Ongoing Account Reconciliation

The process you used to reconcile the periods of your historical data can and should be used to reconcile the data loads each month. Yes, after each load you absolutely need to check that the load worked and the data was consolidated successfully. You can minimize the effort by having some plan of attack. So for each load, you need to rerun your reconciliation process. You may find that you can do this at a summary level.

You should also create a process for reconciliation for each feed downstream of the application. You could be moving data from HFM to a Planning or Essbase application. You could be moving data from HFM to a data warehouse or data mart. This reconciliation process would not be very different from the ongoing data-loading reconciliation. Each time you have an integration of data, you need to have some method for validating that the systems do in fact reconcile. When you employ a tool like Financial Close Manager, you can even audit and track these reconciliations, ensuring that your process has integrity.