Improve your Month End Close

  • Gain Better Reporting & Visibility
  • Make your Finance Team more Efficient
  • Reduce Close Time

74% of mid-sized organisations take over a week and between two and five staff members to coordinate their month end close

So, why is this happening?

Not Enough Automation

Manually entering accruals and revenue recognition journals, reconciling the bank, and catching up on invoicing are all labour-intensive and time-consuming activities.

No Real-Time Data

The big push at the end of the month all culminates in getting an accurate view of your financial position but by the time it's produced, it's out of date.

Lack of Process

Month-end close often involves many systems being reconciled and consolidated. This can be a messy and complex operation that adds more time and pressure to the finance team.

Complex Excel Spreadsheets

Compiling multiple spreadsheets full of formulas and look-ups in order to create a consolidated view of company finances is a time-consuming process, prone to human error.

How to reduce your month-end close time

Watch our Financial Transformation Live session where Hannah Munro explores typical month-end bottlenecks, shares top tips for reducing your month-end close time and talks about how you can start thinking about shifting to a continuous close.

Content referenced in the session:

Webinar: Shift to a continuous close with Sage Intacct
Close the books survey

Does your Month End Close Make the Grade?

Closing the books is one of the most time consuming and stressful processes for most financial teams.
A recent 'Close the Books' survey aimed to find out what is working for businesses in terms of month-end close, what is not working, and what the future holds when it comes to closing.

Some Interesting Findings:

  • Those who spent more than 20 hours consolidating had a close process of 30% longer than those who spent 10 hours or less
  • Those who do more than 75% of their journal entries manually had a close time of 33% more on average than those who don't
  • Investigating anomalies and manual effort were the biggest contributors to a longer month end close
  • Those with 11 or more legal entities took 70% more time to close their books

Download the infographic to learn how your close compares against other businesses and grade your close with a 'Close the Books' report card. alternatively, watch our on-demand webinar to find out how your month end close performs against your peers.

Download Infographic

Free Template

Ready to dissect your month-end close?

Identify the bottlenecks slowing down your month-end close with our free month-end timeline mapping template! Download our free template to help you understand what areas are holding you back and the improvements you can make to speed up your month-end process.

Want to learn how you can shift to a continuous close?

On-Demand Webinar: Shift to a continuous close with Sage Intacct

Join us as we explore how Sage Intacct can help you move away from a clunky, long month-end process to a continuous close. We will show you how with Sage Intacct you can speed up your close time by 79% so you can get your life back!

"Sage Intacct helped us cut our monthly close in half, allowing me to free up 50% of my time from day-to-day accounting tasks for more forward-looking business analytics, improving cash forecasting, and increasing budget accuracy by 10%."
John Kalinowski, Alder Partners LLC

Improve your Month End Close with Sage Intacct

Sage Intacct is Sage's new flagship accounting solution. Built on the Cloud, Sage Intacct offers powerful real-time reporting, an out of the box integration with Salesforce, and multi-dimensional accounting. Sage Intacct helps customers improve their close process and reduce their consolidation time, enabling businesses to gain visibility across a variety of dimensions and allowing businesses to scale easily.

Explore Sage Intacct's Month End Process