Online balance sheet reconciliation comes to UK

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John Stokdyk
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Californian balance sheet reconciliation cloud software specialist BlackLine Systems is expanding into Europe from a new base in London.

BlackLine founder and CEO Therese Tucker visited the UK in December to open up the new operation and to explain to the natives why they should consider the company’s web-based balance sheet reconciliation system.

Reconciliations are a staple activity in most finance departments, where someone has to check various balances to examine and document how they were calculated, so that another accountant could use the information to confirm that the reconciliation was completed correctly.

The BlackLine online reconciliation system emerged from her work as in treasury and financial systems development and consultancy. A client sought help with...

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11th Jan 2013 14:18

We've got something similar ourselves

As an organisation we implemented something similar last year; AssureNet (by Trintech).

The methodology is the same, i.e. the idea being to create reconciliations which;

-are standardised across the business (and therefore easier to review as well as prepare),

-reconciled to true ledger entries by way of direct links to ERP system data and attachments(Oracle in our case)

-reduces the use of paper

-works efficiently is the case of multinational operations, overseas shared service centres, etc.

-makes the auditors happy!


The idea of Assurenet is fine, but the execution leaves something to be desired. By this I mean that the operations are somewhat clunky and slow, and work has been known to be lost by system time-out issues. I'm not sure what the cost per user is, but I'm sure it's not cheap.


Be interested to hear of others experiences of either Assurenet or Blackline.

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17th Jan 2013 12:35

i am slightly surprised by the need for this

but may be missing a trick or two, surely companies with good internal controls etc should be all over this in the first place?

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By chatman
19th Jan 2013 12:08

Really Ms Tucker?

“Until Sarbanes-Oxley came along, nobody focused on reconciliation.”

Maybe she didn't, but accountants did. Rather weakens your faith in a person when they present a fundamental principal as a revelation.

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