Record to Report (R2R)
What is this?
Record-to-Report (R2R) is the financial process of recording, processing, and reporting all business transactions.
Why it exists?
Organizations need:
- Accurate financial records
- Compliance with regulations
- Financial reporting
Core Function
R2R collects and processes financial data and produces reports like balance sheets and profit & loss statements. :contentReference[oaicite:1]{index=1}
High-Level Flow
- Record transactions
- Process and validate
- Close accounts
- Generate reports
Key Activities
- Journal entries
- Ledger postings
- Period-end closing
- Financial reporting
R2R ensures all transactions are accurately recorded and consolidated. :contentReference[oaicite:2]{index=2}
Business Objects
Key Takeaway
R2R is: → Financial truth layer
If this is wrong:
→ Reports lie
→ Audit fails