1. Develop a month-end closing checklist. Discuss this checklist with everyone involved in the closing process and clarify who is responsible for which task until when. Make sure everyone involved understands the tasks and is able to perform them on time. 2. Check which tasks can be done in advance of the month-end close to reduce time pressure in the closing period (e.g. standard recharges and accruals, booking of assets). 3. Check which tasks require a lot of manual work and think about options to speed up their processing (e.g. develop and use an upload file to your ERP system instead of manual bookings). 4. Get feedback from your auditor on how advanced your closing process is and if there is need for process improvement.

Don’t underestimate the impact policy can have on efficiency. Look to standardize and simplify policies that drive accounting overhead, such as: -employee payroll -customer & vendor payment terms -bank account schema -variable compensation agreements -PTO policy

Monthly closings can be time-consuming, but small changes can make a big impact. Form my past experience, we implemented automation tools for data entry and reconciliations, which cut down manual work significantly. We also standardized our closing checklist, making each step more consistent and efficient. By regularly reviewing the process, we could identify and address bottlenecks, ultimately reducing closing time and freeing up our team for more strategic tasks.

1. Create a Timeline with Clear Deadlines Develop a detailed schedule that outlines each step in the closing process, along with specific deadlines. This ensures timely completion and reduces last-minute bottlenecks. 2. Define Roles and Responsibilities Clearly assign tasks to each team member involved in the closing process. Knowing who is responsible for what prevents overlap, confusion, and delays. 3. Roll Forward Closing Activities Carry forward as much of the preparatory work as possible from previous months. This approach minimizes the workload during the actual closing period. 4. Automate Repetitive Tasks Use technology to automate repetitive, time-consuming tasks such as reconciliations and report generation.

Since the closing procedure is a monthly activity with a consistent process, will aim to automate as much of it as possible to save significant time. Additionally, will review all relevant data one to two days in advance to minimize the risk of errors during the closing period. will also evaluate the current workflow and provide guidance on how to eliminate redundant tasks, further streamlining the process and enhancing efficiency

Decentralization of the decision process might be helpful. Furthermore, it should depend a lot on the real life challenge. Its more about making the right trade off.

I streamline monthly closing by automating repetitive tasks and tightening data flow—consolidating key data sources and reducing manual entry wherever possible. I also set up a pre-close checklist that catches potential issues early, so the team can focus on high-value analysis rather than last-minute fixes. This way, we cut down on bottlenecks and free up resources for strategic insights.

RPA and Automation in general is a great ally to expedite and modernize closing processes. It's important to stay ahead with new technologies in accounting and save more time for.analyis rather than data inputs and files transformation.