Rule-based Ledger Entry

Rule-Based Ledger Entry

This workflow handles rule-based ledger entry and reconciliation. It focuses on 3 steps:

1. Application of general rules in our data. Examples are: we know specific records or categories should never be modified, therefore these need to be excluded from any adjustments or certain combinations of codes in our ledger data bank are invalid: these need to be updated. This is handled in our first step, taking into consideration of the guidelines already established in our financial institution.

2. Filtering of records: We take our prepared data in the first step and filter down all records that should be reconciled based in the information provided by another department.

3. Adjusting values: The worfklow maps the filtered down data table into an adjustment table and calculates the correct adjustment values.

The highlights of this workflow are that it can:
1. Access data from multiple sources
2. Apply rules and definitions automatically
3. Adjust values based on an adjustment table
4. Provide a range of deployment methods

External resources

• How Automating the Journal Entry Process Drives Efficiency