oboloo Glossary

Month-End Close Process Flowchart

oboloo Glossary

Month-End Close Process Flowchart

A Month-End Close Process Flowchart is a visual document that outlines the series of steps and activities necessary to complete an organization’s monthly financial close. The chart begins with the initial data collection and inputting of information into a financial system, and then moves through processes such as reconciliations, journal entries, reviews and reporting. With a Month-End Close Process Flowchart readily available, decision makers have the ability to quickly monitor their business in real-time, improving efficiency and accuracy.