GL Analysis

What is GL Analysis?

GL Analysis is a cutting-edge tool that provides powerful insights and risk assessment across critical business operations. With GL Analysis, you can identify anomalies and unusual patterns in various areas that require attention for a comprehensive view. Whether it's analyzing general ledger data, company card transactions, payroll allocations, revenue recognition, or vendor invoices, GL Analysis has got you covered.

GL Analysis offers a range of risk analytics tools tailored to different aspects of financial operations. From spotting trends and safeguarding company card transactions to reducing potential financial loss associated with inaccurate payroll allocation or incomplete invoices, GL Analysis helps organizations stay on top of their financial health. By continuously monitoring unusual transactions, GL Analysis allows you to catch issues before they escalate, enabling timely action to avoid costly reactions. With over 250 unique machine learning control points, GL Analysis is the global leader in financial risk discovery and anomaly detection.

Deployed to over 27,000 accounting, finance, and audit professionals globally, GL Analysis automates and pinpoints what to look for, turning the analysis process into something targeted and efficient. By combining advanced technologies with industry expertise, GL Analysis helps organizations digitally transform their audit processes, providing increased quality and value to clients while enhancing public trust.

GL Analysis Features

Feature 1: General Ledger Analysis

General Ledger Analysis is a crucial feature offered by GL Analysis, allowing users to identify anomalies and unusual patterns in areas that need focus for a holistic view. This feature plays a vital role in enhancing financial analysis and accuracy by providing insights into potential risks and errors within the general ledger.

• General Ledger Analysis operates by analyzing every transaction within the general ledger using pre-built machine learning algorithms. These algorithms detect errors and risks that may be hidden within the data, providing a comprehensive view of the financial health of the organization.
• Users can access and utilize the General Ledger Analysis feature by inputting their financial data into the GL Analysis platform. The platform then processes the data and generates reports highlighting any anomalies or unusual patterns within the general ledger.

Feature 2: Company Card Risk Analytics

Company Card Risk Analytics is a feature designed to help users uncover anomalies, spot trends, and safeguard company card transactions. This feature is essential for organizations looking to protect their financial assets and prevent fraud or misuse of company cards.

• Company Card Risk Analytics operates by analyzing company card transactions in real-time. The platform uses AI-powered algorithms to detect any unusual activities or suspicious patterns within the transactions, providing users with valuable insights into potential risks.
• Users can access the Company Card Risk Analytics feature through the GL Analysis platform by inputting company card transaction data. The platform then processes the data and highlights any anomalies or trends that may indicate fraud or misuse of company cards.

Feature 3: Payroll Risk Analytics

Payroll Risk Analytics is a feature that helps organizations reduce potential financial loss associated with inaccurate or fraudulent payroll allocation. This feature is essential for ensuring the accuracy and integrity of payroll processes within the organization.

• Payroll Risk Analytics operates by analyzing payroll data to identify any discrepancies, errors, or anomalies. The platform uses AI-driven tools to detect potential risks in payroll allocations and highlight areas that require attention or correction.
• Users can access the Payroll Risk Analytics feature through the GL Analysis platform by inputting payroll data. The platform then conducts a thorough analysis of the data, flagging any irregularities or unusual patterns that may indicate payroll fraud or inaccuracies.

How to Use GL Analysis?

• Open your web browser and navigate to the GL Analysis website.
• Enter your username and password.
• Click on the 'Sign in' button to access your account.

• Once logged in, you will see the dashboard.
• Select 'Products' from the main menu.
• Click on 'General Ledger Analysis' to open the module.

• In the General Ledger Analysis module, locate the 'Upload Data' button.
• Click on 'Upload Data' and select the file containing your general ledger information from your computer.
• Ensure the file follows the required formats (e.g., CSV, Excel).
• Confirm the data upload by clicking 'Submit'.

• Select the specific analysis parameters you want to configure (e.g., date range, account codes).
• Use the available filters to narrow down your focus (e.g., specific departments, transaction types).
• Click 'Apply Filters' to set these parameters for the analysis.

• After configuring your parameters, click on the 'Run Analysis' button.
• Wait for the system to process your data and generate the analysis results. This process might take a few minutes depending on the size of your data.
• The results will be displayed under the 'Results' tab within the General Ledger Analysis module.

• Navigate to the 'Results' tab to view the analysis outcomes.
• Examine the summary of anomalies and unusual patterns detected in your general ledger.
• Click on any specific anomaly to get more details and insights about the irregularities.

• If needed, click on the 'Generate Report' button to create a detailed report of your analysis.
• Choose the report format you need (e.g., PDF, Excel).
• Click 'Export' to download the report to your computer for further review or sharing with stakeholders.

• To enable continuous monitoring, go to the 'Settings' menu within the General Ledger Analysis module.
• Select 'Continuous Monitoring' and configure the parameters based on your needs.
• Save the settings to ensure ongoing review of financial data for anomalies.
• Receive alerts and notifications for any unusual activities detected by the system.

GL Analysis Frequently Asked Questions