Workflow
Month-end close acceleration
Doing the reconciliation work through the month so the close is a review rather than a rebuild.
Part of Accounting
The problem
The close is compressed into the days when the finance team has least time, and it consists largely of work that could have been done earlier: reconciling accounts, chasing unmatched items, agreeing intercompany balances, preparing accruals. Because it is all attempted at once, differences get written off to suspense to make the deadline, and the suspense account becomes the thing the auditors ask about.
How VapusFin handles it
- 01
Bank, sub-ledger, intercompany and tax account reconciliation run continuously as transactions arrive, rather than in a period-end batch.
- 02
Intercompany transactions are matched and eliminated as they occur, with residual differences attributed to a side rather than netted away.
- 03
Recurring journals, prepayments and accruals are prepared on schedule with their calculation attached, ready to review rather than to build.
- 04
At period end what remains is the exceptions that genuinely need judgement, plus the review and sign-off.
Describe the workflow that costs you most
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