Month End Close Checklist

Related products: R&D, etc

I like the look of Digits and the transaction review. It would be great if there was the ability to have a month end close checklist for team members. 

Thanks @Amy and that’s a great idea! Could you share what your ideal month end checklist would include or look like? Are there other tools you’re using for this currently? Would love to know more!

If Digits is already pulling in the transactions and balances, it could make a Reconciliation checklist for the balance sheet accounts. It could have the ability for me to add client specific tasks that need to be completed before the month end, such as journal entries. I am imagining the ability to pull in the QBO info and integrate it with the Accountants month end review process. And on a larger scale have a main page with all my clients for an overview on the close process, or see my team members progress. This would help greatly in the process prior to sending out the financials to clients. 

Thank you @Amy so much, this is incredibly helpful to the team. Really appreciate the additional information and I understand better how it would help in your monthly process for each client. 

I will add to this idea that I think a Transaction Review of any Journal Entries during the period could be very helpful. Journal Entries are where the exceptions or non-transaction items get handled and they can really swing financials. (Is a great area to hide fraud as well.) 

Can see it being helpful to bring to clients’ attention that you made journal entries for exceptions and that they concur with any assumptions made. For example, if you accrued $XXXX in unbilled expenses, you could send an Action Item asking them to confirm that accrual.

Thanks @Caroline Devoy this is great feedback and has been shared directly with our product leads.