Using Basic Year-to-Date Trial Balance Reports to Streamline the Monthly Reporting Process

How can Control Report s Drive Faster and Better Decisions? As Corporate Controllers increasingly become key advisors in the Monthly Reporting Process, they must rely on modern self-service corporate performance management (CPM) and business intelligence (BI) tools. Using interactive Control Reports like the Basic Year-to-Date (YTD) Trial Balance Report template shown below enables them and users from the accounting teams to experience near real time monthly balance control and validations that help drive faster and better decisions. Who uses Basic YTD Trial Balance Report s and What are Some Key Analytical Features? In today’s fast-paced business environment, Corporate Controllers are under high pressure to supply end users like accounting staff and reporting managers with timely and concise Control Reports. Companies use key features like the ones below to support their users with effective analysis that helps drive data and reporting accuracy:
  • Dynamic (automatically includes new GL accounts) listing of all active GL accounts down the rows with a control total
  • Summary by account type
  • Automated balance check to ensure that the trial balance total is zero
The Basic YTD Trial Balance Report template can be used as a key element of the Monthly Reporting and close process: [caption id="attachment_32971" align="alignnone" width="751"] Example of a Basic YTD Trial Balance Report to Streamline the Monthly Reporting Process Example of a Basic YTD Trial Balance Report to Streamline the Monthly Reporting Process[/caption] (screenshot picture name for Google) ->  The Basic Monthly Trial Balance Report is a ready-to-use Control Report from the Solver Marketplace. A Brief Description of the Basic YTD Trial Balance Report Template Control Reports like the one seen in the image above are interactive and parameter driven and typically contain sections with year-to-date (YTD) balances by GL account and control totals. One of the important features that aid the user in the analysis process is the ability to easily ensure that both the current month and YTD data from the GL is in balance. Basic YTD Trial Balance Reports are often used in conjunction with consolidated as well as monthly trial balance reports, profit & loss, balance sheet and cash flow statements. 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 21, 2022