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Our accounting team is looking to automate journal entries with Alteryx, but we are running in to a documentation/audit support issue. All our journal entries should have corresponding support to review how conclusions were met. For example, we would attach an Excel workbook to identify our conclusions. This wouldn't be an issue if the Alteryx workflow generating the journal entry wouldn't change. We are afraid workflows will have multiple iterations and we will be unable to determine which workflow version was used when creating the historical journal entry.
Possible Solution: Have Alteryx output details about the workflow (name, version, date run, who ran it, etc.) in conjunction with the journal entry upload file?
I understand this isn't a technical question, but I am curious if anyone in the community has any ideas!
Depending who our auditors are, the may accept the workflow itself as documentation. If your workflow changes, then you just provide the latest and greatest. It might be worth a discussion with the auditors to see what they are willing to accept as proper documentation.
As you can see, many of the items you suggested can be output into a sheet in a workbook -- so it's not an issue.
As an FYI, I am an IT guy who has sat in a Corporate Tax dept for 10 years.
I am also just starting to build workflows to automate some of my Global Finance department's journals as well. Not knowing how complex your journal entries are and what calculations you have in your workflow, would it not be enough to give the auditors some of the input files that are the basis of the numbers or the amortization schedules?
Example one: Accrual based upon a budget amount would just match the actual input file for these budget numbers.
Example two: For amortization of prepaids, I would expect you would have a balance sheet schedule (amortization sch) that you can just provide. Or somehow generate a sch out of the workflow with the beginning of year prepaid amount and end of year amt and let the auditors validate the amount booked during the yr is correct.
Example three: For something like expenses, wouldn't providing the invoice or basis of the expense be enough? I'm not sure what the need is for the auditor to look at the workflow in this instance.
Revenue might be harder as there may be many more inputs and calculations but maybe you could generate a report with outputs from the various parts of the workflow to show how the numbers changed.
Sorry if I'm thinking about it too simplistically but just trying to think about what Accting entries you would be automating. Maybe if you can provide an example, someone can help you think of what backup would work.