BlackLine provides software that automates and manages complex, manual, and repetitive accounting processes. The June 2016 BlackLine release combines customer feedback and ideas to enhance the solutions many organisations already use to improve and streamline their end-to-end financial close processes. Unlike the previous release back in October 2015, the June 2016 release focusses specifically on enhancements to existing BlackLine solutions rather than offering completely new tools and features.
Key enhancements delivered in the latest release include:
- Improved amortization functionality for Account Reconciliations
When creating an amortization item, BlackLine will calculate partial amount in the first and last month so you don’t have to manually edit the amount after BlackLine calculates the amortization, saving time and effort.
- Enhanced Task Management features and administration
Task preparers and reviewers can drill down to the assignment directly from the task dependencies screen. You will be in the assignment with the permissions of your role so if you are a preparer you can drill down from the task dependencies to your assignment and you can add comments right away and certify that particular task.
- Streamlining Journal Entry creation
Journal Entry now has the ability for automated journals to use reconciliation items as a data source. This saves a lot of time as it allows you to create journals that are pre-populated with information from the reconciliation or items.
- Bilateral netting in Intercompany Hub
This is a brand new feature that has been added to intercompany Hub. This feature displays the net values owed between two transacting entities from both the net receivables and net payables perspective in the settlement grid and settlement matrix. It reduces the amount of settlement payments required to settle intercompany accounts and dramatically increases the efficiencies of the settlement process within the organisation.
- New capabilities of Variance Analysis
Variance Analysis provides greater visibility by displaying the percent of the overall account variance that remains unexplained, as well as two new fields on the Grouped Accounts grid highlighting the difference between the GL Balance, the Variance Balance and its associated variance percentage.
For further details, or to request a personalised demonstration of BlackLine, please contact Gary Waylett on +44 203 866 8809 or send an email. Alternatively, download these useful whitepapers on automating and streamlining manual, spreadsheet-driven accounting and finance processes: