Blockchain Gap: Posting Process

We’ve discussed the blockchain gaps of liquidity management, double entry accounting, and reporting integration.  This week’s episode discusses posting processes. The purpose of posting processes is almost forgotten in today’s world of ubiquitous computing.  But they are still used in nearly every major business process–every ledger–to state a position as of a point in time. All analytical processes begin with a balance, with a position. … Continue reading Blockchain Gap: Posting Process

Consider the Punch Card

Today’s banking and financial systems were by and large automated in the 1970s and early 1980; the process began in the late 1950 and through the 1960s.  I find it helpful to reduce the problem of what the systems do down to the most basic elements in considering the financial patterns involved. And what might be the most basic element?  In many respects, to state … Continue reading Consider the Punch Card