Finance to close

Reconcile source-backed financial work before closing an entity period.

Step by step

Prepare billing Accountant

Accountant connects an invoice to eligible buyer order and dispatch allocations.
- Claims eligible delivered value
- Updates Invoices, Invoice lines, Sales allocations
Approve invoice Finance Manager

Finance Manager reviews the frozen document and approves eligible billing.
- Approves the frozen billing scope
- Updates Invoices, Approval decisions
ApprovalA person approves before the work moves on.
Record cash Accountant

Accountant records actual receipt and allocates available cash to the open invoice.
- Applies confirmed customer funds
- Updates Cash receipts, Cash applications
Match supplier bills Accountant

Accountant matches a bill to unused accepted receipt quantity.
- Claims accepted supply once
- Updates Bills, Bill matches, Receipt acceptances
Reconcile Accountant

Accountant checks bank, receivables, payables, inventory and work-in-progress evidence at the cutoff.
- Records current source evidence
- Updates Close tasks, Journal entries, Bank statement lines
Approve close Finance Manager

Finance Manager reviews open exceptions and approves the accounting period close.
- Closes the reviewed entity period
- Updates Accounting periods, Approval decisions
ApprovalA person approves before the work moves on.

Start free, then use Proto to change fields, steps and approvals before your team goes live.