BlackLine

Simplifying Financial Processes with an Amortization Reconciliation Template in BlackLine

March 14, 2025 by Revelwood

Accounting tasks – such as amortization reconciliations – can be time-consuming with the potential for errors. BlackLine can be a game-changer for accounting.

BlackLine ensures accurate tracking and reporting with an amortization reconciliation template. Whether you’re reconciling prepaid accounts, managing insurance premiums, or automating journal entries, this template is a game-changer. Let’s dive into how it works and why it’s indispensable for finance teams.

What is an Amortization Reconciliation Template?

An amortization reconciliation template is designed to track and report the allocation of costs, such as prepaid expenses, over time. It provides a structured framework for managing various financial items, such as insurance premiums or other amortizable accounts. For instance, you can monitor starting and ending amortization dates, descriptions, original invoice amounts, and the current balances in one consolidated view.

Amortization Reconciliation Templates in BlackLine

In this video, you’ll see Adam Riskin, Revelwood’s Blackline practice leader, demonstrate how to use and customize amortization reconciliation templates to streamline your financial processes.

Key Features of the Template

1. Summary View:
The template offers a snapshot of your amortization items. For example, it displays the starting and ending dates, invoice descriptions, and the remaining balances. This enables quick analysis and ensures financial accuracy.

2. Traditional Waterfall Schedule:
With the click of a button, you can view a detailed waterfall schedule showing balances for each month. This feature helps track progress and facilitates month-by-month accountability.

3. Journal Entry Automation:
By toggling to the net activity view, you can see the monthly journal entries required for your GL system. For example, if you’re in July and the amount to record is $4,000, this can be exported directly to Excel and imported into your ERP system, significantly reducing manual work.

Customization and Flexibility

Adding New Items:
Adding amortizable items like a dental insurance premium is simple. You input the invoice amount, beginning, and ending dates, and the system calculates the amortization schedule based on your preferred method (e.g., straight-line or partial).

Editable Schedules:
Flexibility is a core feature. Schedules can be updated mid-year to reflect changes in amounts or timelines. For example, you can adjust future amounts or even specific line items to ensure the schedule remains accurate.

Advanced Calculation Methods

The template includes various calculation options to cater to different scenarios:

Straight-Line: Equal allocation over the period.
Partial Amortization: For partial months, the system prorates the allocation.
Catch-Up Adjustments: If an invoice arrives late, the system can calculate and apply past-due amortizations to the current period.

These methods ensure accuracy and compliance with financial reporting standards.

Enhanced Efficiency with Automation

One standout feature in BlackLine is the automation capability. The system can automatically certify reconciliations when GL balances match the expected amounts. For instance, if your GL balance for July aligns with the scheduled $27,000, the system marks it complete, saving time and reducing manual oversight.

Document Management

Organizing supporting documents is easy. Attach PDFs or Excel files, such as invoices, directly to your schedules. This feature ensures everything related to the reconciliation is in one place, improving documentation and audit readiness.

Why Use This Template?

Accuracy: Reduces errors in financial reporting.
Efficiency: Automates repetitive tasks and journal entries.
Flexibility: Adapts to changes in financial schedules.
Compliance: Ensures adherence to accounting standards.

The amortization reconciliation template is a robust tool for accounting professionals. It not only streamlines complex financial processes but also improves accuracy and saves time. By leveraging BlackLine’s automation and customization features, organizations can focus on strategic financial planning instead of getting bogged down by manual tasks.

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.

BlackLine Makes it Easy to Reassign Reconciliations from One User to Another

February 28, 2025 by Revelwood

Managing reconciliations in an organization can be challenging, especially when staff changes occur. Whether someone has left the company or is taking an extended leave, BlackLine provides efficient methods to reassign reconciliations from one user to another.

Watch our BlackLine Practice Lead, Adam Riskin, demonstrate how easy it is to reassign reconciliations in BlackLine.

