BlackLine

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!

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

Meet Dino Daddona, Revelwood’s New Vice President of Sales, Americas

December 18, 2024 by Revelwood

Dino Daddona was recently named Revelwood’s vice president of sales, Americas. We sat down with him to learn more about his thoughts on Revelwood.

Q: Why did you choose to join Revelwood?

Dino: The majority of my career has been in roles selling to the Office of Finance. So it was functionally a good fit. More importantly, though, Revelwood is in a unique position in the market. The company is on a rapid growth trajectory and has a legacy of success helping clients transform financial performance and operations. That makes Revelwood a rare find.

Many Revelwoodians have been with the company for many years. That is a sign of a great company. It is a testament to the quality of the leadership, the commitment to individuals’ success and its commitment to the company’s Core Values.

Q: What do you see as Revelwood’s opportunity in the market?

Dino: There is a massive opportunity to help companies transform their Office of Finance. According to Gartner’s Magic Quadrant for Financial Planning Software, “Organizations are increasingly seeking efficient, agile planning and management to respond to market changes.” Frankly, nearly every organization now faces “market changes” on a regular basis. This means that companies – and they are many of them – that still use spreadsheets for budgeting and planning need to modernize their finance operations now.

Workday Adaptive Planning is one of the best financial planning solutions on the market. Revelwood is the leading Workday Adaptive Planning partner in the Americas. Additionally, Revelwood has decades of experience (and awards to prove it!) partnering with IBM. We’ve also received awards from our partner BlackLine.

We are perfectly positioned for exponential growth in the market.

Q: What will you be doing in this new role?

Dino: I’m Revelwood’s first vice president of sales, Americas. I oversee our Sales and Pre-sales teams. These teams are a mix of Revelwood veterans and new team members, some of whom are just entering the workplace. Having a diverse team means that we can leverage both experience and new ideas.

My role also includes strengthening relationships with our partners. Our partnerships are not just traditional technology “Barney hugs.” We invest in training and certifications from our partners. We’re not generalists – we are experts in technology for the Office of Finance. It’s important that our partners understand how committed we are to mutual success.Learn more about Dino.

Read the press release and check him out on LinkedIn.

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.

BlackLine

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.

Read the press release and check him out on LinkedIn.

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:

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