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How We Fixed the Intercompany Accounting Process for GBS

Introduction Intercompany Accounting, the process for recording the transfer of goods and services between legal entities, is a great challenge for many companies, even though all parties to the transaction are part of the same company, which would suggest complete automation should not only be possible, but it should also be the norm. Company Experiences […]


Posted in General Accounting

Bank Account Reconciliation Preparation and Review

Introduction With the increased sophistication of reconciliation tools from banks and third-party account reconciliation software solutions, the process for reconciliation and review of bank accounts has changed significantly over the past decade.  Today, with no shortage of available tools, there is significant flexibility for who reconciles bank accounts, where reconciliations take place, and how reviews […]


Posted in General Accounting

Improving the Manual Journal Voucher 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 process, it’s always a good idea to formally review process steps on a regular basis […]


Posted in General Accounting

Software Selection for Fixed Asset Accounting

Introduction Properly accounting for Fixed Assets is not a trivial exercise, with a range of reporting, inventory, and valuation issues that need to be addressed to meet both accounting standards and government tax regulations.  For capital-intensive industries, the numbers can be in the billions of dollars, with a direct impact on financial statements and with […]


Posted in General Accounting

Intercompany Accounting – Where it Reports and Biggest Challenges

Introduction Even with a decade or more of experience, in performing Intercompany Accounting from within a Shared Services structure that includes a global scope (although often delivered through regional centers), the one process that is fully self-contained, Intercompany, continues to be a challenge to deliver efficiently for many leading companies.  Even though the scope is […]


Posted in General Accounting

Simplifying the Intercompany Accounting Function through Automation and Process Design

Introduction Intercompany Accounting – the recording and reconciliation of accounts payable and accounts receivable activities that take place between separate legal entities of the same company – is often ripe for simplification and improvement.  Puzzling in a way, since, unlike trade accounts payable or trade accounts receivable transactions, all the parties involved are ultimately employees […]


Posted in General Accounting

Streamlining the Accounting Close Process

Introduction With so many different approaches companies can take to streamline the Accounting Close process, it can be difficult to determine where to best focus project resources.  This research abstract highlights a company that recently shared details about their Accounting Close process and what they have done to improve their operation in this critical area. […]


Posted in General Accounting

Consolidating the Account Reconciliation Process

Introduction For companies with operations in many locations domestically and around the globe, the number of accounting transactions to record every minute detail of business activity can be daunting, as can the process of reconciling those transactions for completeness and accuracy at month’s end. Management and legal reporting activities must comply with specific rules and […]


Posted in General Accounting

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 approval workflows, with proper segregation of duties; reconciliation templates and checklists to standardize processes; integrated […]


Posted in General Accounting
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