accounting

How to Add Fiscal Periods in BlackLine

March 7, 2025 by Revelwood

BlackLine allows you to add your fiscal period into the system. Here’s a scenario many accounting professionals face every year. As the end of the year approaches, it’s crucial to ensure your financial systems are ready for the upcoming fiscal year.

Watch this short video to see Adam Riskin, our BlackLine practice leader, demonstrate how to add new fiscal periods in your system.

1. Locate the Period End Date Screen

Begin by navigating to the period end date screen in your system. This is where all your existing fiscal periods are listed. For instance, if the current year ends in December 2024, this screen will display fiscal periods through December 2024.

2. Add a New Fiscal Period

To add a new fiscal period, follow these steps:

Click the Add button.
Enter the last day of the fiscal period. For example, for January 2025, input January 31, 2025.

3. Set Reconciliation Frequency

Depending on your organization’s requirements, set the reconciliation frequency:

If you’re using standard frequencies (e.g., monthly, quarterly), select the appropriate frequency. For January, this would typically be “monthly.”
If you’re using custom frequencies, this step may not apply immediately, but it’s good practice to configure the frequency settings accurately.

4. Inactivate Period Tasks

By default, the Inactivate Period for Tasks option is checked. This hides tasks for the new period (e.g., January 2025) until closer to the period’s start. Leave this checked initially, then uncheck it as you approach the end of the prior period (e.g., December 2024) to make tasks visible.

5. Assign Due Dates

Each fiscal period requires due dates for reconciliations:

Key Reconciliations: Assign dates for preparation, approval, and review.
Non-Key Reconciliations: Assign similar dates based on a slightly extended timeline.

You can either:

Manually input due dates, or
Use the Set Due Dates feature, which leverages predefined business-day rules for automatic population.

6. Save the Fiscal Period

Once the details are entered, click Save to finalize the new fiscal period.

7. Repeat for Remaining Fiscal Periods

Follow the same process to add all fiscal periods for the new year.

8. Handle Custom Frequencies

If your organization uses custom frequencies, you’ll need to take an additional step:

Navigate to the Custom Frequency screen.
Locate the appropriate frequency (e.g., monthly, quarterly, yearly).
Scroll to the bottom, find the new fiscal period (e.g., January 2025), and click Add to include it in the selected frequency.

Why Custom Frequencies Matter

Failing to add new fiscal periods to custom frequencies can cause tasks and reconciliations to remain hidden, disrupting workflows for your users. This step ensures everything is visible and functional when the new fiscal period begins.

By following these steps, you can ensure a smooth transition into the new fiscal year, keeping your financial processes organized and on track. Whether you’re preparing for 2025 or beyond, this method will save you time and avoid potential disruptions.

Importing Multiple Accrual Schedules into a Reconciliation With BlackLine

November 21, 2024 by Revelwood

We recently launched a new video series on different ways to import reconciliation supporting items with BlackLine. In today’s video, our BlackLine Practice Leader, Adam Riskin, demonstrates how to import multiple accrual schedules into a reconciliation.

Step 1. Importing Multiple Amortization Schedules from an Excel File

In this demonstration, the Excel file contains two prepaid items: health insurance premium and dental insurance premium, set to amortize over 12 months.
Columns C and D represent the start and end dates of the amortization, while columns E and F hold the invoice amounts and open dates.
Make sure that the field names in the Excel file match exactly with those in the BlackLine.

Step 2. Ensuring Field Name Consistency

BlackLine automatically maps Excel fields to its own fields if the names are consistent.
This step simplifies the import process by ensuring the system recognizes the starting amortization date and invoice amounts correctly.
The process becomes easier and more efficient with consistent field naming conventions.

Step 3. Importing the Amortization Schedules

Click on the “Multiple” hyperlink to import the two schedules.
You need to set up the calculation method, typically straight line, before importing the file.
Browse and select the Excel file containing the scheduled items.
Select all records in the Excel file for import and click Import to add the schedules to the reconciliation.

