3. Meaning of Record to Report
•Record:
Recording all business transactions with financial impact
•Report:
Reporting financial statements and other reports when requested
4. Accounting Real Time Integration
All Business Transactions with financial impact are posted directly to finance at
the same moment
Procure To
Pay
Order to
Cash
Production
Planning
Accounting
5. Recording: Fixed Assets
Recording all Fixed Assets Transactions:
Acquisition
Retirement
Depreciation
Other transactions
Any posting is reflected in the asset register and
asset financial Accounts
Real Time
Integration
Fixed
Assets
6. Recording: Accounts Receivable
Recording all Accounts Receivable Transactions:
Billing
Payment
Other Postings
Any posting is reflected in the customer account and
in the control (reconciliation) account at the same moment
Fixed
Assets
Customer A
Customer B
Customer C
Customer
Reconciliation
Account
Accounts
Receivable
Real Time
Integration
7. Recording: Accounts Payable
Recording all Accounts Payable Transactions:
Invoicing
Payment
Other Postings
Any posting is reflected in the vendor account and
in the control (reconciliation) account at the same moment
Vendor A
Vendor B
Vendor C
Vendor
Reconciliation
Account
Accounts
Payable
Fixed
Assets
Accounts
Receivable
Real Time
Integration
8. Recording: General Ledger
Recording General Ledger Transactions:
Postings not related to other Business Processes
Accounts
Payable
Fixed
Assets
Accounts
Receivable
Real Time
Integration
General
Ledger
9. Reporting
Reporting the numbers recorded in all business processes
Financial Statements and other reports are updated in real time
All reports can be generated whenever requested
Accounts
Payable
Fixed
Assets
Accounts
Receivable
Real Time
Integration
General
Ledger
Reporting