Do you run month-end close from a shared checklist with owners and due dates?

A close checklist (in FloQast, Numeric or even Planner or Asana) shows who owns each step and what is late, so nobody has to ask.

How to automate it

How to automate “get through the month-end close crunch”

Here are 2 ways to spend less time on this, best first. Each comes with steps you can follow today.

480 min

typically, once a month

40%

of the time can be automated

A small project

to set up

Fix 1 of 2

Software featureBest fix

Run the close from a shared checklist with owners and due dates

A close checklist shows who owns each step, what is late and what is ready for review, so the controller stops asking.

Typically saves about 25% of the time2 h to set up

1Write every close task with an owner, a reviewer and a due day (e.g. Day 3).
2Put it in FloQast, Numeric or BlackLine, or a shared Planner, Asana or Smartsheet template.
3Attach the support to each task so review and audit use the same place.
4After each close, note what slipped and fix one thing next month.

Tools: FloQast · Numeric · BlackLine · Microsoft Planner, Asana or Smartsheet

Fix 2 of 2

Process fix

Set hard cut-offs and accrue instead of waiting

Most close delays come from waiting on late invoices and inputs. Clear cut-off dates and a materiality threshold let you book estimates and move on.

Typically saves about 20% of the time1 h to set up

1Publish a close calendar: cut-off for invoices, expenses and payroll inputs.
2Agree a materiality threshold below which you accrue an estimate rather than wait.
3Move work out of close week: reconcile bank and cards weekly.
4Hold a 20-minute review after each close to remove one bottleneck.

Tools: Shared calendar · Close checklist

Quick wins

Have you tried…

Do you run month-end close from a shared checklist with owners and due dates?: A close checklist (in FloQast, Numeric or even Planner or Asana) shows who owns each step and what is late, so nobody has to ask.

Who does this task

Roles in our library that list this as one of their common tasks. Each guide covers the rest of that role’s week.

AP / AR specialist Staff accountant Controller / accounting manager Payroll specialist CFO / finance manager

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