Review the Matching Module
If you’re using BlackLine’s matching module, the end of the year is a great time to review your matching setup. For example, review the matched transactions grid to ensure there are no unloaded transactions that need administrative action. If there are unloaded transactions in any match sets, review the transactions and follow up with the preparer to see whether these lines should be deleted from the system.
In the unmatched transaction section, review the number of unmatched transactions and the posting dates for each match set, and follow up with the assigned preparers if the dates or number of transactions fall outside of your company’s tolerance.
It’s also important to review the pass rules for all match sets to see if they are performing appropriately. One item to look for is whether any rules display the word “delete” with a blue hyperlink, which indicates that this rule has not picked up any matches yet. This rule may need to be deleted, inactivated, or adjusted.
Another good time to review a match set is when any new types of transactions are expected to come in, such as for a new vendor or document type. Some pass rules may need to be created to capture expected matches appropriately or updated to ensure the new transactions are matched.
Review Journal Validations
If you’re using the journal module, review any validations to ensure they are correct and up to date. This information is typically a scheduled import directly from your ERP. However, it is a good practice to validate this information at least once a year to ensure that it is still accurate and correct.
Similarly, if your company is using journal masters, check to see if any active journal masters are set to end at the end of the year. It may be helpful to send a list of these entries to the preparers to ensure they are set up correctly, if any adjustments need to be made, or if the entry needs to be recreated for the new year.
BlackLine has a journal setting that requires users to enter an end date for all journal masters, so those entries do not run indefinitely. If this is not activated, it might be worthwhile to have a conversation with your management, internal controls, or audit to see if this is a setting that your company should be taking advantage of.
If not, it’s important to have preparers review the entries at least annually to ensure the entry is still necessary and correct. Since these entries typically auto-certify each month, it can be easy to lose sight of these entries. Year-end is a good time to validate and review these items, especially since numbers or accounts may change.