One of the most important internal controls over financial reporting is thorough, timely, and accurate account reconciliations. The BlackLine Reconciliation Management Solution standardizes and automates all types of reconciliations, including general ledger and balance sheet account, bank, credit card, cash, inventory, investment, or any other type of reconciliation. Streamlining the reconciliation process prevents material misstatements, minimizes risk, and provides confidence, integrity, and trust.
BlackLine Reconciliation Management modernizes period-end accounting by enabling users to automate, streamline, and manage reconciliations at the transaction, balance sheet or even consolidation level with several key products across BlackLine’s unified Finance Controls and Automation platform. The BlackLine Reconciliation Management Solution speeds up period-end accounting for more than 1,300 clients around the world with comprehensive multi-currency functionality and support for IFRS and GAAP standards. This solution delivers a critical milestone on the journey to Modern Finance by standardizing internal processes, decreasing risks of error and inaccuracy, and providing critical visibility into processes and accounting operations. Accelerate your period-end account reconciliations and other operational reconciliations and move beyond manual, error-prone, spreadsheet-driven processes.
Improve Efficiency with Automation
The Financial Close Management solution embeds automated controls throughout the entire close process. Reduce risk of financial discrepancies, errors, and restatements through continuous monitoring of data, setup, task execution, and transactions. Control user access and enforce segregation of duties, catch anomalies with rules-based fluctuation analysis, and avoid errors or unauthorized posts with automatic journal validation. BlackLine Financial Close Management software ensures accuracy by providing end-to-end transparency, accountability, and auditability.
Standardize and Optimize Process
In addition to standardized reconciliation templates built on industry best practices, BlackLine allows you to tailor and embed workflows and controls that align with your company’s operating, financial reporting, and compliance objectives. BlackLine standardizes and modernizes account reconciliation management while reducing and preventing errors and inaccuracies, so accountants can focus on analysis, risk mitigation, and exception handling.
Minimize Risk with Proper Controls
Reduce risk of financial discrepancies through embedded controls and standardization while adding transparency and accountability. BlackLine enables accounting leaders to maintain proper segregation of duties among accounting teams, provide auditors easy access to reconciliations, and configure risk rules to quickly identify irregular activity. Each step in the period-end account reconciliation process is tracked with a full audit trail.
Drill down into the pertinent supporting information directly from BlackLine. You can jump right into your ERP account details, see matched and unmatched transactions, and view management reports, dashboards and real-time information on the completion, quality, and accuracy of every step in the reconciliation process. Obtain a global picture of the quality, performance, and progress of your period-end reconciliation process.
Ensure System Interoperability
Whether using a single ERP or many disparate, disconnected financial systems, BlackLine is ERP-agnostic and integrates with your systems to deliver a single comprehensive reconciliation management solution. BlackLine is built on a single codebase and is not a patchwork of cobbled together technologies acquired over time. BlackLine products work together on a private cloud platform, seamlessly and securely sharing datasets and workflows with your organization’s systems.