BlackLine

Frustrated by relying on manual and labour intensive processes to complete the financial close?

Many people sink their heart and soul into a spreadsheet labyrinth that attempts to codify and coordinate their balance sheet reconciliation activities. Everybody knows that this approach is a house of cards - spreadsheets upon spreadsheets allow errors to sneak in, get lost and spread out. There is no orchestrating framework that gives management visibility of the progress, faith in the integrity or satisfaction with the efficiency of the process. There comes a time when the auditors will take no more and something has to change.


So how do you ensure a safe and fast close?


There is a way! With BlackLine Finance Controls & Automation orchestrating the tasks and streamlining the account reconciliation process for a more efficient financial close. It replaces manual, spreadsheet-based, error prone processes with automation, control and visibility.

 

BlackLine will:
• Automatically populate account balances and any changes to them during the close process, which saves significant time on reconciling accounts.
• Eliminate the manual process of ticking-and-tying transactions (e.g., bank statements, intercompany, credit cards) to the general ledger, which saves 99 percent of the time typically spent preparing bank reconciliations.
• Automatically certify zero balance accounts and accounts with no activity, allowing accountants to spend more time on other important financial close tasks.
• Automate workflow to ensure tasks continue to move through the appropriate channels at the appropriate times.
• Automate standard and recurring journal entries with bulk journals.

 

Why use BlackLine?

Companies around the world use the BlackLine Finance Controls and Automation Suite to automate their financial close, account reconciliations, journal entries, and numerous other accounting and finance processes. The suite of six integrated products provides accounting and finance departments with end-to-end process that automates and streamlines manual, spreadsheet-driven accounting and finance tasks and adds unprecedented control, visibility, and efficiency.


BlackLine provides a highly configurable suite of six distinct and integrated modules that are also compatible with your finance and operational systems, including all major ERPs. Each module is optimized to solve the specific problems that arise from numerous accounting and finance processes. BlackLine is the solution to your fast close obstacles and can be accessed anytime, anywhere via a highly secure Software-as-a-Service (SaaS) cloud delivery model.

 

BlackLine at a glance

Account Reconciliations automates and standardizes the reconciliation process. It drives accuracy in the financial close by providing accountants with a streamlined method to verify the correctness and appropriateness of their balance sheets. The application provides an intuitive workspace in which accountants can quickly compare data (ERP, bank, subledger, schedules, etc.), investigate discrepancies, attach supporting documentation and take required actions.

 

Task Management provides a configurable, web-based command center where you can manage accounting and finance tasks and processes. Utilizing a hierarchical task list, role-based workflow, and real-time dashboards, the task management product allows users to track and control a variety of task types. Unlock the potential of tasks with customizable templates for month-end close checklists, PBC lists, tax filings, and moe.

 

Transaction Matching High-volume reconciliations can be some of the most time-consuming and painful components of the financial close process. The need to tick-and-tie millions of individual transactions can occupy hundreds of hours each month. BlackLine Transaction Matching streamlines and automates detail-heavy reconciliations, such as bank reconciliations, credit card matching, intercompany reconciliations and invoice-to-PO matching-all in one centralized workspace.

 

Journal Entry provides a controlled, templated approach to centralizing journal entries. It is a complete journal entry management system that allows you to create, review, and approve journals, then electronically certify and store them with all supporting documentation. Journals can be posted to the general (or sub) ledger systems either on demand or in a batch on a schedule. Moreover, pre-posting validation means journals are not rejected from the general ledger due to entry errors.

 

Variance Analysis automates the tracking and analysis of account balance fluctuations.It provides enhanced controls through the identification of accounts whose balances fall outside of configurable thresholds so that these fluctuations can be properly investigated.

 

Consolidation Integrity Manager automates the tedious system-to-system reconciliation process companies perform each month. The process of comparing multiple ledgers to a consolidation system is replaced by an efficient, seamless workflow.

 

Whitepapers

  • Streamline account reconciliation for a safe & efficient financial close
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  • Supporting the fast close
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  • Keys to a fast close
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  • 5 Reasons to transform finance and accounting
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Expert support

Professional Advantage offers support services to our BlackLine customers. Our fully certified consultants work with you from initial planning to system implementation and ongoing product support. Whether your located in Sydney, Melbourne, Brisbane or Perth, Professional Advantage has the local presence to help.

 

We recognise that today's users require a fast, responsive and technically‑proficient support team that is available to address any concerns and can resolve any issue. That's what we have been delivering to our customers for more than two decades.

 

We are also committed to ensuring you receive the maximum return on your BlackLine investment. From consulting to implementation and support, Professional Advantage is just a phone call or a click away.