Accounting checks and period-end close system
The accountant checks data transferred from documents and conflicting records. Preparing monthly or yearly reports shows which differences have been clarified and what checks are still needed.
Document data is classified and transferred to accounting systems manually, and exceptions do not have a single management workflow. The cost of errors and corrections increases, and the time of specialists is used not for analysis but for data administration.
How the solution works
- Obtain a document and determine which accounting period it belongs to
- Extracting data and checking the registration offer
- Transfer to accounting and get record result
- Agree operations, balances and explain the difference
- Perform the applicable review and close the period properly
Key challenges
- Accounting operations and document details are handwritten
- Reconciliations and period accounting completion are managed in a fragmented manner
Solution capabilities
Document processing
The value obtained from the document can be accessed by opening its location in the original. Duplicate is checked against the document and transaction data as file names may vary.
Registration rule
The client's billing plan, period and tax assessment are applied according to a specific rule; an uncertain case is referred to a specialist.
Reliable transmission
The accounting system returns the record identifier or error. Interrupted response does not cause a blind re-entry.
Reconciliation
The balance of the source operation and accounting is compared in the same volume and time. The difference has a cause, a responsible action and a true correction response.
Accounting Period Verification and Corrections
Before the month or year is completed, the remaining discrepancies and missing documents are checked. Later, the resulting document or correction is assigned by the accountant to the proper period, preserving the history of the changes made.
Business context
- Accounting operations and document details are handwritten
- Document data is classified and transferred to accounting systems manually, and exceptions do not have a single management workflow. The cost of errors and corrections increases, and the time of specialists is used not for analysis but for data administration.
- Reconciliations and period accounting completion are managed in a fragmented manner
- Reconciliations between accounts, banks, debts, taxes and other areas are tracked in separate tables and staff notes. It is not clear which tasks are yet completed and significant deviations are noticed too late.
- The client receives the explained accounting data in a timely manner
- It is important for the company's manager to know if the monthly data has already been verified and what else may change. Visible flaws in the documents and checks help the accountant to answer specifically. A more reliable course of preparation facilitates the client's decisions and coordination of terms of service.
Core features
- Document processing
- Registration rule
- Reliable transmission
- Reconciliation
- Accounting Period Verification and Corrections
Key integrations
- Documents and bank sources
- Original document, associated operation and its accounting period.
- Client accounting system
- Recorded record, balance, correction and period state.
Potential impact (%)
The ranges indicate an illustrative relative change in the metric under the stated assumptions. Results depend on the starting position and actual use of the solution. Percentages for different metrics must not be added together.
Registration exception handling work
12–36%Decreasing
This illustrative scenario assumes that 30-60% of manual data entry and handover work can be addressed. That share is assumed to fall by 40-60%. Company data is needed to verify both the addressable workload and the resulting change.
Measure employee minutes to solve a comparable type of exception, incorporating subsequent correction.
Uncompleted reconciliation differences
5–25%Decreasing
This illustrative scenario assumes that 20-50% of missed actions can be identified through task and deadline tracking. That share is assumed to fall by 25-50%. Company data is needed to verify both the addressable share and the resulting change.
Calculate the outstanding differences remaining during the month or year accounting check against agreed verification criteria.
Conditional calculation scenarios. The assumptions have not been validated against client measurements.
When this solution is relevant
- Accounting operations are moved between systems manually.
- The monthly reports make it difficult to explain inconsistencies and track pending checks.
Project scope and implementation
The project is designed to verify accounting operations and complete the accounting period. If a company provides only independent auditing, the client's accounting management is not included in its workflow. Check results and corrections are associated with the responsible accounting system.
Further development options
- Other transaction flows following their rules, exceptions and accounting transfer checks.