Frequently Asked Questions
How does it work?
Simply upload your client’s AR/AP sample spreadsheet to our secure system, verify your email template and press send. Balance Letter emails the accounts receivable confirmations, tracks responses, automates reminders and provides advanced reporting. Take a quick look at our demo video for more details.
Is it secure?
Yes! We encrypt all user data using the most current and secure international standards.
Our application is secured using an SSL (Secure Sockets Layer) Certificate from Comodo. This provides a secure connection between internet browsers and websites, allowing you to transmit private data online. Sites secured with SSL display a padlock in the browsers URL. The SSL protocol is used by millions of e-Business providers to protect their customers, ensuring their online transactions remain confidential. A web page should use encryption expected to submit confidential data, including credit card details, passwords or any personal information. All web browsers have the ability to interact with secured sites so long as the site’s certificate is from a recognized certificate authority, such as Comodo.
We host our website and application on servers located in a high-security data center at Zitcom A/S in Denmark. The server room is supported by a modern and highly effective system of cooling, fire protection, emergency power, carefully selected hardware and network setup. A team of supporters are monitoring the datacenter including all systems 24/7. Only certified support members have access to the server facilities. Any visitors are registered and monitored throughout the facility by video equipment. The data center has specialized flooring/walls, there are no windows and a door locked by a unique keycard is the only entrance. External security includes cameras, IR sensors and alarms as well as a 2.5-meter high security fence.
What does it cost?
Balance Letter is licensed as an annual subscription. The annual subscription price is based on the total amount of confirmation rounds per year. There is no limit to the amount of users or emails sent as part of a confirmation round and you always have access to all the features.
3 Confirmation Rounds Free Trial
10 Confirmation Rounds $750
25 Confirmation Rounds $1,200
50 Confirmation Rounds $2,000
100 Confirmation Rounds $3,000
The above prices exclude VAT
Do electronic audit confirmations comply with international audit standards?
International Standard on Auditing (ISA) 505 defines that external audit confirmations can be sent to the auditor on paper, electronically or via other media. The high level of audit evidence by external confirmations is the same, regardless whether that confirmation is made electronically via email or sent physically via traditional mail. The important element is that confirmation is made directly to the auditor from the external party. Read more about ISA 505