Overview

The Account Reconciliations solution rapidly delivers a new level of data quality and risk reporting. OneStream has a single source platform for all GL trial balances, including transactional level balances, and allows users to reconcile reported data and drill directly to Reconciliations from financial reports. OneStream supports the critical transparency and audit requirements of the enterprise while leveraging the core Platform capability.

Account Reconciliations accomplishes the following:

• Points to the loaded data in the OneStream Stage which is the source for approved financial statements reported out of a OneStream financial model.

• Leverages existing OneStream metadata structures to help automate this process and keep everything in sync. If new Accounts are added within a defined range, the Preparer is notified and can act.

• The solution uses the exact same data already imported and validated in the Stage to discover reconciliation items so there is no need to reload trial balance data to reconcile differences. This also significantly accelerates its total implementation time.

• Allows the ability to reconcile in a single currency or multiple currencies. Additionally, the solution’s flexibility allows for the ability to enable multi-currency at the reconciliation level.

• Send notifications when a reconciled balance changes due to tight integration with financial data allowing stakeholders to take action.

• Provide ultimate flexibility by having users enter Reconciliation Explanations via Excel Templates.

• Drill directly from financial reports to Reconciliation details to show what percent of an account's source values were reconciled.

• Accelerate training for some preparers and reviewers who are already familiar with OneStream Workflow.