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A/R Manager's Guide to Month-End Close Process

Understand the fundamentals of the month end close process, four of the biggest account closing challenges and finally build a comprehensive month-end close checklist.

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About this Course

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description
lessonOverview

When you think of Credit and Collections, the first thing that comes to mind is probably not your month-end, quarter-end, or year-end closing processes, yet these are the most critical roles you may have responsibility for, and here is why.

Inaccuracy and visibility are the two major challenges that A/R Managers are facing right now since the month-end close process can be disrupted, messy, and complex, with information coming in from multiple systems and activities that need to be consolidated, reconciled, and standardized.

Join John M. Donovan, who has managed very large global A/R portfolios for major Fortune 100 high-growth companies, as he recommends various strategies on how you could reconcile as many accounts as possible every month seamlessly.

Key Takeaways include:

    • 4 Major Account Closing Challenges
    • 3 Ways to Overcome Close Challenges
    • Key Points to Remember while Building a Close Cycle
    • Checklist Assessing the Close Process in 4 Quadrants
transcript

Coming Soon
resources Coming Soon
instructor
name title image description
John M. Donovan Advisory Service Consultant, Quote to Payment Subject Matter Expert John M. Donovan is a senior financial services executive specializing in all aspects of the Order-to-Cash and back-office processes. Managed several very large global A/R portfolios for major Fortune 100 and 500 high-growth companies in various stages of delivery and transition, as well as small companies in a startup and growth mode.
recommendation
image tag title description link duration
Cash Reconciliation Complete Guide to Different Payment Options in Cash Application Watch this A/R manager’s tutorial on how to deal with processing variables in cash application. https://academy.highako.com/complete-guide-to-different-payment-options-in-cash-application 30 min
Cash Reconciliation Selecting the Right Cash Forecasting Model for Your Business Understand how to evaluate your cash reconciliation and cash forecasting strategies to improve visibility and transparency. https://academy.highako.com/selecting-the-right-cash-forecasting-model-for-your-business-course 20 Min
tribe
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topic ar-managers-guide-to-month-end-close-process input

Curriculum30 Mins

  • Introduction to the Month-End Close Process (~ 12 Mins)
  • Preview
    Financial Close Management: Introduction
  • What Makes the Close Process Go Smoothly
  • Major Account Close Challenges and How to Overcome Them
  • Understanding the Current Status of Your Account Close: Brief Survey (~ 5 Mins)
  • What Percentage of Your Close Status Responsibilities are Manual
  • Which of Your Close Process is the Most Time-Consuming
  • How Much Time Does Your Team Spend Each Month on Your Close Process
  • What Percent of Your Close Information is Calculated on Spreadsheets
  • Close Cycle Checklist - Do's and Don'ts (~ 5 Mins)
  • Importance of Having a Close Cycle Checklist
  • 10 Key Points to Remember while Building a Close Cycle Checklist - Part 1
  • 10 Key Points to Remember while Building a Close Cycle Checklist - Part 2
  • Month-End Closing Process: Detailed Walk-Through (~ 10 Mins)
  • Correct Order to Follow in Month-End Closing Process
  • How to Deal with Close Timelines
  • How to Assess the Closing Process Accurately
  • Certificate and Feedback

About this Course

promoImage
description
lessonOverview

When you think of Credit and Collections, the first thing that comes to mind is probably not your month-end, quarter-end, or year-end closing processes, yet these are the most critical roles you may have responsibility for, and here is why.

Inaccuracy and visibility are the two major challenges that A/R Managers are facing right now since the month-end close process can be disrupted, messy, and complex, with information coming in from multiple systems and activities that need to be consolidated, reconciled, and standardized.

Join John M. Donovan, who has managed very large global A/R portfolios for major Fortune 100 high-growth companies, as he recommends various strategies on how you could reconcile as many accounts as possible every month seamlessly.

Key Takeaways include:

    • 4 Major Account Closing Challenges
    • 3 Ways to Overcome Close Challenges
    • Key Points to Remember while Building a Close Cycle
    • Checklist Assessing the Close Process in 4 Quadrants
transcript

Coming Soon
resources Coming Soon
instructor
name title image description
John M. Donovan Advisory Service Consultant, Quote to Payment Subject Matter Expert John M. Donovan is a senior financial services executive specializing in all aspects of the Order-to-Cash and back-office processes. Managed several very large global A/R portfolios for major Fortune 100 and 500 high-growth companies in various stages of delivery and transition, as well as small companies in a startup and growth mode.
recommendation
image tag title description link duration
Cash Reconciliation Complete Guide to Different Payment Options in Cash Application Watch this A/R manager’s tutorial on how to deal with processing variables in cash application. https://academy.highako.com/complete-guide-to-different-payment-options-in-cash-application 30 min
Cash Reconciliation Selecting the Right Cash Forecasting Model for Your Business Understand how to evaluate your cash reconciliation and cash forecasting strategies to improve visibility and transparency. https://academy.highako.com/selecting-the-right-cash-forecasting-model-for-your-business-course 20 Min
tribe
widgetType Id components
topic ar-managers-guide-to-month-end-close-process input

Curriculum30 Mins

  • Introduction to the Month-End Close Process (~ 12 Mins)
  • Preview
    Financial Close Management: Introduction
  • What Makes the Close Process Go Smoothly
  • Major Account Close Challenges and How to Overcome Them
  • Understanding the Current Status of Your Account Close: Brief Survey (~ 5 Mins)
  • What Percentage of Your Close Status Responsibilities are Manual
  • Which of Your Close Process is the Most Time-Consuming
  • How Much Time Does Your Team Spend Each Month on Your Close Process
  • What Percent of Your Close Information is Calculated on Spreadsheets
  • Close Cycle Checklist - Do's and Don'ts (~ 5 Mins)
  • Importance of Having a Close Cycle Checklist
  • 10 Key Points to Remember while Building a Close Cycle Checklist - Part 1
  • 10 Key Points to Remember while Building a Close Cycle Checklist - Part 2
  • Month-End Closing Process: Detailed Walk-Through (~ 10 Mins)
  • Correct Order to Follow in Month-End Closing Process
  • How to Deal with Close Timelines
  • How to Assess the Closing Process Accurately
  • Certificate and Feedback