ACCOUNT RECONCILIATIONS

Increase accuracy
and efficiency across
account reconciliations.
Standardize, control, and automate
substantiation processes.

The Challenge

30 %
Account reconciliation is a critical step and key control for Finance
and Accounting. Yet, balance sheet substantiation is often a reactive
exercise performed late in the record-to-report cycle. In some cases,
limited time and capacity prevent companies from completing their
reconciliations.

Traditionally, account reconciliation is a manual, spreadsheet- of your finance

dependent process. Companies maintain hundreds or thousands of
individual files that are shared and certified via emails or network
team’s time is
drives. Account reconciliations are then manually rolled forward and spent on manual
updated, period after period, causing version control issues, reporting
challenges, and audit complications.
reconciliation
These time-consuming, decentralized, and error-prone processes limit
Finance and Accounting from providing valuable analyses and business
insights and create other issues, including:

• Unidentified discrepancies, including timing differences, missing

Key Capabilities
transactions, and mistakes
• Unexpected audit findings and control deficiencies Report on reconciling
• Inability to manage changes, report on status, and standardize work and supporting items
• Inconsistent account reconciliation templates
Analyze balances
across periods

The Solution Auto-certify accounts

BlackLine Account Reconciliations is a comprehensive Auto-import GL and

solution that transforms the substantiation process with subledger balances
out-of-the-box capabilities and leading practices that ensure
accuracy, enhance control, and maximize efficiency. With Centralize comments
Account Reconciliations, you can centralize your processes
and data across all ERP systems and other data sources, Electronically store
improving balance sheet integrity. documents

Account Reconciliations
How it Works CUSTOMER RESULTS

98%
General ledger balances, subledger information, and individual line
items can be imported into the BlackLine cloud. You can compare
balances, identify discrepancies and adjustments, and automate
approvals and workflows. Account Reconciliations also provides:
of account reconciliations
Standardized Templates: Replace error-prone spreadsheets with standardized automated

85%
templates that incorporate best practices based on account type. Accounting teams
can automatically roll forward items, attach support, and eliminate formula errors.

Embedded Segregation of Duties: Automatically track and manage assignments,

workflow, status, and due dates based on role. BlackLine enforces segregation
of duties to ensure appropriate resources are performing steps and the same reduction in time spent
individual cannot prepare and approve a reconciliation. on reconciliations

70%
Supporting Documentation & Complete Audit Trail: Easily access supporting
documentation at the item or account level from our cloud-based platform. Group
like accounts together, so supporting documentation can be attached once, rather
than duplicated for multiple accounts. Internal and external auditors have unique
roles allowing them to view sign-offs, comments, and supporting documents, faster monthly close
inclusive of time and date stamps.

How You’ll Benefit

Increased Efficiency Optimized Capacity

Perform and complete reconciliations faster Focus employee bandwidth on
with configurable auto-reconciliation rules and exceptions, adjustments, and other
10 standard reconciliation templates. strategic work instead of mundane tasks.

Enhanced Visibility Reduced Risk

Use real-time dashboards and purpose-built reporting Shift controls from detective to preventive with
to gain visibility into reconciliation status, timeliness, and role-based workflows and built-in segregation of
quality. Choose from 80 standard reports or configure duties. Prevent errors by eliminating version control
your own with any user-defined field. challenges and manual data entry.

“It seems simple, but when thousands of

accounts have this validated information
all in one place, it saves a lot of time. And
the people who had been performing
reconciliations and clerical work are now free
to spend that time analyzing the account
rather than just putting a number on it.”

For more information, please visit

blackline.com/account-reconciliations

Account Reconciliations