By Mark Whitney
I want to share some practical thoughts and experience on what really makes a successful month end close, particularly for group reporting. Many people will read this and think, “we’ve already got this sorted.” And in many cases, that may be true.
But it’s worth asking a simple question:
Is your process something you’ve actively designed, or something you’ve inherited?
And if you have identified improvements before, have they actually been implemented?
Across different organisations, there are consistent themes that underpin a strong month end close. This article brings those together, so you can reflect on your own process and identify where improvements could be made.
1 Documentation
It sounds obvious, but is your entire month end process clearly written down from start to finish?
This should be a thorough, end-to-end view covering all contributors and activities. It also needs to be easy to access, whether that’s via your intranet or shared centrally across the business.
A useful approach is to break the process into three stages:
- Before reporting
- During reporting
- After reporting
This structure ensures:
- Pre-requisites are clearly defined before the process begins
- Reporting requirements (especially for local finance teams) are understood
- Final wrap-up and delivery tasks are not overlooked
Ultimately, this becomes a checklist. One that confirms whether you’re ready to start, and whether everything has been completed correctly.
2 Integration
Once your process is documented, the next step is to make it fully connected.
Each task should clearly define:
- Ownership – who is responsible
- Pre-requisites – what needs to happen first
- References – where the task is completed (systems, files, or locations)
This removes ambiguity and reduces dependency on informal knowledge or “how it’s always been done.”
3 Structure
There is no single way to structure the steps included within a month end close. Some organisations prefer a simple, high-level process, while others require a more detailed and sequential approach. This often depends on how centralised the finance function is.
Regardless of the approach, every process should deliver on the same fundamentals:
- Completeness – all required data is captured
- Timing – tasks are allocated realistic deadlines
- Accuracy – reconciliation rules are clear and followed
- Ownership – there is a clear audit trail of activity
- Presentation – reports are delivered as expected
The structure may vary, but these outcomes should not.
4 Efficiencies
The more you can automate or standardise, the less reliance there is on manual effort. This reduces workload, whilst also creating time for more valuable analysis and insight.
Common areas to improve efficiency include:
- Data load – automate feeds from local systems into group reporting
- Data reuse – carry forward unchanged data or prior period balances
- Company-level requirements – tailor inputs based on relevance
- User access – simplify interfaces through role-based permissions
- Eliminations – automate intercompany, investments, and minority interests
- Reporting – automate outputs such as cash flow and report distribution
Efficiency isn’t just about speed. It’s about improving the quality and consistency of the outcome.
5 Flexibility
A strong month end process should not be rigid. It needs to adapt as requirements change.
For example:
- Additional disclosures – often required at half year or year end
- Late adjustments – particularly during year end close
- Multiple datasets – such as budgets and forecasts alongside actuals
The goal is to extend your existing process, not rebuild it each time. Consistency in user experience is key.
6 Knowledge
Finally, the quality of your reporting is directly linked to the people behind it. This applies across the entire process, from local finance teams through to the CFO.
To support this, organisations should:
- Provide clear training
- Maintain up-to-date user documentation
- Reduce reliance on key individuals
Without this, you risk errors, inefficiencies, and over-dependence on “go-to” experts, particularly where complex spreadsheets or systems are involved.
In Summary
No two organisations deliver reporting in exactly the same way. The aim of this article is to highlight the importance of taking a step back and fully considering the month end process that underpins your reporting.
By documenting that process clearly and reviewing where improvements can be made, you can achieve better integration across tasks, a stronger understanding of responsibilities, and ultimately a more accurate and timely delivery of information.
If you’d like to talk through your month end close or explore where improvements could be made, feel free to reach out to me or the team at Aramar.