Accelerating the Financial Close Process

Accelerating the Financial Close Process

Reading time: 4 mins

Key Takeaways

⇨ FS2 JournalEntry solution automates the creation and approval of manual journal entries in SAP.

⇨ Automatic data validation, coding and formatting reduce the instances of errors.

⇨ Real-time reporting on journal entries streamlines processes, reducing the time required to complete the financial close.

In this article, you'll explore how solutions like FS2 JournalEntry automate processing, review and approval of all manual journal entries (recurring, intercompany, FX, etc.) and enables accurate and transparent reporting. The solution validates accounting information (e.g., cost centers) at initial upload/creation, automates the processing of non-PO invoices and expenses, enables touchless payment processing and provides visibility into invoices across locations. Learn how companies can apply technology to their financial close process, look beyond the transactional activities, reduce time in closing the books and gain visibility across operations.

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