HighRadius

HighRadius provides a broad finance platform with a substantial record-to-report workflow. Close tools cover anomalies, accruals and journal posting. Reconciliation work connects the underlying transactions to the balances that eventually reach group reporting.

Investigating a bank difference

The bank-reconciliation workflow brings in bank statements and general-ledger data. In LiveCube, data can be filtered using the task's context, such as the reporting period. Matching rules align bank and cash-ledger records, while rows in different tables can be connected through a common key.

For missing cash entries, the workflow prepares a journal. Posting back to the accounting system follows approval. This is useful when a finance team needs to distinguish an unmatched bank item from an entry missing from the books.

Close tasks also retain a chronological log of changes. Accountants can attach documents, comments and web links so that reviewers have the explanation beside the task. Templates can supply transaction details when creating journals.

Consolidation and implementation

Consolidation rolls up ledger balances, translates currencies, eliminates transactions between group companies and records adjustments at group level. Chart-of-accounts mapping connects local accounts to the group hierarchy. These processes belong to the Consolidation and Reporting offering; the Close and Reconciliation suite covers its own set of modules.

HighRadius provides pricing through a discussion of the required solution. Its implementation process covers data connections, configuration, training and testing. The quoted scope should identify the company entities, source accounting systems and processes involved. Connections include SAP, Oracle, NetSuite and Microsoft Dynamics, with journal formats depending on the receiving system.