The SCO Extension takes all the hard work you put into your year-end and automatically reconfigures the data for the SCO.
What you get:
All the groupings necessary to automatically calculate numeric data
Input forms to populate any non-numeric data
Leadsheets that fully support how you arrived at each balance
Ability to post adjusting journal entries to update SCO balances
Workiva connected spreadsheets that duplicate the SCO format
What you do:
On year of implementation, you assign the SCO groups to your accounts. Every year thereafter, just group your new accounts
Create adjusting journal entries for any reclassifications required by the State Controllers Office
The Result:
You have a line-by-line guide to performing your SCO data entry, which is connected to and reconciles with your annual comprehensive financial report, saving time and reducing the risk of error.