Step 4. Viewing Imported Schedules

The imported schedules appear in the amortizable Schedule section of the reconciliation.
You’ll see the amortization amount for each month.
The “Roll Forward” button provides a traditional view of the amortizable balance at the end of each fiscal period.

Step 5. Handling Non-Standard Schedules

BlackLine can calculate standard schedules automatically, but non-standard schedules may require manual input.
Non-standard schedules, such as those with varying amounts each month, may not use auto calculation methods like catch-up.
The system administrator can use a specific technique to import these non-standard schedules using the Import v7 Data Import tab.

In our next video, Adam will demonstrate how a system administrator can import non-standard schedules.Have you missed some videos in this series? You can find them all on our YouTube channel.

Importing a Single Accrual Schedule into a Reconciliation With BlackLine

November 14, 2024 by Revelwood

A preparer can easily import a single accrual schedule from an Excel file into BlackLine for an accrued bonus reconciliation. Watch this video to see Adam Riskin, our BlackLine Practice Leader demonstrate how to do this.

Step 1. Setting Up the Excel File for Import

The Excel file including columns for fiscal month, description, and the accrued amount.
The fields in the Excel file do not need to be in a specific order, but it is best practice to align them with the BlackLine field headers.
The Excel file should have fields that match the date, description, and transactional amount fields in the reconciliation system.
It is important to name the field headers consistently in the Excel file for accurate import.

Step 2. Starting the Import Process

Click the link to start the import process.
You’ll see the description field in the import form is filled out as “2024 bonus accrual” and click Browse and select the Excel file.
The import form allows users to see the records from the Excel file, including fiscal month, description, and dollar amount.
It is important to select the correct tab in the Excel file that contains the uploading data.

Step 3. Mapping Excel Fields to Reconciliation Fields

Mapping ensures that the Date field in the Excel file will populate the Date field in the BlackLine supporting item schedule.
BlackLine needs to know which Excel records to import.
The final step is to click the Import button to upload the schedule into the system.

Step 4. Viewing the Imported Schedule

The imported schedule is visible by clicking on the scheduled icon in the system.
This feature allows users to see the accrual schedule in detail, ensuring accuracy and transparency.
The process concludes with a successful import and detailed viewing of the accrual schedule.

BlackLine makes it easy for a preparer to import a single accrual schedule. This video is one in a series on different ways to import reconciliation supporting items with BlackLine.

How a System Administrator can Import Multiple Amortization Schedules in BlackLine

November 7, 2024 by Revelwood

In an earlier blog post, we showcased a video demonstration on how a preparer can import multiple amortization schedules. In this video, our BlackLine Practice Leader Adam Riskin shows you how a system administrator can import non-straight line amortization schedules.

Here is the process:

Overview of the Import File

You’ll see Adam work with two amortization schedules: one for health insurance premiums and one for dental insurance premiums, both amortizing over 12 months.
The first 20 or so fields are considered the header record for the amortization schedule, containing details like the supporting item header record and entity information.
Each record is copied down 12 times to reflect the 12-month amortization period, with values varying based on the months.
The header record includes fields like the supporting item header record, open date, entity, General Ledger (GL) account, and a unique ID.

Setting Up the Monthly Schedule

The monthly schedule lists the amortization amounts for each month.
You’ll see varying amortization amounts for the first six months compared to the last six months.
The same concept is applied to the dental insurance amortization schedule, with 12 records mirroring the structure.

Calculation Method and Upload Process

The calculation method is set to “end” for non-straight line amortization schedules, which allows the schedule to be created based on the provided amounts.
Next, you’ll copy and paste the data into a WordPad file and save it to the file share.
As an administrator, you’ll navigate to the Import Data screen, select the items v7 import type, and import the file into the system.
Once this is complete, you’ll see the the amortization schedule in the reconciliation within BlackLine.

This video is one in a new series on different ways to import reconciliation supporting items with BlackLine. Stay tuned for more videos on importing supporting items.

Import Multiple Amortization Schedules into a Reconciliation with BlackLine

October 31, 2024 by Revelwood

We recently launched a new video series on different ways to import reconciliation supporting items with BlackLine.

