General Ledger (GL)\Intercompany Accounts

Current State

Future State

• 10 COA structures across 6 computer systems
  • Reconciliation and settlement of intercompany activity is time-consuming
• Diverse designs, closing checklists and staffing requirements
  • Manual processes
  • Lack of full integration with some key 3rd party interfaces
  • Minor staffing fluctuations may cause disruption of closing process
• Challenge to obtain timely and accurate consolidation of financial information at a system level
  • Highly manual
  • Must be completed outside the primary system (i.e. Excel)
  • Structural inconsistencies in the GL strings make it challenging to compare data

• One centralized accounting team to manage all JEs and AP activity
• One LLUH with one year-end and a single COA structure
  • Provides the ability to efficiently handle intercompany activity
  • Common processes across the enterprise in supply chain, AP, AR, AM and GL
    • Better controls to ensure accounting activity flows correctly
    • Automated interfaces and allocations
    • Less time spent researching errors – more time for analyzing data
  • Benefit – ability to close the books more efficiently and provide timely reporting
    • System generated income statements, balance sheets and consolidated reports will
    • Timely operational reports will be readily available for management