Editing Balance sheet (section)

==Substantiation==
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'''Balance sheet substantiation''' is the [[accounting]] process conducted by [[business]]es on a regular basis to confirm that the balances held in the primary accounting [[system of record]] (e.g. [[SAP ERP|SAP]], [[Oracle Database|Oracle]], other ERP system's General Ledger) are reconciled (in balance with) with the balance and transaction records held in the same or supporting sub-systems.

Balance sheet substantiation includes multiple processes including [[Bank reconciliation|reconciliation]] (at a transactional or at a balance level) of the account, a process of review of the reconciliation and any pertinent supporting documentation and a formal [[certification]] (sign-off) of the account in a predetermined form driven by corporate policy.

Balance sheet substantiation is an important process that is typically carried out on a monthly, quarterly and year-end basis. The results help to drive the regulatory balance sheet reporting obligations of the organization.

Historically, balance sheet substantiation has been a wholly manual process, driven by [[spreadsheet]]s, [[email]] and manual monitoring and reporting. In recent years [[software]] solutions have been developed to bring a level of [[process automation]], [[standardization]] and enhanced control to the balance sheet substantiation or account certification process. These solutions are suitable for organizations with a high volume of accounts and/or personnel involved in the Balance Sheet Substantiation process and can be used to drive efficiencies, improve [[transparency (behavior)|transparency]] and help to reduce risk.

Balance sheet substantiation is a key control process in the [[SOX 404 top-down risk assessment]].