In our latest video, BlackLine Practice Leader, Adam Riskin, demonstrates how to import multiple amortization schedules into a reconciliation with BlackLine.

Step 1. Importing Multiple Amortization Schedules from an Excel File

The Excel file contains two prepaid items: health insurance premium and dental insurance premium, set to amortize over 12 months.
Columns C and D represent the start and end dates of the amortization, while columns E and F hold the invoice amounts and open dates.
Make sure that the field names in the Excel file match exactly with those in BlackLine for proper importing.

Step 2. Importing the Amortization Schedules

The calculation method, typically straight line, needs to be set before importing the file.
Browse and select the Excel file containing the scheduled items.
Click the “Import” button is to add the schedules to the reconciliation.

Step 3. Viewing Imported Schedules

The imported schedules will appear in the amortizable Schedule section of the reconciliation.
You’ll see the amortization amount for each month.
The “Roll Forward” button provides a traditional view of the amortizable balance at the end of each fiscal period.

Handling Non-Standard Schedules

BlackLine can calculate standard schedules automatically, but non-standard schedules may require manual input.
Non-standard schedules, such as those with varying amounts each month, may not use auto calculation methods like catch-up.
Your system administrator can use a specific technique to import these non-standard schedules.

Stay tuned for more videos from Adam on how to import supporting items into BlackLine.

Importing a Single Amortization Schedule into a Reconciliation With BlackLine

October 24, 2024 by Revelwood

We recently launched a new video series on different ways to import reconciliation supporting items with BlackLine.

When working with long-term loans, maintaining an accurate and up-to-date amortization schedule is crucial. This process becomes even more streamlined when using BlackLine, which allows users to import amortization schedules directly from Excel files.

Our BlackLine Practice Leader, Adam Riskin, recently demonstrated how to do this. Watch our video to see Adam walk through the steps to import a single amortization schedule for a five-year loan, ensuring accuracy, efficiency, and smooth data mapping from start to finish.

Step 1. Preparing the Excel File for Import

Before importing your amortization schedule into BlackLine, you need to make sure that your Excel file is well-prepared. Proper preparation not only prevents errors but also speeds up the import process.

Include all necessary fields: Your Excel file should display a comprehensive debt schedule. This includes key columns like the month-end date, description, monthly payment, interest, principal, and ending balance. The schedule should capture each month’s data throughout the five-year loan period.
Adjust field names: The column headers in your Excel file need to match the corresponding fields in BlackLine. This step is vital – BlackLine automatically maps fields based on these headers. For instance, if the system expects a field named “Fiscal Period” but your file uses “Month-End Date,” you will run into mapping issues.
Enhance descriptions: You can simplify field organization by concatenating the month names with a descriptor. For example, a “description” field might contain values such as “January Amortization” or “February Amortization.” This not only makes the file easier to read but also improves its compatibility with BlackLine.

Once your file is set up with proper headers and descriptions, you’re ready to move to the next step.

Step 2. Importing the Excel File into BlackLine

After your file is prepared, importing it into Black Line is straightforward. Here’s how to do it:

Browse for the file: Start by navigating to the import section within BlackLine and selecting your Excel file. Ensure you are working with the correct worksheet, as some Excel files may contain multiple tabs. Choose the tab that contains the debt schedule you want to import.
Automatic field mapping: If you’ve followed the earlier step of aligning your Excel file’s headers with Black Line’s field names, the system will automatically map fields like the month-end date to the fiscal period. This saves time and reduces the potential for errors.

However, if some fields don’t match exactly, you can manually map them in BlackLine. Simply use the drop-down menus provided by the system to connect the fields in your Excel file to the corresponding BlackLine fields.

Step 3. Mapping Excel Fields to BlackLine

Accurate mapping is critical for a successful import. If all your field headers match BlackLine’s expected inputs, the system will automatically map them for you. However, when discrepancies arise, such as using different terminology in your Excel file, you will need to do some manual mapping.

