Basic understanding of Record to Report (RTR)/(R2R) process /Workflow to the commerce and Finance students

Basic understanding of Record to Report (RTR)/(R2R) process /Workflow to the commerce and Finance students

Hello Friends today we are going to discuss about the Record To Report (RTR) process flow.

Record To Report is a finance and accounting management process, which involves collecting , processing , and delivering relevant , timely and accurate information used for providing strategic, financial and operational feedback to understand , how business is performing.

RTR process focusses on the delivering faster financial close for clients, meeting their compliance requirements and enhancing faster business decision making.

For the basic understanding we will discuss about the main areas of RTR process, we will use following things in the RTR process during working in month ends and in non-month ends and basic understanding of accounting and ERP is also required in RTR process.

-Basic understanding of the accounting principles and concepts is required during the working in an accounting cycle/period.

-in RTR we will work on general accounting, journal entries, reconciliation and its process flows and general ledger concepts,

-understanding of ERP like SAP, ORACLE is required to work in the RTR process,

-before close we have to understand close process and planning for the close.

-we need to take care of the SLA, KPI, and other metrix indicators.

--Accounting -Reconciliation-Journals-close are very imporatant terms of RTR Process--