Financial Close
Complete your month-end close faster and better, without changing the way you work.
Bring in and consolidate multiple entities
Consolidate financial statements of parent and subsidiary companies into one set of statements. Streamline operations from multiple entities to promote better efficiencies without allocating additional resources.
Easily conduct reconciliations
Compare different sets of records to ensure that figures are in agreement. Identify the root of discrepancies while slicing and dicing the data to reach the most granular building-block.
Perform intercompany eliminations
Create eliminations within Datarails to have a consolidated view of your organization and simplify reporting while avoiding additional manual calculations.
“Datarails has allowed me to maintain my existing Excel worksheets while speeding up the closing process. This allows me to focus on analysis as opposed to simply reporting.”Lew Bader
Run Account Analyses
Once you bring in multiple data sources, use Datarails to verify your numbers, identify new GLs and automatically update GL roll-ups in consolidated files.
Frequently Asked Questions
The financial close process is an accounting procedure that is conducted at the end of the month to close out the current period. It refers to reviewing all account balances before the end of the accounting cycle. It typically starts with recording the journal entry for every transaction or activity, and is followed by the review stage.
Financial close management is a recurring process in management accounting by which accounting teams check and adjust account balances at the end of a particular period of time so that they may produce financial reports that are reflective of the stance of the organization.