Manual mapping process: Use BlackLine’s user-friendly interface to select the appropriate field for each unmatched Excel column. This ensures that the correct data flows into the system. For example, if the “Month-End Date” column wasn’t automatically mapped, you would manually assign it to the “Fiscal Period” field in BlackLine.
Selecting all records: After mapping, make sure you are importing the entire schedule by selecting all records. BlackLine provides a “Select All” button, which makes it easy to include the full amortization schedule in the import process.

Step 4. Finalizing the Import Process

The final step in the import process is straightforward: simply click the “Import” button. BlackLine will then bring the entire amortization schedule into your reconciliation. Afterward, you can review the summary view of the reconciliation for the selected period.

From this summary, users can drill down into the full amortization schedule by clicking the schedule icon. This provides a detailed view of the monthly payments, interest, principal, and ending balances for each month, right up until the end of the loan.

One of the major advantages of using BlackLine is that after this initial import, the system automatically rolls the schedule forward each month. This eliminates the need for repeated manual updates, streamlining the reconciliation process for the entire loan term.

Importing a single amortization schedule into BlackLine is a simple but powerful process that can significantly improve your workflow. By preparing your Excel file properly, using BlackLine’s automatic field mapping, and finalizing the import with ease, you can maintain an accurate and hassle-free loan reconciliation process. As a result, future months will require minimal effort as the system automatically manages the schedule on your behalf.

Make sure your Excel files are always aligned with Black Line’s field headers, and you’ll enjoy a smooth, efficient reconciliation process every time.

Best Practices for Account Reconciliations

October 3, 2024 by Revelwood

This is a blog post from our partner BlackLine, sharing nine best practices for streamlining your account reconciliation process.

Account reconciliation is an accounting process that verifies the accuracy of entries in the business ledger by comparing them to the information in bank statements, business records, vendor invoices, expense receipts, credit card statements, and other data sources.

Nine Account Reconciliation Best Practices

Accountants can follow these nine best practices to ensure the accuracy and integrity of their account reconciliation.

1. Automate:

Expand automation to cover the entire reconciliation process. Like so many aspects of business accounting, account reconciliation benefits greatly from automation. Digital applications reduce time in the process by minimizing or even eliminating manual data entry.

Software can be programmed to operate on rules that improve the integrity and consistency of the information gathered and the analysis process. Digitally enhanced identification of errors and discrepancies significantly improve the accuracy of the reconciliation process. Artificial intelligence (AI) enhances the ability to identify and match appropriate documentation, reducing omissions and cutting down processing time.

2. Evaluate and Improve:

Consider how processes may need to change over time due to factors like employee turnover, new input fields, and M&A activity. As in any other process, how accountants conduct their account reconciliations should be evaluated and improved over time. Internal changes to the company structure and operations, as well as external changes in the market in which the business operates, can have a significant impact on how account reconciliations need to be conducted. Regular adjustments should be made to ensure that the process reflects these changes.

Accountants should review data files, fields of entry, and matching rules and make changes as necessary to ensure that all the data and steps in the reconciliation process reflect the most up-to-date business practices.

3. Standardize the Reconciliation Process:

Use a consistent reconciliation method. To ensure reliability, accountants should endeavor to create and employ a standardized process. Standardization creates consistency in reconciliation. Well-defined parameters and easily understood metrics reduce errors and save time. Standardized methods allow for more insightful information comparisons over time, which helps identify trends and patterns in financial data.

4. Identify and Assess KPIs:

Look at key performance indicators. Using specific metrics to evaluate the account reconciliation performance will ensure the process’s integrity. Accountants should first establish their key performance indicators (KPIs). Metrics such as accuracy, timing, and the number of errors or discrepancies help to measure the effectiveness of the process.

Establishing benchmarks for these and other metrics and regularly evaluating how the process performs against them will identify areas for improvement. The KPIs themselves may also need to be adjusted over time to reflect changes to the business and the process themselves.

5. Regularly Update Account Reconciliation Policies:

How reconciliation is performed largely depends on the policies that the business sets to govern its execution. Policies can govern many aspects of the process, including the timing and frequency of reconciliations, the steps that are followed, who is responsible for various aspects of the reconciliation process, and how errors are identified and reconciled. In the spirit of evaluating and improving, these policies should be regularly monitored and updated to reflect changes to the business and its financial activities.

