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The Close

Closing the books: accruals in, accounts reconciled, period signed off.

The Close covers finishing the books at the end of each month and quarter. You may know it as record-to-report (R2R) or the financial close.

The Close use cases

Do nowFix firstEasy addsLaterEase →Impact →1. Bank reconciliation auto-matching12. Accrual estimate suggestion23. Intercompany reconciliation and mismatch triage34. Journal entry anomaly detection45. Close task tracking with dependency alerts56. Variance commentary writing67. Balance sheet reconciliation preparation78. Close evidence pack assembly89. Close sign-off readiness check910. Prepaid amortization schedules10
Impact (up) by Ease (right). Positions come from the weighted breakdown below; dots sharing a spot are fanned out.
  1. 1

    Bank reconciliation auto-matching

    • Impact:High
    • Ease:High
  2. 2

    Accrual estimate suggestion

    • Impact:High
    • Ease:Medium
  3. 3

    Intercompany reconciliation and mismatch triage

    • Impact:High
    • Ease:Medium
  4. 4

    Journal entry anomaly detection

    • Impact:High
    • Ease:Medium
  5. 5

    Close task tracking with dependency alerts

    • Impact:Medium
    • Ease:High
  6. 6

    Variance commentary writing

    • Impact:Medium
    • Ease:High
  7. 7

    Balance sheet reconciliation preparation

    • Impact:Medium
    • Ease:Medium
  8. 8

    Close evidence pack assembly

    • Impact:Medium
    • Ease:Medium
  9. 9

    Close sign-off readiness check

    • Impact:Medium
    • Ease:Medium
  10. 10

    Prepaid amortization schedules

    • Impact:Low
    • Ease:High