OneStream Final Balances

[RonnieKarpinsk]

Hello,

I am looking to connect with any OneStream customers who are using OneStream as the source for their final trial balances. Currently we book a few top-sided entries in OneStream and then push them down to their appropriate ledgers the following month. This results in our trial balances coming from our ERPs to always be in balance. We are considering having our Shared Services Team take over some entries from our Controllers that would be top-sided in OneStream and we are considering not pushing them down to the ledgers. We are essentially looking at OneStream as being the source for our final trial balances. We currently use the Account Reconciliations Solution, so we would still reconcile the trial balance and all the tops-sided entries. Is anyone currently doing this? I've seen this done in HFM, curious if any OneStream customers are. Thanks!

Regards,

Ronnie Karpinski

[FredLucas]

Hi @RonnieKarpinsk,

In case you don't get the information you are looking for here you could consider reaching out to your OS Sales Rep. 

They usually have visibility on what many other customers are doing with OS and on specific occasions are able to get you in contact with other customers to share experiences and validate questions like this.

[TimVierhout]

Hi,

We are actually doing this for all of our customers. First note: The figures you pull from the ERP system should always be balanced! 

How this could be configured in OneStream: We generally configure this in a UD dimension; in our default setup, this is UD1. In this UD, we are distinct by where the data is coming from. There is a member for Local input (usually a combination of import from the ERP + some entries done using cube views). On top of that, there are more UDs, which, in general, are journals that are posted for top-sided adjustments. This way, you can distinguish what was done in Onestream from what is coming from the local ERP.

When implementing this, I always propose a few best practices or rules:
- No entries in parents in the entity dimension.
- Try to keep the bookings to a minimum. Your current approach (everything is posted in the ERP) is, for me, the best practice.

With kind regards,

Tim

[RonnieKarpinsk]

Hi Tim,

Thanks for sharing your experience. I agree, the trial balances pulled from the ERP systems have to balance. We always check and confirm that. We have our UD4 dimension as a Data Type. We indicate whether the data is from a GL Load, journal, Form and Excel upload. We pair that with the Origin dimension and its default members to help walk our balances from all data sources. 

Thanks for your best practices! I agree, top-sides should be done at the entity currency/local level. 

Our current approach has worked, but now that we have implemented a Share Services department, we are trying to have that team manage specific entries like payroll, AR & AP. We do not want to grant users access to every legacy ERP system we have, so we were trying to see if other companies manage certain types of entries in OneStream that do not get pushed down to the ERP ledgers. 

Regards,

Ronnie