6. Reconcile in Sections:

Break the process into sections. Reconciliation is a complicated process that will benefit from an incremental approach. It can be broken down into smaller steps to facilitate and make the process more manageable. For example, reconciliation can be broken down into basic elements: identifying relevant accounts, gathering data, setting a timeline, comparing statements, examining individual transactions, identifying discrepancies, and reconciling errors. Tackling each individually and sequentially will make the more extensive process more manageable.

7. Analyze Discrepancies:

Analyze any differences that are found. Once discrepancies are found, this is an opportunity for accountants to do their detective work and determine the cause. A careful review of the ledger information and the source data will help pinpoint the underlying reasons. Discrepancies can be caused by various factors, including manual errors in data entry, improper calculations, timing errors, omitted transactions, delayed payments, and even fraud. Identifying the nature of the discrepancy will determine how it should be addressed and reconciled.

8. Finish On Time:

Review and finish reconciliations on time. Timing is important in the reconciliation process. Unnecessary delays can lead to more errors or discrepancies being overlooked and carried over into another reporting period. Timely completion of reconciliation can help the business close its accounts efficiently and as scheduled, and it can help identify fraud, errors and other trends before they become compounded or cause more problems for the business.

9. Stick to Accounting Rules:

Follow generally accepted accounting principles (GAAP). In the United States, public companies must follow a set of rules, standards, and procedures set by the Financial Accounting Standards Board (FASB). These GAAP are designed to ensure consistency, accuracy, and transparency in financial reporting across various industries.

GAAP requires businesses to use the double-entry bookkeeping system. This system supports GAAP’s goals and is the most common tool for reconciliation because it requires entering a transaction into the general ledger twice. Each entry is recorded as a debit or a credit, and the two always balance out.

Why Is Account Reconciliation Important?

Account reconciliation is an essential business accounting function. It helps businesses address several fundamental objectives in their accounting processes.

All businesses must identify errors and fraud, generate accurate financial statements, file taxes, and comply with myriad laws and regulations at the federal, state, and local levels.

Reconciliation ensures the accuracy and reliability of financial practices and statements to support efficient operations and sound decision-making by management, lenders, and investors.

2024 Financial Close Buyers Guide Names & Recognizes BlackLine for its Total Cost of Ownership and Return on Investment

September 26, 2024 by Revelwood

Ventana Research, now ISG Software Research, recently released its 2024 Financial Close Buyers Guide, which ranked BlackLine an Exemplary Vendor and Overall Leader. The report highlighted the total cost of ownership (TCO) and return on investment (ROI) that BlackLine delivers to its customers.

“As the financial landscape continues to evolve, the need for the Office of the CFO to drive business forward has never been more critical,” said Robert Kugel, executive director and head of business research, ISG Software Research. “Blackline’s proven, collaborative and achievable approach to digital transformation has positioned the company as a trusted partner for organizations worldwide.”

The guide evaluated 12 vendors in the financial close software market. They are: BlackLine, Board International, FloQast, Fluence, NetSuite, Oracle, Prophix, SAP, Trintech Adra, Trintech Cadency, Vena Solutions and Wolters Kluwer.

Close-up of a financial close chart

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The report uses the Ventana Value Index methodology, which is based on extensive market and product research and is structured to replicate an RFI process by incorporating criteria to select technology. The research evaluates technology providers on products that address critical elements of enterprise software across ten product and customer experience categories.

Ventana ranked BlackLine as a leader in seven out of the ten categories, including Capability, Usability, TCO/ROI and Validation. The company received an overall grade of A-, and was recognized for:

Product Experience for its manageability, administration, privacy and security.
Customer experience for its total cost of ownership (TCO) and return on investment (ROI), due to effective systems and processes for managing and escalating breaches.

Vendors in the Exemplary category represent those that performed the best in meeting the overall product and customer experience requirements.

Read the full 2024 Financial Close Management Buyers Guide.

