Two-way Correlation Analysis is a tool for reviewing the journal entries of two accounts that are expected to have predictable relationships. For example, if an activity, such as sales, correlates with accounts receivable, you can use 2-way Correlation to verify that sales journals booked through account receivable.
Two-way Correlation presents summaries of the journal entries in three worksheets:
• Correlation Analysis: The correlation of the two accounts, including a table with the summary data and a graph that shows the correlation. A link to the Correlation Quality: Helps you filter out unwanted entries and focus on entries of interest
• Remaining Activity: Activity in the primary account that does not correlate to the secondary account.
• Correlation Summary: For the primary account, this summarizes by month the activity from the secondary and other accounts, to support reconciliation and the overall assessment of the
correlation of the two accounts."