BlackLine Review

Overview

BlackLine is a cloud-hosted accounting tool that enables enterprises to take ownership of their forecasts and budgets. You can customize the application for your business and industry needs. Main functionalities include dashboarding and financial consolidation and reporting. You can access the system on desktop and mobile devices. BlackLine’s dashboard presents graphs and charts that permit managers to analyze datasets and drill into details. You can produce reports in MS Office file or web format. Other capabilities include account reconciliation, fluctuation analysis, and automated journal validation.

Enterprises can set budgets for both external and internal compliance. They can utilize reports to retroactively analyze expenses and trends. BlackLine’s forecasting feature predicts spend agility and plans revenue streams. The vendor delivers support via phone and email.

Benefits

Four Chief Functionalities

BlackLine offers a range of financial automation modules which combine to make up the Finance Automation and Controls system. These modules automate processes related to financial close and reconciliation and internal controls management. BlackLine’s financial close management module presents four main capabilities: journal entry, transaction matching, task management, and account reconciliations.

Account Reconciliations

You can leverage the account reconciliations functionalities to compare information from multiple locations and systems to reconcile the account balance in all balance sheet accounts. Further, you can assign tasks to accounting teams and delineate the account reconciliation procedure. The task management tool presents advanced reporting and real-time dashboards for full visibility and insight on task progress. A web-based task-related file repository stores all task attachments in a single location.

Other Advantages

You can perform automated reconciliations like invoice-to-PO matching, intercompany reconciliations (schedules, sub-ledger, bank, ERP etc.), credit card matching, and bank reconciliations.

BlackLine sends real-time notifications to users on pending tasks as well as alerts to management about bottlenecks and past-due tasks.

You can manage multiple types of accounting transactions including third-party invoices to internal records; bank to accounts receivable; investment transactional matches; intercompany transactions; invoice received; not invoiced to received; bank to credit card; bank to general ledger, and more.

The risk center permits you to produce ad-hoc queries for your dataset to handle exposure.

Generate task workflows and task dependencies to ensure proper processes are followed.

Finally, account reconciliations include integrated storage of supporting documentation, linkage to procedures and policies, processes for review and approval, and standardized templates.

Product Features

Pricing

BlackLine pricing information is not publicly available. Please contact the company’s sales team for a quote.