ISG Software Research provides authoritative market research and coverage of the business and IT software industry.

How Automating Accounting Meets the Growing Demands of Finance

August 22, 2024 by Revelwood

This is a blog post from our partner BlackLine, explaining four reasons why CFOs are automating their accounting processes.

Going into 2023, Deloitte’s Q4 2022 North American CFO Signals survey revealed that one in three Chief Financial Officers (CFOs) anticipated economic challenges and a possible recession as the major constraint to achieving their companies’ financial performance goals. Despite this gloomy outlook, the survey reported that 79% of CFOs expected to implement more automation/digital technologies into their processes.

Why the Bullishness Towards Investment in Technology?

The answer lies in the growing demands of the finance function. The list of challenges facing businesses seems to grow with every passing quarter, and CFOs and their teams are increasingly expected to act as key partners to business operations. This means spending more time providing the CEO and other leaders with critical insights and decision support and less time on transactional finance. This also means reducing costs and investing in technology to automate core business processes, and accounting is often the best place to start.

4 Reasons Why CFOs Everywhere Are Automating Their Accounting Processes

In no particular order, here are 4 reasons why CFOs everywhere are automating their accounting processes:

In 2022, Gartner surveyed 155 finance executives on their 2025 goals for the financial close. The majority of respondents identified general aims for improvement and over half revealed the goal of an autonomous financial close process:

– 86% said they want a faster, real-time close

– 68% said they want a cheaper close

– 64% said they want an error-free close

– 55% said they want a touch-free close

While a touch-free close is largely just an ambition at the moment, many CFOs have already achieved a faster, real-time close by standardizing their processes and applying automation to repetitive tasks and threshold-dependent use cases.

CFOs that have done so tend to lead top-performing organizations and see significant savings of time and money, so they are spending a lower percentage of their revenue on the finance function and freeing their “teams from low value-added activities so they can be redeployed into value-added business advisory roles.” On average, these organizations spend three times less on their finance function than those that haven’t optimized their processes.

2. Technology is the #2 priority for CEOs

Gartner’s 2023 CEO Survey identified technology and digital transformation as the #2 priority for CEOs, with a special focus on AI and process automation. As expected, growth is the #1 priority for CEOs, but it’s far from being mutually exclusive to investment in digital transformation, as 89% of boards claim we are “in a post-digital world; i.e., digital is an implicit part of growth strategies.”

A recent study by Harvard Business Review highlights the importance of technology and digital transformation to current business growth, comparing average annual shareholder returns of digital “leaders” to those of digital “laggards” across the global banking industry. From 2018 to 2022, digital leaders in global banking saw 8.1% in average annual shareholder returns versus 4.9% for laggards. Additionally, total operating expenses of digital laggards grew at 2.3% per year, nearly twice that of digital leaders (1.3% per year).

3. Recruiting and retaining top talent

The CFO’s investment in technology also contributes to the #3 priority for CEOs – recruiting and retaining top talent. The Journal of Accountancy recently cited a survey of 267 CFOs across the U.S., EMEA, and APAC, revealing that 99% of CFOs who are prioritizing digital transformation agree that technology will be crucial to their ability to attract and retain employees.

Another survey by the Association of International Certified Professional Accountants showed that finance and accounting roles have virtually no interest in information activities, like data aggregation and transactional ticking and tying, and would rather shift their focus to delivering insight, influence, and impact to their organizations. This sort of sea change in the role of accounting and finance is only possible through the automation of repetitive core processes.

The current shortage of accountants entering the workforce even further stresses the importance of investment in technology. In December 2022, The Wall Street Journal reported that over “300,000 U.S. accountants and auditors have left their jobs in the past two years, a 17% decline,” and that the declining number of accounting bachelor’s graduates won’t be able to fill the vacancies.

Some of this decline across the profession can be attributed to retirements. However, a recent survey of 1,400 college students on their perceptions of the accounting profession revealed that when compared to other careers, most undergraduates view accounting careers as requiring longer hours per week and having less interesting day-to-day responsibilities. These perceptions are largely due to accounting’s traditional association with repetitive, time-consuming processes, many of which can now be automated and digitally optimized.

