Common Pitfalls During the Month-End Close

Answer: 

Lack of a dedicated automation solution during month-end close introduces a variety of problems for the accounting team, including:

• No transparency into close status
• Last minute surprises and material adjustments to the financials
• No time to finish all reconciliation prior to closing the books
• Plethora of Excel spreadsheets stored in various locations that are not easily accessible.
• More time dedicated to the audit process in communication, document retrieval and evidencing internal control execution.