Record to report

Step by step

1. Open Controller

   Controller opens the entity’s period and activates close tasks from the captured checklist version. Authorized reversing entries retain their original links and execute once in the intended valid period. Dependencies and owners remain part of the close basis.

   • Activate the controlled period and checklist
   • Updates Accounting periods, Close templates, Close dependencies

2. Cut off the subledgers Finance Clerk

   Finance Clerk coordinates the financial cutoff with Payroll Administrator and Production Planner evidence. Remaining invoices, bills, stock effects, payroll and asset-book charges are reconciled by their actual state. Parallel payroll and opening history do not become new live postings.

   • Establish the reconciled cutoff population
   • Updates Bills, Stock movements, Depreciation runs, Payroll runs, Close tasks

3. Reconcile Finance Clerk

   Finance Clerk matches confirmed receipts and settlements to the bank statement and explains unresolved lines. Inventory, WIP and open items reconcile to their control accounts; partner balances reconcile by entity pair. Cash Forecast moves obligations from bills to instructions without counting both.

   • Explain control and bank differences
   • Updates Bank statement lines, Inventory, Journal entry lines, Close tasks

4. Adjust Controller

   Controller reviews and posts eligible balanced adjustments through the applicable authority. Soft close permits only its authorized adjustment scope. Revaluation preserves open-item carrying values, rates and linked reversal/rerun evidence; asset book and tax depreciation remain distinct.

   • Post authorized adjustments and valuation
   • Updates Journal entries, Revaluation lines, Allocation runs, Asset books
   Approvalwhen required

5. Review and file tax Controller

   Controller reviews finalized tax for its jurisdiction and reporting scope. Additive tax, withholding, recoverable input tax and employer payroll taxes remain separate from other contributions. Actual filing confirmation and later payment use their own evidence and valid posting periods.

   • Approve the filing and retain its evidence
   • Updates Tax filings, Journal entries
   ApprovalA person approves before the work moves on.

6. Sign off Controller

   Controller reviews reconciliations, the approved budget comparison and every required task dependency and exception before hard close. A mutable completed-task count cannot establish readiness. Hard close locks new posting into the period while retaining its originally reviewed ledger revision.

   • Lock the approved entity period
   • Updates Accounting periods, Close tasks, Approvals
   ApprovalA person approves before the work moves on.

7. Consolidate Controller

   Controller maps the reporting period to each included entity’s locked source periods and freezes ownership, method and rate evidence. Account-specific translation, partner-level elimination, investment and noncontrolling-interest workings remain reviewable. Full, Proportional and Equity methods retain their separate treatment before the run is locked.

   • Lock reviewed translation and eliminations
   • Updates Consolidation runs, Consolidation entities, Consolidation adjustments
   ApprovalA person approves before the work moves on.

8. Report Controller

   Controller produces the entity and consolidated pack from the selected posted or locked basis. Trial Balance, Balance Sheet, Profit and Loss by Entity and Cash Flow Statement retain their currencies and populations, with Aged Receivables and Payables and Inventory Valuation as supporting schedules.

   • Produce the identified reporting basis
   • Updates Consolidation runs, Budgets, Journal entries

Controller

Owns close, tax and reporting decisions.

Finance Clerk

Prepares reconciliations.

Payroll Administrator

Supplies payroll evidence.

Production Planner

Reconciles operational quantities and WIP.

Admin

Maintains governed checklist configuration.