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  • Profit-Loss Comparison Across Systems for Variance Recognition (simplified)
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Profit-Loss Comparison Across Systems for Variance Recognition (simplified)

Banking Financial services Reconciliation Financial services and banking

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This workflow compares Profit-Loss information from two systems and outputs differences found between the systems. The parameters that can be compared are Net Sales, Cost and Gross Profit. The goal is to be able to spot errors in manually inputed data in a given system, and to alert people responsible for each document where a discrepancy was found. Each system can contain information about certain financial operations that happened for specific transactions (here referred to as Documents). In System 1, we have the total effect of a given document in a country (here defined as Market), and information about net sales, cost and gross profit that document inflicted in a market. In system 2, we have information for each document, but related to the different cost centers associated to that transaction. In this workflow, we: - Perform some general data manipulation, where we enforce certain guideline handling (for instance, we can select to always disconsider certain cost centers, if necessary) - Categorize a certain operation in a cost center as a profit or loss - Create comparison columns in the Calculate variances step - Save an excel report containing information about the compared values in the output part - Notify every responsible person via email about the discrepancies found on the system

Used extensions & nodes

Created with KNIME Analytics Platform version 4.4.2
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    Continental Nodes for KNIME Trusted extension

    Continental

    Version 1.3.0

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    KNIME Base nodes Trusted extension

    KNIME AG, Zurich, Switzerland

    Version 4.4.2

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    KNIME Excel Support Trusted extension

    KNIME AG, Zurich, Switzerland

    Version 4.4.2

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    KNIME Javasnippet Trusted extension

    KNIME AG, Zurich, Switzerland

    Version 4.4.2

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    KNIME Math Expression (JEP) Trusted extension

    KNIME AG, Zurich, Switzerland

    Version 4.4.0

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    KNIME Quick Forms Trusted extension

    KNIME AG, Zurich, Switzerland

    Version 4.4.2

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    Lhasa public plugin Trusted extension

    Lhasa Limited (http://www.lhasalimited.org)

    Version 1.1.500

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