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Accounting

What is General Ledger Reconciliation?

General Ledger (GL) reconciliation is a process that ensures the integrity of an organisation’s financial statements. 

GL Recons Beyond Spreadsheets

(This article is a follow-on to GL Recons with EXCEL is Dead which posed the questions about the unreliability of spreadsheet based GL reconciliations. As any CFO knows, the numbers that bubble up from the general ledger into the balance sheet need to be trustworthy.

Three Principles to Reduce Risk in Finance & Accounting Spreadsheets

Spreadsheets pose a clear and present risk to the reliability of figures that surface in the balance sheet. Here I present three principle steps that any organisation can employ to radically reduce the probability of errors bubbling up into financial reports. 

Why You Need a Month-End Close Management Solution

Our figures estimate that over 50% of medium to large enterprises are still operating a manual month-end close. The reality is that the current close at these organisations includes labour-intensive activities that still rely on disparate checklists, decentralized departmental communications, long email chains, endless status meetings and tedious reconciliation processes. Clos ...

Monitoring Month-End Close Progress

Your at-a-glance Month-End Close Progress Dashboard   The GreenLine Dashboard serves as the default landing page for users. Here is an example:   The Doughnut Provides an interactive view of reconciliation progress during the month-end close process. By refreshing this view, management can monitor progress across the group in real-time. ...

How GreenLine Handles Supporting Documents

About Supporting Documents GreenLine allows for the attachment of documents supporting line items in individual accounts as well a documents that are attached against the entire account. Only certain document types are cleared for import. These include Microsoft Office documents (EXCEL, Word and Powerpoint), text files and Adobe PDFs. Handling of Supporting Docs Documents t ...

Getting Your GL Recons out of EXCEL

Why General Ledger Reconciliation Is Important

The outcome of a regular month-end close and an accurate general ledger reconciliation process is financial records that a business can rely on. The audit oversight provided by a trustworthy set of financials allows a corporation to understand its financial status, highlight theft and reporting inaccuracies. ...

GreenLine GL Recon Process (Summary)

The GL Recon Process (summary) and GreenLine Roles The GreenLine month-end close process begins with the import of general ledger balances from an accounting or ERP system source. Preparers select accounts to work on based on their area of responsibility. Because GreenLine gives the financial management team such a clear overview of work progress (one progress monitor is Reco ...

How GreenLine Consolidates Accounts

Our Account Consolidation Method is Called Rollups We use a concept called rollups, when consolidating many accounts. Rollups show a single report that combines the numbers of all the consolidated accounts. Once a rollup is created it applies to all imported GL accounts that fall under its ambit. An assets reports is a good example. The report needs to consolidate all assets ...