Fix system error
Accounting systems conversion consulting
- Client recently implemented an Oracle ERP system.
- Project ledger did not reconcile to the General Ledger ($10M variance).
- Investigate the cause and fix it.
- Over a period of nine months, we worked with the existing accounting, program finance, and IT teams to identify the processes (or lack thereof) that were causing the variances, implement controls to prevent them from occurring, as well as a review process to catch any new control deficiencies.
- The project ledger and general ledger are in balance, primarily due to preventative controls that were implemented, along with detective reconciliation controls.
- Monthly variances are usually less than $100 (whole dollars) each month, enabling the accounting and finance teams more time to focus on operations and improving profitability.