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BlackIron
SubLedger Plus
Comparisons to Traditional Accounting and Control Methods
SubLedger Plus offers signficant operational efficiencies and tighter financial
controls over traditional methods. Traditional methods frequently
rely extensively on spreadsheet based procedures for journal entry creation, reconciliation,
analysis and reporting.
Spreadsheet based procedures have several disadvantages when compared to SubLedger
Plus:
- Spreadsheets require manual input and other low value tasks like cutting, pasting, formatting, sorting, and manual matching
- Spreadsheets are not scalable
- Spreadsheet procedures often include complex, multi-step tasks that increase risk of error and require institutional knowledge
- Spreadsheet data is siloed in individual files and cannot be efficiently mined or aggregated
- Spreadsheet based analytics, reports and reconcilations become out of balance as a result of late journal entries and require manual updates
- Spreadsheets have limited security and limited change tracking
Here's a brief comparison of how traditional methods compare to SubLedger Plus
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Traditional
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SubLedger Plus
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Journal Entry Creation |
- Some automated journal entries from host systems
- Typically many manual journal entries using amounts from reports, spreadsheets or other sources
- Manual journal entries for adjustments and error correction
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- SubLedger Plus automates journal entries from all sources including adjustments
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Reconciliations and Analytical Reviews |
- Typically spreadsheet based
- Typically reconciled at a summary level. Isolating and understanding variances can be complicated and time consuming.
- Typically performed at period end which lengthens the close.
- Not dynamically linked to the general ledger - if general ledger balances change the work must be updated manually
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- SubLedger Plus performs reconciliations automatically at a detailed level
- SubLedger Plus is continually sychronized with the general ledger and the reconciliations are updated automatically as general ledger balances change
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Detailed Reporting |
- Typically spreadsheet based
- Typically involves downloading information from host systems and manually adding adjustments
- Requires manual reconciliation to general ledger balances
- Not dynamically linked to the general ledger. If general ledger balances change the report must be updated manually
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- SubLedger Plus generates great looking reports that are always reconciled to your
general ledger
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