Method 1: Using the Bulk Assignment Account Screen

The Bulk Assignment Account screen is perfect for reassigning a large number of reconciliations efficiently. In our example, Kim Wilson is leaving the company, and her reconciliations need to be reassigned to Pat Black. Here’s how to do it:

1. Set the Role:
- Ensure the role is set correctly for the reassignment. For instance, if Kim was a preparer, keep the role set to “Preparer.” If Kim was an approver or reviewer, adjust the role accordingly.
2. Select Users:
- In the “From” field, select Kim Wilson (the current user).
- In the “To” field, select Pat Black (the new user).
3. Adjust the Groups Field:
- Set the “Groups” field to “GL and Grouped Accounts.” This ensures that both individually reconciled and grouped reconciliations are reassigned.
4. View and Select Reconciliations:
- Click “Refresh” to display all reconciliations assigned to Kim. Ensure you adjust the results per page to display all items (e.g., 500 items per page) so nothing is missed.
5. Select and Assign:
- Use the “Select All” option to mark all reconciliations for reassignment.
- Click “Assign Accounts” to finalize the reassignment.

That’s it! All reconciliations previously assigned to Kim Wilson as a preparer are now reassigned to Pat Black.

Method 2: Managing Assignments via the Account Screen

For smaller-scale changes or more control over selected reconciliations, the Account screen is an excellent alternative.

1. Filter Accounts:
- Use the filter options to ensure that both “GL” and “Grouped Accounts” are selected, showing all applicable reconciliations.
2. Select Reconciliations:
- Manually checkmark the reconciliations you wish to update. For example, select a specific set of eight reconciliations to reassign.
3. Use the Actions Menu:
- Click the “Actions” button and select “Manage Assignments.”
- Choose the new preparer, approver, or reviewer from the dropdown menu (e.g., Pat Black).
4. Save Changes:
- After selecting the new user, click “Save.” The system will update the selected reconciliations with the new assignments.

Key Considerations

Role-Specific Adjustments: Always ensure that roles (Preparer, Approver, Reviewer) are set correctly when reassigning reconciliations.
Groups Field: By default, this field may be set to “GL Accounts Only,” which limits changes to individually reconciled accounts. Adjusting it to “GL and Grouped Accounts” ensures comprehensive reassignment.
Page View: Expand the results per page to ensure you can review and select all reconciliations at once.

By following these methods, BlackLine makes it easy to manage and reassign reconciliations efficiently, ensuring smooth transitions during staffing changes. Whether handling a bulk reassignment or a smaller, targeted update, these steps help maintain the accuracy and integrity of your financial processes.

How to Add and Remove Accounts from Group Reconciliations in BlackLine

February 21, 2025 by Revelwood

When managing group reconciliations, the ability to add and remove accounts seamlessly is critical for maintaining accuracy and organization. BlackLine makes it easy to manage your group reconciliations.

In our latest video, our BlackLine Practice Leader Adam Riskin, demonstrates step-by-step how to add and remove accounts from group reconciliations. Whether you’re onboarding new accounts or deactivating outdated ones, here’s a detailed guide to streamline your process.

The Account Group Screen

The process begins at the account group screen, which displays a list of all existing group reconciliations. Follow these steps:

1. Locate the Target Reconciliation:
- Identify the specific group reconciliation you wish to modify.
- Click on the relevant reconciliation to access the configuration screen.
2. Scroll to the Account Section:
- Navigate to the bottom of the configuration screen to view the list of accounts currently assigned to the group reconciliation.

Adding Accounts to a Group Reconciliation

To include new accounts in your group reconciliation, do the following:

1. Click the “Add Accounts” Button:
- A list of available accounts will appear. Select the ones you wish to add by marking the checkboxes.
2. Set the Add Date:
- Pay close attention to the Add Date. This date determines the fiscal period when the selected accounts will join the reconciliation.
- For instance, if you set the Add Date to August 2, 2024, the new accounts will be included in the group reconciliation starting from August 2024. They will not appear in any reconciliations prior to this date.
3. Finalize the Addition:
- Once you’ve selected the accounts and set the appropriate Add Date, click the “Add Accounts” button.
- Verify that the accounts are listed under the group reconciliation with the correct start date.

Removing Accounts from a Group Reconciliation

To remove accounts, follow these steps:

1. Click the “Remove Accounts” Button:
- Select the accounts you wish to remove by checking the relevant boxes.
2. Set the Remove Date:
- The Remove Date is just as crucial as the Add Date. It determines the fiscal period from which the accounts will no longer be part of the reconciliation.
- For example, if you set the Remove Date to August 2024, the accounts will remain part of the reconciliation up until July 2024. They will be excluded starting from the August 2024 reconciliation.
3. Finalize the Removal:
- After selecting the accounts and setting the appropriate Remove Date, click the “Remove Accounts” button.
- Ensure the accounts are marked as removed with the specified date reflected.

