exceptions, and risking revenue leakage.

Manual process risks include:

• Errors and discrepancies going undetected
• Labor-intensive workflows that don’t scale
• Increased risk of audit failures and regulatory compliance.

The numbers tell the story:

One national retailer managing manual reconciliation across 120 stores faced $5.4 million annually in at-risk labor costs, without even accounting for the impact of errors or delayed reporting.

With Total Recon: 99% of credit card transactions are auto-matched overnight, freeing finance teams to focus on the remaining exceptions and data analysis, not data entry.

2. Audit Transaction Visibility and Reporting

Can you track every transaction, in real-time, from POS/PMS to bank deposit?

Waiting days or weeks to uncover reconciliation issues leaves exceptions unresolved, causing revenue leakage that adds up, costing you thousands of dollars each month. Real-time transaction-level visibility is now essential for financial health, faster issue resolution, and operational agility.

Without it:

• Exception handling becomes reactive, not proactive
• Revenue leakage often goes unnoticed until audits
• Finance teams waste time backtracking instead of optimizing

With Total Recon: Every transaction, from the POS or PMS system to the bank deposit, is tracked with real-time transparency, empowering teams to spot discrepancies before they become problems.

3. Audit-Readiness and Data Security

Are you audit-ready today, and is your data being managed securely?

Internal audit readiness isn’t optional; it’s foundational. A strong mid-year review checks for:

• Clear audit trails across cash, credit card, and tip transactions
• Compliance with data security standards and financial best practices
• Automation that reduces the risk of manual error and documentation gaps

With Total Recon: Automated reconciliation creates a built-in, audit-ready record, making compliance easy and scalable, whether for an internal audit or external review. Total Recon is SOC 2 compliant, maintaining the highest data security standards in the industry. 

4. Audit Scalability of Financial Operations

Can your financial operations scale without adding more headcount?

As finance operations grow, simply adding more people to your finance team doesn’t address the inefficiency and lack of visibility caused by manual reconciliation. Scaling your financial operations efficiently demands a reconciliation software that adapts as you grow, without ballooning overhead costs.

With Total Recon: Finance teams manage reconciliation across multiple properties, outlets, and systems without increasing headcount. Total Recon provides you with standardized and fully integrated reconciliation that matches transactions overnight and provides you with clear reporting based on your organization’s needs.

5. Audit Your Reconciliation Technology Stack

Is your reconciliation software reducing errors, labor costs, and audit risk, or is it holding you back?

Today’s leading finance teams aren’t just trying to “keep up.” They’re building financial operations designed to scale smarter, reconcile faster, and audit easier.

Evention’s Total Recon delivers:

• 99% auto-match accuracy for credit card transactions
• Overnight cash and credit reconciliation across stores and locations
• Real-time discrepancy alerts and check-level visibility
• Built-in audit trails supporting SOC 2 compliance
• A consistent, scalable reconciliation process tailored to each organization

The result: Minutes instead of hours spent reconciling, fewer exceptions, lower labor costs, and audit confidence, day after day.

Ready to See How Your Financial Operations Stack Up?

Take our 5-Minute Financial Audit Quiz and start scaling smarter today.

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