Creating an Efficient Month-End Close

Financial reporting relies heavily on accounting, and confirming & reconciling the previous month’s financials is crucial to understanding all aspects of what’s going on with your business. Regardless of how seasoned a finance team may be, many companies regularly experience difficulties closing out the books. The panel of experts will breakdown the month-end close process, as well as tips for efficiencies that you can implement in order to create a seamless, timely, and process-driven month-end close.

Month-end close efficiencies

Your team is not alone! Companies of all shapes and sizes face pain points during month-end close.

  • In early stage companies, there often isn’t a finance department, and founders and early executives aren’t necessarily sharp on the intricacies of closing out the books each month.
  • At small companies, the finance department may be a team of one- meaning that time is precious, and streamlined processes are needed to keep the ball rolling.
  • For larger companies, there’s often a struggle to understand what has been spent each month, and that lack of transparency rolls over into next month as teams try to reconcile the books.

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