Using Balance Sheet Lead Schedule Reports to Streamline the Month End Close Process

    How can Reconciliation Report s Drive Faster and Better Decisions? As Controllers increasingly become key innovators in the Month End Close Process, they must rely on modern self-service corporate performance management (CPM) and business intelligence (BI) tools. Using interactive Reconciliation Reports like the Balance Sheet Lead Schedule Report template shown below enables them and users from the accounting teams to experience near real time balance sheet reconciliation that help deliver accurate numbers that drive faster and better decisions. Who uses Balance Sheet Lead Schedule Report s and What are Some Key Analytical Features? In today’s fast-paced business environment, Controllers are under high pressure to supply end users like accountants and reporting managers with timely and concise Reconciliation Report. Companies use key features like the ones below to support their users with effective analysis that helps drive improved accuracy of financial statements and KPIs:
    • First page: Full balance sheet with current year, last year and variances
    • Following pages: Account level detail by GL account category. Totals check against the balance sheet on page 1
    • Parameters provides easy execution by year, period and company
    The Balance Sheet Lead Schedule Report template can be used as a key element of the Month End Close process: [caption id="attachment_32787" align="alignnone" width="2560"] Example of a Balance Sheet Lead Schedule Report to Streamline the Month End Close Process Example of a Balance Sheet Lead Schedule Report to Streamline the Month End Close Process[/caption] The Balance Sheet Lead Schedule Report is a ready-to-use Reconciliation Report from the Solver Marketplace. A Brief Description of the Balance Sheet Lead Schedule Report Template Reconciliation Reports like the one seen in the image above are interactive and parameter driven and typically contain multiple pages with a professional Balance Sheet on tab 1 with each account category automatically generated on the other tabs. One of the important features that aid the user in the analysis process is the ability to easily navigate the detailed balance sheet lead schedule layout to simply control and data correctness. Balance Sheet Lead Schedule Reports are often used in conjunction with trended balance sheets, profit & loss reports, trial balances, and inter-company reports. Data Integration to Transaction Systems Most organizations these days want automated and streamlined planning, reporting and analysis. However, many of the benefits described earlier rely on best of breed Corporate Performance Management (CPM) tools and/or Business Intelligence (BI) capabilities as well as data marts or data warehouses that use pre-built integrations to the organization’s ERP system. Oftentimes, they also need integrations to other key data sources like CRM, subscription systems, payroll tools, etc. Modern, cloud-based ERPs like Microsoft Dynamics 365 Finance (D365 Finance), Microsoft Dynamics 365 Business Central (D365 BC), Sage Intacct, Acumatica, Netsuite and SAP have robust APIs which allow for dynamic integrations to CPM and BI tools that are fully automated and flexible to run on a schedule or on-demand. Additional Resources to Aid with Research of Templates, CPM and BI Tools
    August 4, 2022