This measure calculates the percentage of journal entry line items processed error free the first time. A journal entry line item is a single transaction line in a journal entry. For example, when a journal entry is used to record a receipt of cash, the debit to cash and the credit to accounts receivable are each separate line items. This measure is part of a set of Process Efficiency measures that help companies optimize their "perform general accounting" process by minimizing waste and refining resource consumption.
Percentage of journal entry line items processed error free the first time
Process efficiency represents how well a process converts its inputs into outputs. A process that converts 100% of the inputs into outputs without waste is more efficient than one that converts a similar amount of inputs into fewer outputs.
The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.