Shortening Cut-off Date of Financial Close


For every delay of financial close finance staff always claims that there are a lot of creditor invoices and statement of accounts pending to receive in relation to previous month’s business activities.



CFO believes that for any good received and service rendered of the company there shall be existence of signed documents such as purchase order, good delivery note etc. So finance department shall be able to complete the financial close within few days immediately after every month-end.



FESA Professional Accounting has built over a lot of specialization of sub-systems. The bottleneck of the above situation is due to the issue of recognition of liabilities. The CFO can consider implementing the FESA Payable sub-system in order to capture all relevant liabilities as soon as practical prior receiving invoices and statement of accounts. Most importantly, FESA Payable can implement along with other accounting system as FESA Professional Accounting is merely one of implementation options working with FESA Payable despite it is the best combination for long term consideration.



Upon completion of implementation of FESA Payable, most of incurred liabilities can be captured by the system within one business day no longer rely on receiving all relevant invoices and statement of accounts in order to complete finance close despite there are triggering minor adjustments upon settlement as resulting of close book much earlier than before.