Challenge
When you’re looking to create audit-ready documentation of your Record to Report (R2R) process, Journal Entries (JEs) are often the missing piece of that very important puzzle. Journal entry is a key control in the financial close that validates the accuracy of standard and non-standard entries to systems like your ERP, centralizing all comments, workflows and support in one place.
Capabilities
- Automate the scheduled posting of journal entries, such as recurring journals, to greatly reduce the effort and opportunity for error
- Create two-way communication between Cadency and any third-party system, strengthening governance and removing ambiguity that lengthens the close process
- Configure workflows to allow for the delivery of real-time transparency into the status of journal entries
How It Works
By supporting a fully configurable end-to-end workflow, Cadency Journal Entry bypasses common issues found in manual approaches to deliver real-time visibility, control and validation of the status of all journal entries. As a result, the JE process gains both a stronger governance in the R2R process and the centralization of information required for audit-ready documentation.
