AI workflows for month-end close.

Closing the books each period: the checklist, accruals, journal entries and the financial statements that come out of it.

Who does this work

  • Controller
  • General ledger accountant
  • Financial reporting accountant

2 workflow templates ready to adapt, and 5 workflows identified.

Updated

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Examples of the workflows identified
  1. Prepare and track the month-end close checklist
  2. Prepare journal entries with their support
  3. Draft the financial statements from the trial balanceIllustrative
  4. Prepare month-end accrualsIllustrative
  5. Prepare the subscription revenue close packetIllustrative

The workflows identified

Marked illustrative: an example of the work, identified, with no workflow template yet.

Prepare and track the month-end close checklistGives the controller a dated close checklist with owners and dependencies, and during the close the tasks that are blocked and the support still missing.Workflow templatePrepare journal entries with their supportGives the reviewer and approver draft journal entries, each with its support, calculation and questions, ready for sign-off.Workflow template
Draft the financial statements from the trial balanceGives the reviewer draft income statement, balance sheet and cash flow with account mappings and unresolved differences.Illustrative · not built yet
Prepare month-end accrualsGives the accountant an accrual schedule of work received but not yet billed, what is already booked and draft entries.Illustrative · not built yet
Prepare the subscription revenue close packetGives the controller a revenue roll-forward using approved treatments, with contract changes and missing inputs identified.Illustrative · not built yet

Workflow templates

Journal entry preparationAt month end, your bookkeeper hands the controller every proposed journal entry ready to review: balanced lines on accounts from your own chart, the arithmetic and the document behind each amount, whether it reverses, and who approves it. Nothing is posted until a person approves.Workflow templateMonth-end close checklistBefore the month ends, your controller holds the whole close on one page: every task with its owner, its date and what it waits on, the chain that sets the close date, and each gap already written as a question. Entries are prepared for approval, never posted.Workflow template

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Where to go next

All of accountingThe broader area this belongs to, with its workflows.All of finance and accountingEvery area of the function, with workflow templates and examples.Map your team in the PlannerPut this work in your plan, with the roles that do it.

Also within accounting

  • Account reconciliations
  • Cost accounting

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