Finance to close

Step by step

1. Prepare billing Accountant

   Retain eligible source lines, currency and period. Accountant owns the handoff.

   • Retain eligible source lines, currency and period.
   • Updates Invoices, Bills

2. Approve invoice Finance Manager

   Review quantity, value, tax and posting basis. Finance Manager owns the handoff.

   • Review quantity, value, tax and posting basis.
   • Updates Invoices, Approval decisions
   ApprovalA person approves before the work moves on.

3. Allocate and pay Accountant

   Apply confirmed cash and release supplier payment. Accountant, Finance Manager owns the handoff.

   • Apply confirmed cash and release supplier payment.
   • Updates Cash applications, Payment runs, Payments

4. Reconcile Accountant

   Compare external evidence with source balances. Accountant owns the handoff.

   • Compare external evidence with source balances.
   • Updates Bank statement lines, Close tasks

5. Close period Finance Manager

   Review revaluation and approve period close. Finance Manager owns the handoff.

   • Review revaluation and approve period close.
   • Updates Revaluation runs, Accounting periods, Approval decisions
   ApprovalA person approves before the work moves on.

Accountant

, Finance Manager.

Each person works within their entity and warehouse scope.