Period end closing is filled with identical repetitive tasks which must be completed in a specific order against precise timetables. Aico Closing brings all these tasks together into a single, highly efficient digital tool where you can monitor their progress, ensure that internal controls are implemented, identify bottlenecks, and harmonise your processes across all your companies.
Our configurable closing templates are simple, but highly configurable. You can choose the data that you and your auditors want to see. It’s easy to add comments and attachments. Closing tasks can be given priority and risk ratings, and they can be assigned to specific users and task groups. You can include instructions on the template itself, in an attachment, or add a hyperlink to an external document system.
You can automate and standardise all closing tasks across your organisation. There is no need to run reports manually, just set up a single task to automate an ERP program with dynamic parameters and then roll it out to all your companies. The output will automatically be attached to the associated closing task and the responsible user will be informed when the task is ready. With smart tags, you can dynamically change automation parameters for each company and period, so the tasks only have to be set up once.
External robotic process automation (RPA) can be monitored by closing tasks so that they can be scheduled and tracked and their output is also attached to the task if needed.
In Aico Closing, you can also create a variety of manual tasks. You can perform and track manual tasks during period closing and assign these tasks to specific users with due date and approvals as required.
There’s no need to open or close periods manually for every company – you can automate period management by defining tasks that open or close periods and sub-ledgers automatically based on a predefined schedule and settings.
Both manual and automatic closing tasks can be configured to have multiple dependent tasks. The system monitors the status of tasks and opens the succeeding tasks for execution only after the preceding task has been completed. Start dates and dependencies define the order of closing tasks. A preceding document must be completed and the start date must have arrived before the processing of a successor document can start.
Automated journal creation
You can define automated tasks to extract ERP data into a template to perform calculations on the data. As a result, an Aico journal is created.
You can create a closing dashboard for monitoring the status of all closing tasks – what’s their priority, who is responsible for them, and whether they are late.
You can set up a multi-phase workflow for closing tasks. Due date tracking makes it easy to monitor that tasks are completed on time.