Up to now, the only version of the truth is the information reporting for intraday transactions, e.g. the current day processes. Intraday reporting helps to build an accurate cash position) that allows cash managers and treasurers to make good decisions based the surplus or deficit cash position each day. However, the cash position is not what's recorded into the general ledger and reported in documents such as the ACFR. For this, the ledger balance and it's related transactions are the version of the truth that need to be reconciled and uploaded into an accounting system, the system of record.
Ledger versus Available
Automation versus Manual
TL;DR
Last major update: March 2024
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