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Soft close vs. hard close
March 27, 2023
Q. Our month end close timeline currently does not correlate with the calendar month even though we complete the close for the full month of April. For example, the close process starts on April 26 for the April reporting period. This requires all subledgers to close on April 26 and complete all GL transfers, to allow the Accounting team to begin reviewing accruals, etc.
Our issue is that we must accommodate both the early start of close (April 26) as well as cash movement through the end of…
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