SYSTEMS AND METHOD FOR COMBINED ACCOUNT RECONCILIATION AND VARIANCE/FLUX ANALYSIS

A financial close automation (FCA) system receives or retrieves account data from one or more enterprise resource planning products (ERPs). The FCA examines the balance sheet for a given account and determines whether the account is auto-certifiable, and whether the unknown balance is below a thresh...

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Bibliographische Detailangaben
Hauptverfasser:	Tayal, Ankur, Tobin, Jessica Lee, Espinosa, Ellen Frances, Jafari, Amir Vakili
Format:	Patent
Sprache:	eng
Schlagworte:	CALCULATING COMPUTING COUNTING DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES ELECTRIC DIGITAL DATA PROCESSING PHYSICS SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:	A financial close automation (FCA) system receives or retrieves account data from one or more enterprise resource planning products (ERPs). The FCA examines the balance sheet for a given account and determines whether the account is auto-certifiable, and whether the unknown balance is below a threshold amount. If the answer to either inquiry is no, the FCA generates a task for the general ledger owner to provide an explanation for the discrepancy. A task is the created for a manager to review the provided explanation. If the manager does not approve of the provided explanation, additional information may be required. Once the manager approves the provided explanation for the discrepancy, the account is certified. If the account is auto-certifiable and the unknown balance is below the threshold amount, the account is auto-certified.