Spotlight on Business Intelligence: General Ledger Allocation Summary

The General Ledger (GL) Allocation Summary is a critical financial reporting tool provided as part of Revcon Logistics' Freight Audit and Payment Processing service. This report ensures that all transportation costs are accurately allocated to the appropriate GL accounts based on each client’s predefined accounting business rules. By automating and streamlining this process, Revcon eliminates the manual burden on internal finance teams, resulting in improved efficiency, enhanced financial accuracy, and measurable cost savings.

Key Features & Benefits

1. Automated GL Coding & Allocation:

   • Each transportation invoice is assigned to the correct GL account per client-specific accounting rules.

   • The allocation occurs at the individual bill level, ensuring precise cost tracking.

     
     

2. Consolidated Summary for Financial Clarity:

   • The report compiles all allocations into a high-level view, detailing:

     • GL Account Number

     • Total Number of Shipments Allocated

     • Total Invoice Amount Allocated

       
       

3. Seamless Integration with Financial Reporting:

   • The summary report is delivered on a weekly basis, aligning with the weekly consolidated invoice.

   • Clients can generate reports for any custom date range, offering flexibility for financial forecasting, budgeting, and audit compliance.

     
     

4. Operational & Financial Advantages:

   • Reduces time and labor spent on manual GL allocation.

   • Enhances reporting accuracy, reducing errors and reconciliation issues.

   • Supports cost control initiatives by providing clear, data-driven insights into transportation expenses.

By leveraging the General Ledger Allocation Summary, Revcon’s clients benefit from a streamlined, reliable, and scalable solution that simplifies financial reconciliation and drives bottom-line savings.