5 Ways to Avoid Year-End Financial Close Burnout

5 Ways to Avoid Year-End Financial Close Burnout

Most financial professionals dread year-end close, especially those who are juggling many different books or entities. Stressful days and long nights can occur due to:

  • Consolidation nightmares from merging multiple Excel workbooks and hunting down formula or link errors.
  • Fielding endless questions from department heads or sorting through piles of documents trying to uncover why particular accounts increased or decreased.
  • Backlash that comes when the wrong reports land in the wrong hands, and confidential data is mistakenly shared.
  • Inconsistent formatting that requires combing through spreadsheets to correct styles.
  • Long nights, stressful days (and dare we say any time off during the holidays!) to ensure books are closed in time.
  • Errors that delay your close or put you in the hot seat when financials must be recalled for corrections.

What’s the secret of those few who seem to sail smoothly through close? They’re likely using financial reporting software integrates with their GL to deliver faster, more accurate reporting.  They enjoy:

  1. Easy multi-entity consolidation and the ability to create any report needed in seconds.
  2. One-click automated distribution of all reports, to everyone on the distribution list.
  3. The ability to run through multiple soft closes, reviewing and making corrections instantly, long before the final close.
  4. Complete confidence in the accuracy of the financial statements since data is pulled directly from the GL without the risk of manual errors.
  5. Plenty of time to enjoy the holidays.

FYIsoft can help make this year-end close easier and faster than you ever imagined. The powerful engine behind FYIsoft includes our component-based architecture, designed to make financial reporting fast, easy and accurate, whether you have 10 reports or 1000.

Learn more about FYIsoft’s financial reporting and financial analytics capabilities. Request a demo today and in just 30 minutes you’ll be on your way to the fastest, easiest close you’ve ever experienced!

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