Protecting the General Ledger

Your general ledger is the heart of reporting and an area of key risk for fraudulent financial reporting. Mistakes in the journal entry process are challenging to correct when they are discovered during the closing process and, left uncorrected they can lead to misrepresentation of your financial results —a clear violation of Sarbanes-Oxley regulations. It's critical to be confident in the completeness, accuracy, validity and integrity of all of your GL postings.

Oversight Systems gives you complete visibility into your accounting and reporting systems to identify mistakes or violations as they happen and before they impact the financial reporting. We use advanced analytics to monitor the automatic postings from sub-ledgers and manual journal entries . And as exceptions occur in these financial processes, the appropriate individuals are notified immediately so they can quickly resolve issues in the underlying financial systems. Integrated workflow features make it easy for you to track, follow-up and validate the resolutions.

Quickly Resolve Journal Inaccuracies
Because Oversight monitors your accounting and reporting systems in real time, exceptions are resolved quickly, before they turn into larger business issues:

Oversees segregation of duties in relation to the general ledger.     Identifies duplicate or unbalanced journal entries.     Ensures all sub-ledgers accurately feed the general ledger.     Flags entries with an unusual amount or time of entry.     Makes sure standard, recurring journal entries occur as planned.     Locates inappropriate manual entries.     Identifies deviations between sub-ledgers and the general ledger.     Ensures each account maintains a normal balance, avoiding contra balances at the end of an accounting period.     Makes sure all journal entries are valid and contain all necessary information.     Pinpoints unauthorized interference with the general ledger.