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Ledger Reconciliations

RonnieKarpinsk
New Contributor III

My background is with HFM and BlackLine, so I am still learning the ropes with OneStream. Does the Account Recs module allow for ledger to OneStream reconciliations? I'd really like to manage our ledger reconciliation process in OneStream if possible. My vision would be to take the ledger extract, load it into OneStream and then take a OneStream Extract and the two should net to zero. Has anyone implemented a similar process?

2 REPLIES 2

LeeBown
New Contributor III

Yes, you can do source G/L account reconciliations. 

The solution sources the same Trial Balance loaded into your Actual scenario pulling the source account data from the Stage table.  

As a result there is no potential for imbalance between the ending balance in any given account and the Account Reconciliations tool.  In fact, if the Actual scenario is reloaded during the close process will flag any individual source accounts that have changed will be flagged in Account Reconciliations.

 

 

Sai_Maganti
Contributor

I think Account Reconciliation is an overkill for what you're trying to do. I assume you just want to check if your onestream extract is matching to the GL balances, ie., not missing any transactions. If this is the case we do a similar process on a daily scheduled basis and this is what we do:

  • Our ERP sends out a csv file with balances to a onestream email created for the purpose
  • we have a business rule which extracts the file, parse it and check the balances with what has been loaded via our integration (direct connection). We check Entity, Account and a few other dimensions balances
  • an email is sent out to admins with all the differences including zero balances
  • This is an automated process and runs daily after the data has been loaded to Onestream. This is an important check for us during closing