The CloseYou may know it as the financial close
Balance sheet reconciliation preparation
Prepare roll-forwards and gather support for balance sheet reconciliations from sub-ledgers and prior periods, flagging unexplained differences for the preparer.
What to expect: ideas for what could change, what you need first, and how to test whether it helps. Nothing here is a measured result.
- Impact: Medium
- Ease: Medium
- Prep: Some
Indicative rating based on the workflow described. Your readiness and implementation effort may differ.
Evidence status: Editorial / indicative assessment
What it does
This step still relies on manual effort, which holds back: Reconciliations completed on time; Aged reconciling items.
Who does what
AI prepares the work and suggests the answer. A person decides each one.
What it could move, and how you would check
Of the five measures below, this use case may help three. These are expected effects to test against your own baseline, not measured results. The last column says how to check each one.
| Fact | Expected effect | Why |
|---|---|---|
| Process steps | Not directly addressed | This use case does not directly change the number of steps. |
| Cycle time | Possible downstream benefit | Work may wait less between tasks, so items can finish sooner. |
| Exception loops | Possible downstream benefit | Fewer items may go back for rework. |
| First-time-right rate | Potential direct benefit | More items may be right the first time, with no one fixing or chasing them. |
| Cost per invoice | Not directly addressed | This use case does not directly change the cost of each item. |
What you need first
This is an illustrative improvement approach, not a final solution design. The workflow, level of automation, integrations, and review requirements will depend on your existing tools, available capabilities, data quality, company policies, and team needs. Confirm these during discovery and a controlled pilot before implementation.
Ease of getting started: Medium. The tools exist. Some of the setup work is yours.
- Account ownership assigned
- Reconciliation templates by account type
- Preparer and reviewer sign-off on every reconciliation
- Risk rating per account sets review frequency
Evidence to keep
- Reconciliations with sign-offs
- Log of unexplained differences
What can go wrong, and how a pilot would show it
- Support gathered but not reviewed
- Unexplained differences accepted
Your next step
Assign an owner and a risk rating to every balance sheet account. Standardize reconciliation templates by account type.
The pilot steps are under "See how to test it" in the Ways to start panel. Paid support is optional: use Get implementation support if you want help.