When configuring the account reconciliation module in your OneStream application, administrators must consider how to manage inventory and account groups while ensuring ease of use for end users. If you choose to set up the account reconciliation module at the local workflow level, you decentralize maintenance and governance. This approach requires controllers from multiple entities or business units to navigate through different workflows to complete their reconciliations
However, OneStream's workflow hierarchy allows parent workflows to retrieve imported data from underlying workflows. This provides the flexibility to set up the Account Reconciliation module centrally within workflows. By using security settings, such as primary preparers and approvers for each reconciliation item, administrators can manage the accessibility of the module from a single point on the OneStream platform.
Example
Account Reconciliation manager provides users and administrators with an integrated solution for streamlining your reconciliation items. Often the reconciliation process is a manual task or another system is used, creating additional challenges. With this module of the Solution Exchange, we guide users through their reconciliation process.
Versus
If you choose to set up the Account Reconciliation Module centrally, the corresponding dashboard should be added to the top parent workflow. This way we can retrieve all the Actual data that has been imported into the underlying workflows.
When we navigate to the Account Reconciliation Module, we see that all data from all entities come in, providing one central point of maintenance from the administrator's perspective and easy navigation from the end user's perspective.
By using the various roles in the Account Reconciliation module, such as Preparer, Approver, Viewer and Access Group, security remains.
Want to learn more about Account Reconciliation in OneStream? Then contact me or keep an eye out for the Account Reconciliation webinar in October 2024.