After making your changes—whether adding or removing accounts—always click the Done button. This step saves your updates and ensures the system reflects the changes accurately.

Best Practices for Managing Group Reconciliations

1. Double-Check Dates: Always verify the Add and Remove dates to avoid discrepancies in fiscal reporting.
2. Audit Changes: Regularly review the account list to ensure all modifications align with your reconciliation goals.
3. Save Your Work: Never forget to click “Done” after making changes to avoid losing progress.

By following these steps and keeping these tips in mind, you’ll ensure that your group reconciliations remain up-to-date and accurate.

Stay Ahead of Your Reconciliations with BlackLine Email Alerts

February 14, 2025 by Revelwood

Managing reconciliations can be challenging, especially when dealing with deadlines or approvals. Fortunately, BlackLine offers a robust alert system to keep you and your team informed and proactive. Configuring email alerts in BlackLine can help ensure that you never miss an important update or deadline.

Why Email Alerts Matter

Email alerts are invaluable in notifying team members when action is required. For example:

Overdue Reconciliations: The system can alert preparers when a reconciliation becomes past due.
Pending Approvals: Approvers can receive nightly emails summarizing reconciliations waiting for their review and approval.

These notifications ensure accountability and keep the reconciliation process running smoothly.

Watch this demonstration from Adam Riskin, our BlackLine practice leader to learn how easy it is to configure email alerts in BlackLine.

How to Configure Alerts

Follow these steps to set up and customize email alerts in BlackLine:

1. Navigate to the Manage Alerts Screen

The Manage Alerts screen is your control center for enabling and customizing alerts. On the left panel, you’ll find a list of available alerts that can be toggled on or off based on your team’s needs.

2. Activate Specific Alerts

Let’s say you want to alert preparers about overdue reconciliations. BlackLine offers two alert types:

Key Reconciliations Overdue: Notifies preparers when key reconciliations are past due.
Non-Key Reconciliations Overdue: Targets non-key overdue reconciliations.

To activate an alert:

Select the desired alert.
Click the “Activate Alert” option to turn it on.

3. Customize the Email Content

You can tailor the email subject line and body text to your preferences. Keep in mind:

Variables in brackets (e.g., [Reconciliation Name]) dynamically populate with specific details. Avoid editing these.
Adjust the overall message to align with your team’s tone or instructions.

4. Schedule Alert Delivery

Set the frequency and timing for the alert. Options include daily, weekly, or other scheduling preferences. For instance:

Choose “Daily” from the dropdown menu.
Set the desired time zone and delivery time (e.g., 3 AM Pacific Time).

5. Save and Verify

After configuring the settings, click the “Save” button. The alert’s status will change from gray to green, indicating it’s active.

Monitor Alert History

One of BlackLine’s standout features is its alert history. You can view the record of alerts sent, including the recipients and timing. This is helpful for auditing purposes or ensuring alerts are functioning as intended.

Maximize BlackLine Alerts for Your Team

With a bit of setup, BlackLine alerts can significantly enhance your team’s efficiency and accountability. Explore the full range of available alerts on BlackLine’s website and activate the ones that best suit your processes.

By leveraging email alerts, you can ensure your reconciliation workflow stays on track, helping your team focus on what matters most.

Streamlining Financial Accuracy with Accrual Reconciliation Templates in BlackLine

February 7, 2025 by Revelwood

The accounting team is tasked with maintaining accurate financial records. Accrual reconciliation plays a vital role in ensuring financial accuracy. Leveraging the right tools can make the process much more efficient.

What is Accrual Reconciliation?

Accrual reconciliation is the process of matching accrued expenses with their corresponding balances in the general ledger (GL). This ensures that financial statements accurately reflect the company’s liabilities and expenses. While many organizations still perform this process manually using spreadsheets, adopting standardized templates and automated systems, such as BlackLine, can significantly enhance efficiency.

The Power of the Accrued Reconciliation Template

Watch our BlackLine Practice Leader, Adam Riskin, explain how to effectively use and customize accrual reconciliation templates in BlackLine.

An accrued reconciliation template provides a structured approach to tracking and validating accrued balances. Here’s how it simplifies the reconciliation process:

1. Automated Roll-Forward Schedules: At the beginning of the year, the expected monthly accrual amounts are scheduled. The system automatically rolls these forward, maintaining an accurate forecast of what the GL balance should be for future months. For example, if the monthly accrued amount is $50,000, the template ensures the schedule reflects this amount each month, creating consistency and predictability.
2. Real-Time Adjustments: If business needs change, the accrued amounts for future months can be adjusted. For instance, if July’s accrual needs to increase from $50,000 to $75,000, this can be updated in the system. However, historical amounts that have already been certified remain locked, ensuring data integrity.
3. Handling Complex Scenarios: The template accommodates scenarios like bonus payouts. If bonuses are paid twice yearly, such as in June and December, the schedule allows for adjustments. This ensures accruals are reduced to zero for payout months while maintaining accurate records for future periods.
4. Standardization Across Teams: One of the most significant benefits of using an accrued reconciliation template is its standardization. Teams often have varying methods for creating schedules, which can complicate reviews and audits. Templates ensure consistency, making the reconciliation process more transparent and streamlined.
5. Auto-Certification for Time Savings: The system’s auto-certification feature is a game-changer. When the GL balance matches the scheduled amount for a given month, the reconciliation is automatically marked as complete. This reduces manual effort and provides confidence in the accuracy of financial data.

Why Transition from Excel?

Many accounting teams still rely on Excel for accrual reconciliations. However, Excel’s flexibility can sometimes lead to inconsistency, making the review process cumbersome for auditors and approvers. A dedicated template not only saves time but also enhances accuracy by minimizing human error and ensuring a standardized format.

Accrual reconciliation templates in BlackLine are a valuable tool for accounting teams seeking to optimize their processes. By automating schedules, enabling real-time adjustments, and fostering standardization, these templates improve accuracy and efficiency. If your organization is still navigating the complexities of manual reconciliations, transitioning to a standardized template system could be the transformative change you need.

Are you ready to simplify your accrual reconciliation process? Start exploring the possibilities today and bring precision and efficiency to your financial workflows!

7 Reasons Why Accounts Receivable (AR) Optimization is Crucial for CFOs

January 9, 2025 by Revelwood

In today’s dynamic business environment, effective accounts receivable (AR) management is more than just an operational task. For Chief Financial Officers (CFOs), it’s a strategic pillar that can transform cash flow management, financial stability, and overall business performance. By leveraging modern Invoice-to-Cash (I2C) automation tools, CFOs can unlock substantial financial and operational benefits. Here’s a look at why AR optimization is essential for CFOs today.

1. Enhanced Cash Flow Management

Cash flow is the lifeblood of any business and optimized AR processes ensure that cash is accessible when needed. According to a recent report, a staggering $1.5 trillion is tied up in receivables. By accelerating collections, CFOs can free up significant working capital, improving liquidity and reducing the need for short-term borrowing.

2. Improved Working Capital Organization

Effective AR management contributes to better working capital by ensuring timely cash inflows. This directly impacts the organization’s ability to reinvest in crucial areas like inventory and capital expenditures. With less capital locked up in receivables, companies can lower borrowing costs, bolster their balance sheets and increase investor confidence.

3. Robust Risk Management

Proactive AR management helps mitigate the risks of overdue accounts and potential bad debts. By implementing credit management practices, CFOs can reduce credit risks and create a more secure financial environment. Steps such as assessing customer creditworthiness and setting credit limits minimize the chances of financial strain due to customer defaults.

4. Accurate Financial Planning and Forecasting

For strategic financial planning, accurate AR data is invaluable. CFOs can leverage AR insights to predict cash flow patterns, enabling more precise budgeting and avoiding financial shortfalls. Additionally, understanding revenue trends and customer payment behaviors aids in making informed decisions regarding product development, market positioning and resource allocation.