4. Our volatile economic environment

The past three years have produced the most volatile economic environment since The Great Recession. The sharp economic contraction caused by the COVID-19 pandemic was quickly followed by supply chain disruptions, inflation, rising interest rates, geoeconomic confrontations, energy crises, extreme weather events, failing banks, and labor shortages, which have been especially pertinent to finance and accounting teams.

These challenges have stressed the demand for real-time insights into financials to enable proactive, data-driven decisions that will eliminate risk and maximize profitability. Gartner’s 2023 Survey of Top 5 Priorities for Corporate Controllers revealed that a top priority for the controllership is to reevaluate its own scope and structure, so that its value is aligned to support judgment-based and decision-enablement workstreams for the larger CFO organization.

It goes without saying that traditional accounting practices are incompatible with this demand for accurate, real-time insights. Although a lot has changed over the past several years, a 2019 survey of 1,100 C-level executives and finance leaders across the U.S., EMEA, and APAC found that 69% of respondents believed that their CEO/CFO had used incorrect or out-of-date financial data to make significant business decisions. Manual input processes and too many disconnected data sources were identified as the leading reasons for error.

How Are CFOs Navigating These Demands?

As organizations must embrace even greater influxes of data across different systems, our business environment becomes even more complex, and finance and accounting face a shortage of talent, the controllership’s ability to eliminate risk, consolidate financial data, and enable decision-support for the office of the CFO can only be made possible through the digital transformation of core financial processes. For a first-hand account of how making a change is helping other finance leaders navigate those demands, tune in to this webinar: Controllers Council – The Future of Accounting: Insights from Industry Leaders.

This blog post was originally published on the BlackLine blog.

accounting

1. Locate the Period End Date Screen

2. Add a New Fiscal Period

3. Set Reconciliation Frequency

4. Inactivate Period Tasks

5. Assign Due Dates

6. Save the Fiscal Period

7. Repeat for Remaining Fiscal Periods

8. Handle Custom Frequencies

Why Custom Frequencies Matter

Read more about Accounting & Accounts Receivable:

Step 1. Importing Multiple Amortization Schedules from an Excel File

Step 2. Ensuring Field Name Consistency

Step 3. Importing the Amortization Schedules

Step 4. Viewing Imported Schedules

Step 5. Handling Non-Standard Schedules

Read more about Accounting & Accounts Receivable:

Step 1. Setting Up the Excel File for Import

Step 2. Starting the Import Process

Step 3. Mapping Excel Fields to Reconciliation Fields

Step 4. Viewing the Imported Schedule

Read more about Accounting & Accounts Receivable:

Here is the process:

Overview of the Import File

Setting Up the Monthly Schedule

Calculation Method and Upload Process

Read more about Accounting & Accounts Receivable:

Step 1. Importing Multiple Amortization Schedules from an Excel File

Step 2. Importing the Amortization Schedules

Step 3. Viewing Imported Schedules

Read more about Accounting & Accounts Receivable:

Step 1. Preparing the Excel File for Import

Step 2. Importing the Excel File into BlackLine

Step 3. Mapping Excel Fields to BlackLine

Step 4. Finalizing the Import Process

Read more about Accounting & Accounts Receivable:

Nine Account Reconciliation Best Practices

1. Automate:

2. Evaluate and Improve:

3. Standardize the Reconciliation Process:

4. Identify and Assess KPIs:

5. Regularly Update Account Reconciliation Policies:

6. Reconcile in Sections:

7. Analyze Discrepancies:

8. Finish On Time:

9. Stick to Accounting Rules:

Why Is Account Reconciliation Important?

Read more about Accounting & Accounts Receivable:

Why the Bullishness Towards Investment in Technology?

4 Reasons Why CFOs Everywhere Are Automating Their Accounting Processes

2. Technology is the #2 priority for CEOs

3. Recruiting and retaining top talent

4. Our volatile economic environment

How Are CFOs Navigating These Demands?

Read more about Accounting & Accounts Receivable:

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