The month-end closing process is an important part of producing timely and accurate financial statements.
Most CFOs find themselves caught up with closing the books and have little or no time for other important tasks.
Accounting documentation should be linked to the original transaction, without having to search for the status of a purchase invoice or other accounting documents.
The amount of time used to close the monthly statements depends on the quality of recording and processing each transaction.
The state of standardisation and automatisation reflect the time spent on the monthly close. Ideally, daily routines should be as automated as possible and should reflect all accounting information.
Visma.net ERP significantly cuts down the time it takes to complete month-end closing.
Visma.net Autopay automatically runs in the background, sending and receiving payments. All you are left to do is handle vendor invoices deviations from unmatched transactions.
Sending out customer/supplier statements is a monthly activity that can be scheduled to run automatically. Fixed assets can be created directly from the purchase invoice and set into appropriate deprivation schedule monthly, quarterly etc.
Accrual and a deferred transaction can be set to run on a schedule every day, month or quarter for minimising the manual entry of transactions and for better control.
Visma.net ERP offers standard functions and features that removes tedious manual work from your month-end closing.