Period Close Reconciliation

Period End Close and Reconciliation

A period-end close ensures all financial transactions are accounted for in the previous period. The period-end process is essential because it is a way of separating the current period to the next. Foundry Bean close process ensures that system follows the matching principle, which requires that expenses, along with the total revenue, are recorded and recognized in the same period.

Review transactions are recorded and accounted - automatically

If the transactions are not complete or not accounted, the system will count the number of transactions not accounted and display the transactions. You can run the accounting program directly from the dashboard to create accounting.

Close and open modules in dashboard in few clicks

You can close a module once there is no pending transaction. System will let you know the reason the module cannot be closed. This way the system will ensure all transactions are processed and accounted for in the same period.

Month-End Close Checklist for every module

Every module has its own set of checklists to ensure the accounting transactions are correct and any transactions in the period are not accounted. The dashboard also gives the total transaction amount which also needs to be reconciled.

Account Reconciliation Module

A General Ledger reconciliation module is designed to streamline all aspects of the account reconciliation process to ensure that all the accounts are reconciled in a planned manner. It automates the reconciliation between general ledger and transaction modules.

Automatic Reconciliation

Most of the transactions are automatically reconciled and but you have option to reconcile manually. Moreover it gives a list of accounts reconciled during the period