Close

While the month end close process is performed in every organization, its specifics vary greatly depending on the company size, industry and internal processes. That is why our Close Edition is designed for maximum flexibility and can cover various needs and requirements. 

A common use case for Close Edition is the combination of Task Management and Balance sheet Reconciliation and Certification. The Task Management functionality brings a comprehensive financial close checklist, real time progress tracking with preset roles, different calendars to fit the variations of month-end, quarter-end and year-end closing as well as a single close notes repository. 

Certification is а core module that we also offer as a stand-alone Edition that is dedicated to the substantiation of account balances and overall demonstration of accountability in the organization. More detailed information about the Certification edition is available in Certify section.

Close Edition also offers the option for Variance Analysis functionality where multiple accounts from either the balance sheet or income statement can be analyzed in any period-to-period or budget vs actuals format. This analysis is supported with automated system rules reducing significantly the effort that has to be performed by F&A teams. It is further supported with multi-level approval workflows and easy grouping of accounts for better process organization and work allocation. Another option of the Close Management Edition is the enhanced control functionality of Journal entries, where multi-level approval workflows can be used and documented. The output is a system file ready for GL entry. Whether you are looking to automate your financial close process to save time and effort, or you are aiming to establish a streamlined close independent from messy spreadsheets, or you simply want to enhance your compliance and audit readiness to satisfy growing regulatory requirements, ReconArt can help you achieve these goals. Our financial close software is fully configurable to work in any business context, with various data sources, all types of accounts, and flexible workflow requirements. From a small team of up to 10 people, to hundreds of users across different geographies, there is virtually no limit on the scope that ReconArt can support in your financial close management process.