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Implementing Blackline’s Account Reconciliation Solution

Introduction BlackLine Account Reconciliations is one of the most popular solutions utilized by major corporations across the world that automates and standardizes the general ledger reconciliation process.  Some of the benefits of this type of solution include automated review and … Continue reading

Posted in General Accounting

Dramatically Improving the Manual Journal Entry Process

Introduction While there are many benefits to implementing integrated software systems and bolt-on technologies, significant performance improvements are often possible from a direct inspection and redesign of underlying work processes.  While it’s never a good idea to automate a bad … Continue reading

Posted in General Accounting

Implementing an Effective Risk Ranking Process for Balance Sheet Reconciliations

Introduction Being able to effectively evaluate the reconciliation frequency for balance sheet accounts can involve the review of a variety of factors, both quantitative and qualitative.  While the ultimate objective of balancing effective controls with process efficiency is the same … Continue reading

Posted in General Accounting

Account Reconciliation Standards and Quality Control Reviews

Introduction Applying advanced technology solutions to overly complicated and non-standard processes makes implementation more difficult, reduces the benefit, and complicates process improvement efforts by requiring modifications that require carefully coordinated changes in procedures and technology.  While there is almost always … Continue reading

Posted in General Accounting

Utilizing Lean Six Sigma to Optimize Record-to-Report

Introduction Lean Six Sigma (LSS) is a methodology utilizing a set of strategies & data-driven tools to improve processes in terms of cost, quality & time. Lean is a systematic method for the elimination of waste, while Six Sigma is … Continue reading

Posted in General Accounting

Developing General Accounting Personnel Toward a Higher-Contribution, Value-Added Role

Introduction General Accounting (GA) can be a great entry point and stepping stone into any number of roles within Finance and the company as a whole.  The challenge for companies is ensuring that the proper experience, training, and mentoring occurs … Continue reading

Posted in General Accounting

Consolidating the Fixed Asset Process into Shared Services

Introduction For manufacturing companies with large production facilities, many with more than $100 million USD in active asset valuation, making the decision for how to best complete the work steps in the end-to-end Fixed Asset property process becomes complicated.  While … Continue reading

Posted in General Accounting

Robotic Process Automation (RPA) for the Month-End Close

Introduction The impact of Robotic Process Automation (RPA) tools on Shared Services is rapidly increasing across many labor-intensive work processes where repetitive steps are required to access multiple systems to collect information by following defined and repeatable work steps to … Continue reading

Posted in General Accounting, Intelligent Automation

Key Practices Related to the Tagging of Fixed Assets

When dealing with fixed assets, the two keys to ensuring proper internal controls in this area are having an accurate fixed asset master file and being able to determine the location of the asset itself.  To accomplish this verification and … Continue reading

Posted in General Accounting

Intercompany Software for Global Recharges and Balancing

For companies with operations around the world, using a structure that includes a large number of legal entities, the process for properly booking transactions for activities that occur between entities can be a daunting task.  Having one Shared Services organization … Continue reading

Posted in General Accounting