Rely Services helps finance leaders modernize their Record to Report (R2R) operations by combining deep accounting expertise with intelligent automation. Our end-to-end R2R services bring structure, transparency, and speed to your financial close so your leadership team can rely on accurate numbers, delivered on time, every time.
We operate as an extension of your finance function, managing complex accounting processes while ensuring audit readiness, regulatory compliance, and real-time financial visibility.
What Is Record to Report (R2R)?
Record to Report is the core finance process responsible for capturing, validating, and reporting financial transactions. It transforms raw accounting data into accurate financial statements, management reports, and regulatory filings.
A robust Record to Report framework ensures that journals are posted correctly, accounts are reconciled, assets are accounted for accurately, and financial closes happen on schedule. When R2R breaks down, organizations face delayed closes, inconsistent reporting, audit risks, and leadership decisions based on incomplete data.
Rely Services helps organizations turn Record to Report into a structured, predictable, and insight-driven process.
Record to Report Process Flow
Record to Report (R2R) Process Flow
A well-structured Record to Report process ensures your financial data moves from raw transactions to reliable insights without delays, discrepancies, or compliance risk. Here’s how Rely Services manages each step with clarity and control:
1. Transaction Recording & Journal Entries
Every financial activity begins here. We accurately record all business transactions through standard, recurring, and adjustment journal entries. Clear cutoff controls and validations ensure entries are posted to the correct period setting a clean foundation for the entire R2R cycle.
2. Sub-ledger & General Ledger Validation
Before numbers roll up, we validate them. Sub-ledgers (AP, AR, Fixed Assets) are systematically reviewed and matched With the General Ledger to ensure consistency. This step eliminates downstream surprises and strengthens data integrity early in the process.
3. Account Reconciliations
Reconciliations are where accuracy is proven. We reconcile bank accounts, balance sheet accounts, and control accounts, identifying and resolving variances quickly. Exception-driven workflows ensure nothing slips through unnoticed keeping your books audit-ready.
4. Fixed Asset Accounting
Assets require precision across their lifecycle. We manage capitalization, depreciation, transfers, and disposals while maintaining an accurate fixed asset register. This ensures compliance, accurate expense recognition, and better capital planning.
5. Intercompany Accounting
For multi-entity organizations, intercompany transactions can slow the close. We record, reconcile, and eliminate intercompany balances systematically ensuring entities align and group-level reporting remains clean and accurate.
6. Period-End Close Support
This is where everything comes together. We support month-end, quarter-end, and year-end close activities through structured calendars, checklists, and ownership models. The result: faster closes with fewer last-minute escalations.
7. Financial Reporting & Analysis
Once the numbers are finalized, we turn data into insight. We support the preparation of financial statements, management reports, and variance analysis helping leadership understand performance, trends, and risks with confidence.
The Challenge: Why Record to Report Becomes a Bottleneck
Many organizations struggle to maintain consistency and control across their Record to Report processes. Common challenges include:
- Manual journal entries increasing the risk of posting errors
- Time-consuming reconciliations delaying month-end close
- Inconsistent fixed asset tracking and depreciation errors
- Complex intercompany accounting creating reconciliation gaps
- Heavy dependency on spreadsheets and tribal knowledge
- Audit findings due to missing documentation or weak controls
These issues slow down finance teams and erode trust in reported numbers.
Contact Rely Services today for a no-cost evaluation of your opportunities with EMR and BPO!
Comprehensive Record to Report Service Offerings
Rely Services delivers structured, scalable Record to Report services designed to support finance accuracy and leadership confidence.
Journal Entries & General Ledger Management
We ensure accurate and timely recording of all financial transactions.
- Standard and recurring journal entries
- Accruals, provisions, and adjustments
- Posting validation and error checks
- Period-based cutoff controls
This forms the foundation of a reliable Record to Report process.
Reconciliations & Balance Sheet Integrity
We safeguard financial accuracy through disciplined reconciliation.
- Bank reconciliations
- Balance sheet account reconciliations
- Sub-ledger to general ledger matching
- Aging reviews and exception resolution
Our reconciliation framework strengthens internal controls and audit readiness.
Intercompan Accounting
We simplify complex multi-entity accounting environments.
- Intercompany transaction recording
- Cross-entity reconciliations
- Elimination entries
- Settlement tracking and reporting
This reduces close delays and ensures group-level financial accuracy.
Fixed Asset Accounting
We manage the full lifecycle of fixed assets with precision.
- Asset capitalization and tagging
- Depreciation calculations
- Asset transfers, retirements, and disposals
- Fixed asset register maintenance
Accurate asset accounting ensures compliance and improves capital planning.
Close Support Activities
We act as a dedicated close partner for your finance team.
- Month-end, quarter-end, and year-end close support
- Close calendars and checklist management
- Variance analysis and commentary support
- Audit preparation and coordination
Our structured close support accelerates timelines without sacrificing accuracy.
The Rely Services Advantage
- Faster, Predictable Financial Close: Our standardized Record to Report workflows reduce close cycles and eliminate last-minute firefighting.
- Stronger Compliance & Audit Readiness: Every activity is documented, traceable, and aligned with accounting standards – supporting internal and external audits.
- Improved Financial Visibility: We deliver clean, reconciled data that enables leadership to trust financial statements and management reports.
- Scalable Delivery Model: As transaction volumes and entities grow, our Record to Report services scale seamlessly – without adding internal headcount.
AI & Automation in Record to Report
Rely Services embeds automation and AI across the Record to Report lifecycle to reduce manual effort and risk:
- Automated journal posting and validation
- Exception-based reconciliation workflows
- Rule-driven close task management
- Intelligent variance identification
This approach minimizes human error while accelerating financial reporting cycles.
Technology Stack & ERP Compatibility
Our Record to Report services integrate seamlessly with leading ERP platforms, including SAP, Oracle, NetSuite, and Microsoft Dynamics.
We also leverage Robotic Process Automation (RPA) to support:
- Automated reconciliations
- Standardized journal entries
- Close checklist tracking
Your systems remain unchanged – we enhance control and efficiency within your existing environment.
Why Choose Rely Services for Record to Report
- Deep accounting and financial close expertise
- Strong governance, controls, and documentation
- Flexible engagement models aligned to business complexity
- A partner-led approach focused on outcomes, not just tasks
We don’t just process numbers – we help finance leaders regain control of their close.
Take Control of Your Record to Report Process
If your finance team is burdened by manual reconciliations, delayed closes, or audit stress, it’s time to modernize your Record to Report operations.
Schedule a Record to Report Assessment with Rely Services and discover how a structured, automation-enabled R2R model can deliver faster closes, cleaner books, and confidence in every financial report.
