Reconciliation and Journals Improvement

Client: Specialty Staffing Agency

Project Overview and Objectives:

A large specialty staffing agency was looking to standardize and automate its account reconciliations and journal entry processes. The company engaged Clearsulting to redesign the account reconciliation and journal entry processes and policies. Leadership was also focused on increasing efficiency and effectiveness of transaction matching and bank account reconciliations and re-engaged Clearsulting to implement the BlackLine matching module. The goals of the projects were to:

  • Define and implement leading practice account reconciliation and journal entry policies
  • Implement leading practice account reconciliation and journal entry processes using BlackLine Account Reconciliation & Journal Entry modules
  • Improve reconciliation process efficiency by implementing BlackLine transaction matching

The Clearsulting Delivery / Value

Established scalable and leading practice reconciliation and journal entry processes and policies
Successfully implemented the BlackLine Account Reconciliation and Journal Entry modules

  • Significantly decreased the total time to perform close and reconciliations (increased analysis)
  • Created visibility over the reconciliation and journal entry processes
  • Established and standardized account reconciliation and journal entry controls
  • Reduced the number of manual account reconciliations to 10%

Streamlined the account reconciliation process by implementing BlackLine Transaction Matching

  • Reduced time required for preparers to identify exceptions for account reconciliations
  • Introduced an automated workflow of data into matching solution to quickly identify reconciling items
  • Developed matching solutions for payroll checking, AP checking, lockbox, intercompany AR, AR clearing, and payment card accounts
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