By Barbara Bragg
Each month, utilities balance end-of-month (EOM) statistic reports to the general ledger for all services. For some utilities, this can be a large task. Our goal was to lighten the load and automate the manual research part.
From this, the new EOM Balancing Tool (EOM BT or BT) emerged. The EOM BT pulls the statistical data by tarriff ID and compares it to corresponding general ledgers. When a difference is found, the outage amount is exported to Excel and formatted so that it may be used in the monthly spreadsheets. This format will seem familiar to some, since it was based on a worksheet used by our balancing group. The EOM BT tool is ready for use once the email from the stat team containing the stat reports has been received.
We strive to make the EOM BT user-friendly. The process will be to choose the revenue month and year and select “Generate for the EOM” report. This may take a few minutes depending on size. Also, the report will be blank if the month chosen has not been completed or stats created.
Dawn Smith, CFO at the Electric Board of Guntersville said, “I have been using it ever since you installed it. It has worked great, and I do love it. That last stage will make it an excellent and time-saving tool.“ Kelley Fields, accounting manager at Humboldt Utilities, added, “We used the tool, and it went great! We’re actually able to look at more now than we look at with our manual version.”
The example report below shown in the latest edition of LINES Magazine shows how easy it is to see outages/differences. Miscellaneous charge types will display in italics when there is a different charge type using the same general ledger account as a rate. For an instance of this, please see the line item “Regular-SA” in the example report screenshot. Although the revenue shows on the stat side of the report, it was not in stats. This prevents some outages and investigations.
Coming Soon! The next phase of this project will look at finding the outages for the user. For example, Large Lighting and Power Sales is out over $3,000? The EOM BT will soon find that for you, making end-of-month balancing a snap!
Contact me if you have any questions:
Barbara Bragg, VP - Quality Control