5. Strengthened Customer Relationships

A well-optimized AR process improves customer satisfaction by reducing errors and providing transparency in billing and payment procedures. Streamlined invoicing and collection methods minimize disputes, fostering a positive relationship with customers and reinforcing trust. This focus on efficiency enhances the customer experience and supports long-term loyalty.

6. Cost Efficiency Through Automation

Automation in AR can reduce the reliance on manual, error-prone processes, cutting down administrative costs and freeing up resources for strategic initiatives. By shortening the cash conversion cycle, companies can reduce the need for external financing and lower operational expenses, ultimately driving higher profitability.

7. Enhanced Regulatory Compliance and Reporting

In today’s regulatory environment, accurate financial reporting and compliance are non-negotiable. Optimized AR processes ensure that records are complete, accurate, and compliant with standards, reducing the risk of penalties or compliance issues. Digital platforms with built-in audit trails enhance traceability and accountability, giving stakeholders confidence in financial transparency.

For CFOs, AR optimization is a strategic tool to enhance cash flow, reduce risk, and improve financial forecasting. Leveraging I2C automation not only drives operational efficiencies but also positions companies for growth and resilience in an increasingly competitive landscape. In short, AR optimization isn’t just beneficial—it’s essential for modern financial leadership.

Discover how AR optimization can revolutionize cash flow, boost efficiency and drive sustainable growth. For a deeper dive into these seven essential strategies, download BlackLine’s eBook: “7 Reasons Why AR is Important to the Office of the CFO.”

Emery: Thanks. I’m responsible for overseeing and expanding our Client Success team. Our goals are to optimize the client experience by expanding our service offerings and driving product adoption. We want to make sure our clients get the full benefits they expect from their investments in technology for the Office of Finance.

Currently our clients receive complimentary training, free system performance tune-ups, access to open Q&A sessions and exclusive content. We plan on expanding our offerings. At Revelwood we say – and we mean it – that we have our clients’ backs. Our Client Success team will put even more processes and thought around how we do that.

Q: What have you been doing in between your time with us?

Emery: I’ve focused on client success. I’ve had the opportunity to work with startups that were headquartered outside of the U.S. This has given me an interesting perspective on how to work with organizations of all sizes to partner for success. Success not just in selling software, but in actually working toward long-term relationships with our clients. As one Revelwoodian recently said, “We don’t just deliver [an implementation] and run away. In fact, we do the opposite of that.

Q: Why did you decide to return to Revelwood?

Emery: Revelwood has nearly quadrupled in size since I left in 2014. There’s a significant amount of growth in the financial planning software market and related technologies for the Office of Finance. Revelwood has the right people and the right experience to capitalize on this fast-growing market.

Revelwood also has a client base of raving fans. That’s a great starting point for my goals for the Client Success team. We’re not just a service provider, we are a vested advocate that helps them achieve their goals for transforming the Office of Finance.

And, they are great people!

BlackLine

What is an Amortization Reconciliation Template?

Amortization Reconciliation Templates in BlackLine

Key Features of the Template

Customization and Flexibility

Advanced Calculation Methods

Enhanced Efficiency with Automation

Document Management

Why Use This Template?

Read more about Accounting & Accounts Receivable:

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:

Method 1: Using the Bulk Assignment Account Screen

Method 2: Managing Assignments via the Account Screen

Key Considerations

Read more about Accounting & Accounts Receivable:

The Account Group Screen

Adding Accounts to a Group Reconciliation

Removing Accounts from a Group Reconciliation

Best Practices for Managing Group Reconciliations

Read more about Accounting & Accounts Receivable:

Why Email Alerts Matter

How to Configure Alerts

Monitor Alert History

Maximize BlackLine Alerts for Your Team

Read more about Accounting & Accounts Receivable:

What is Accrual Reconciliation?

The Power of the Accrued Reconciliation Template

Why Transition from Excel?

Read more about Accounting & Accounts Receivable:

1. Enhanced Cash Flow Management

2. Improved Working Capital Organization

3. Robust Risk Management

4. Accurate Financial Planning and Forecasting

5. Strengthened Customer Relationships

6. Cost Efficiency Through Automation

7. Enhanced Regulatory Compliance and Reporting

Read more about Accounting & Accounts Receivable:

Read more about Accounting & Accounts Receivable:

Learn more about Emery – read the press release and connect with him on LinkedIn.

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