BlackLine’s account analysis template controls provide a powerful way to standardize the commenting and analysis procedures within your organization’s account reconciliation process.
Adding account analysis template controls within your BlackLine reconciliation product adds a new section to whichever template you choose that displays the previous and current period balances, and provides a dedicated space where team members can enter comments to explain any fluctuations between those balances.
An Example of the BlackLine Account Analysis Template’s Effectiveness
As an organization grows, it may have a sudden spike in revenue in the current period that, as someone reviews those entries, triggers an understandable question of what caused the increase. The gain could result from the organization landing a large client or order, or a surge in smaller transactions that combine to create a large total.
Because these scenarios can have different implications for the organization’s ability to collect and recognize the revenue, it can be helpful for reviewers or auditors to understand, at a glance, the factors driving the increase.
The dedicated comment field within a BlackLine account analysis template control provides this space. Management or auditors can see what’s going on without having to drill down into other fields or asking questions about the factors causing the large increase.
Advantage of Adding on the Analysis Template
One advantage of activating the template controls is standardizing the organization’s approach to comments among the various reconciliation templates. Just as the templates increase efficiency and standardization within each specific reconciliation, activating the account analysis control ensures a consistent approach to understanding and commenting on fluctuations.
If someone has a question about the organization’s performance, they can access the information they need without having to drill into the underlying data or to search for comments.
Easy Activation Process
Any organization using BlackLine’s account reconciliation product can add account analysis template controls to their various templates by reaching out to their administrator and BlackLine sales representative to find out more.
As with any customization, BlackLine’s best practices call for the administrator to clone the standard template and to add the control to the cloned template. This allows the organization to maintain an unaltered copy of the original template if it needs to restore or revert to that template.
If you’re interested in improving your financial close process or learning more about how BlackLine can help, contact our team.