Accounting Transformations

Accounting transformation refers to the process of converting transactions or activities from source systems into journal entries.

Source systems are typically industry-specific applications that are either purchased from third parties or built internally within the customer organization. Examples of such source systems include: core banking applications, insurance policy administration applications, billing applications, and point of sales applications.

Accounting Transformation Steps

Complete the steps described in the following table in the order listed to account for transactions coming from different source systems.

This table contains the steps in the uptake process which include analyze, build, and implement and test.

Implementation Phase	Step Number	Description
Analyze	1	Analyze transaction flows and activities to determine the transaction life cycle to capture.
	2	Analyze your accounting, management reporting, audit, and reconciliation requirements. Ensure that the source system provides the required attributes to generate this information.
Build	3	Register the source system with transaction types and details using the rapid implementation spreadsheet template.
	4	Configure accounting rules and assign accounting method definitions to ledgers.
Implement and Test	5	Upload transaction data for testing.
	6	Perform comprehensive testing to ensure that all accounting is correctly generated.