Record to report / R2R – General Accounting

We have been talking about various types of reconciliations and shared a number of workflows with you. The links are given below:

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Today we will move on to the next big quasi-transactional component of the record to report / R2R processes, i.e. General Accounting. There is a reason why I call this as quasi-transactional. A big chunk of these activities are actually routine, some can actually be standardized / scheduled, but they surely need some monitoring do be done. In some cases, before these can be standardized, they will need the approval from the CFO approval hierarchy. In some cases the routinized outputs will need manual adjustments and also reconciliations. This group of activities often is the foundation to the reporting under the R2R function.

A listing of these is given below:

  • General Accounting
    • Journal Entries
    • Intercompany accounting
    • Book closures
    • Trial Balance preparation
    • Accrual
    • Consolidations
    • Cost Accounting


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