SAP Month End Close
Your month end close in SAP can be a time-consuming process that is exacerbated by tight, high pressure reporting deadlines. There are a lot of SAP month end activities to complete, all with specific deadlines and dependencies that not only require tasks to be done quickly, but also in sequence. Delays in one process can have a knock-on effect throughout your SAP month end close activities.
One of the most important and time-consuming activities during the month end close in SAP is the completion of balance sheet reconciliations. One of the main issues with balance sheet reconciliation processes is the amount of manual work that is normally performed.
Large volumes of manual work result in:
- Labour intensive processes and time wasted
- High cost of skilled resources performing menial tasks
- High error rates
- Lack of standardisation across the organisation
- Lack of visibility across the organisation
- Lack of control
- Lack of accountability
Using the BEST GL Reconciliations module, you can now eliminate the large number of manual processes and rather perform your month end Balance sheet reconciliations in SAP. Using automated processes, you can greatly reduce manual activities to reduce the time taken to complete reconciliations. Not only can reconciliations be performed more accurately and uniformly across the organisation within SAP, but they can also be managed throughout the month end close process to be completed quicker.
Being able to manage your approval status using BEST Management Reporting, allows for enhanced visibility to manage outstanding recons and to ensure that deadlines are met. Approval statuses can now be viewed real-time in SAP for accurate assessments of completed and outstanding reconciliations.
Being able to manage your month end reconciliations within the BEST GL Reconciliation Module, ensures that one of the largest month end dependencies is controlled from end to end, to minimise the impact on other activities and to ultimately assist in meeting your month end close deadline.
In terms of managing all month end tasks within SAP, the Financial Closing Cockpit provides the solution. It allows for the tracking and automation of month end tasks, managing dependencies, managing deadlines and assigning responsible people. All the programs and transactions within the BEST Modules are fully integrated with the Standard SAP functionality – including the Financial Closing Cockpit. This allows for the activities performed within the BEST Modules to be incorporated into your existing SAP month end close activities.
BEST Transactions included into the SAP Automated Financial Closing Cockpit.
The activities performed within the BEST Reconciliation Module – such as the completion of recons, approvals and management reporting – can now be incorporated into your existing SAP month end process and managed within Standard SAP via the Financial Closing Cockpit. In this way, not only can you use the BEST Modules to manage specific key components of your month end, but you can also integrate the BEST Module activities into the greater month end close process via Standard SAP and the Financial Closing Cockpit functionality.
Your month end close in SAP can be a time-consuming process that is exacerbated by tight, high pressure reporting deadlines. There are a lot of SAP month end activities to complete, all with specific deadlines and dependencies that not only require tasks to be done quickly, but also in sequence. Delays in one process can have a knock-on effect throughout your SAP month end close activities.
One of the most important and time-consuming activities during the month end close in SAP is the completion of balance sheet reconciliations. One of the main issues with balance sheet reconciliation processes is the amount of manual work that is normally performed.
Large volumes of manual work result in:
- Labour intensive processes and time wasted
- High cost of skilled resources performing menial tasks
- High error rates
- Lack of standardisation across the organisation
- Lack of visibility across the organisation
- Lack of control
- Lack of accountability
Using the BEST GL Reconciliations module, you can now eliminate the large number of manual processes and rather perform your month end Balance sheet reconciliations in SAP. Using automated processes, you can greatly reduce manual activities to reduce the time taken to complete reconciliations. Not only can reconciliations be performed more accurately and uniformly across the organisation within SAP, but they can also be managed throughout the month end close process to be completed quicker.
Being able to manage your approval status using BEST Management Reporting, allows for enhanced visibility to manage outstanding recons and to ensure that deadlines are met. Approval statuses can now be viewed real-time in SAP for accurate assessments of completed and outstanding reconciliations.
Being able to manage your month end reconciliations within the BEST GL Reconciliation Module, ensures that one of the largest month end dependencies is controlled from end to end, to minimise the impact on other activities and to ultimately assist in meeting your month end close deadline.
In terms of managing all month end tasks within SAP, the Financial Closing Cockpit provides the solution. It allows for the tracking and automation of month end tasks, managing dependencies, managing deadlines and assigning responsible people. All the programs and transactions within the BEST Modules are fully integrated with the Standard SAP functionality – including the Financial Closing Cockpit. This allows for the activities performed within the BEST Modules to be incorporated into your existing SAP month end close activities.
BEST Transactions included into the SAP Automated Financial Closing Cockpit.
The activities performed within the BEST Reconciliation Module – such as the completion of recons, approvals and management reporting – can now be incorporated into your existing SAP month end process and managed within Standard SAP via the Financial Closing Cockpit. In this way, not only can you use the BEST Modules to manage specific key components of your month end, but you can also integrate the BEST Module activities into the greater month end close process via Standard SAP and the Financial Closing Cockpit functionality.