Month-end close requires a bookkeeper to manually reconcile bank and credit card feeds, review balance sheets, and coordinate close documentation for each client. Manual reconciliation is time-consuming and error-prone, with bottlenecks in transaction matching and account verification.
Automation handles transaction reconciliation, balance sheet validation, and close checklist updates without manual intervention. The bookkeeper receives a verified close summary and exception report, reducing cycle time from 3-5 days to 1 day.
The full workflow, from trigger to completion.
On the last business day of the month, the automation checks the accounting software for a complete transaction set and initiates the close workflow for each active client.
The automation retrieves all bank and credit card transactions from the accounting software and checks that feeds are complete through the last business day.
The automation compares cleared transactions to ledger entries, identifies unmatched items, and flags discrepancies for review. It generates a reconciliation summary for each account.
The automation pulls the balance sheet, checks for unusual balances, and compares key accounts to prior month. It flags accounts outside normal ranges for human review.
The automation updates the close checklist, marking reconciliation and balance sheet review as complete and adding timestamps.
The automation creates a close summary email with the balance sheet, trial balance, and checklist status, then sends it to the client and internal team.
The automation sends a message to the accounting team confirming the close is complete, listing any flagged items, and providing a link to the close checklist.
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