How does the “Maintenance Plan” affect accounts in OneStream?

The "Maintenance Plan" in OneStream is key to ensuring that the chart of accounts remains relevant and compliant with both regulatory requirements and internal standards. By implementing a routine for periodic reviews, organizations can assess each account's applicability, accuracy, and alignment with current business processes and market conditions. This practice prevents the use of outdated or redundant accounts that could lead to inaccuracies in financial reporting.

Regular maintenance also helps to identify any needed adjustments or updates, contributing to streamlined financial operations. By ensuring that the accounts are consistently evaluated and necessary modifications are made, the organization can stay compliant with accounting standards and avoid potential financial discrepancies. Thus, the focus on periodic reviews embedded in the Maintenance Plan is fundamental for maintaining the integrity and usability of the chart of accounts.