AI-native accounting platform Digits on Thursday unveiled Digits Schedules, a new system that brings accrual accounting workflows into the ledger by automatically detecting, generating, and managing supporting schedules.
“Supporting schedules have long been a core part of accounting but have remained outside the system of record, relegated to spreadsheets and workpapers,” Digits said in a media release on May 7. “While the ledger captures transactions, schedules determine how those transactions are recognized over time, requiring accountants to identify what needs scheduling, recalculate balances, and manually create journal entries for each close cycle.
“Digits Schedules redefines that model: the ledger generates and manages schedules, bringing both the detection and execution of accrual workflows into the core system of record.”
Key capabilities of Digits Schedules include:
- Proactive detection: Digits identifies transactions that require accrual accounting and drafts proposed schedules automatically.
- Full accountant control: Every schedule surfaces with its proposed treatment. Accountants confirm, modify, or dismiss before anything hits the books.
- Automated journal entries: Once finalized, recurring journal entries are created and managed automatically for the life of the schedule.
- Native to the ledger: Schedules, supporting documents, and entries live directly in the general ledger, not in spreadsheets or add-on tools.
- Flexible creation: Schedules can also be created directly from any transaction or source document in seconds.
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When schedules live outside the ledger in spreadsheets, bolt-on tools, or loosely connected modules, reconciliation gaps are inevitable, Digits says, adding that its new system eliminates that fragmentation.
Every schedule traces from the source transaction through each posted journal entry to the balance sheet, creating a single, continuous system of record.
Digits Schedules turns transactions, documents, and context into automated, structured, and reviewable schedules, generated proactively by the ledger itself, the San Francisco-based company says.
“Supporting schedules are one of the most persistent workflows still living outside the ledger. Every firm we work with spends hours every month identifying transactions, rolling spreadsheets forward, recalculating balances, and hand-creating journal entries for work that’s almost entirely deterministic,” Jeff Seibert, CEO and founder of Digits, said in a statement. “Digits flips that model by having the ledger manage the schedules and handle the math so accountants can focus on the judgment and advisory work their clients actually value.”
Digits Schedules launches with support for fixed assets and prepaid expenses, with revenue recognition and accrued expenses coming soon. It’s now available for accounting firms on Digits for Firms plans.
More information about Digits Schedules can be found here.
Photo credit: Airborne Visuals
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