What is the purpose of a “Calculated” account in OneStream?

A "Calculated" account in OneStream serves the specific function of deriving its value from other accounts through the use of defined formulas. This type of account is essential for financial reporting and analysis because it automates the process of calculating values based on existing data in the system. For instance, if an organization wants to aggregate revenues or determine net income, it can create a calculated account that uses formulas to gather and compute this information seamlessly.

The capability to create calculated accounts allows users to perform complex financial analysis without manually updating figures, which reduces the likelihood of errors and enhances efficiency. By leveraging the data stored in other accounts, these calculated accounts can adapt quickly to changes in underlying data, reflecting real-time results that are crucial for decision-making processes.

This functional aspect makes calculated accounts particularly valuable in financial modeling, budgeting, and forecasting. The automation and real-time updates help organizations stay on top of their financial performance, making it easier to assess actual versus budgeted figures and understand the implications of different financial scenarios.