5/11/2023 0 Comments Top process monitor lgogoWith the more repetitive tasks out of the way, users are able to focus on more high-risk reconciliations. ![]() ![]() This automation helps reduce manual work and allows for a more accurate close. The close is necessary to prepare these accounts for the next period's transactions.įinancial close software provides a more standardized and organized automation of the processes that controllers and accountants are responsible for at month-end close. “Financial close” is an accounting term used to describe the process of zeroing out the balance in nominal accounts, such as revenues and expenses, and updating the Retained Earnings account in the ledger to equal the end-of-period balance. Communications Platform as a Service (CPaaS)įinancial close software, or accounting close software, provides ways to streamline the financial close cycle.Integration Platform as a Service (iPaaS). ![]()
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