Automation is great, but there are other effective ways to improve your accounting organization's ability to close the books faster.
As an accounting technology advocate, when I'm asked to give advice on how to close the books faster my first answer is always "less spreadsheets, more software." Of course, applications like Gappify's Vendor Accrual Solution are critical in reducing manual accounting entries and eliminating errors (shameless plug out of the way early). But as your typical and practical accountant with hands-on experience running month-end closes, I fully understand that automation today can only take us so far.
With that in mind, Gappify is taking an active approach this year in sharing close-related tips/tricks we learn from our accounting community. We have several announcements soon about programs/platforms we've designed to equip fellow accountants with practical and hands-on guides/tools helpful running an efficient close. To hear about these updates, please follow us on our LinkedIn page located here.
For this very first post of 2017, I'd like to start by sharing my 4 P's for a Faster Accounting Close:
In our future blogs, we'll explore each area of accounting in greater detail to share specific and tips and tricks. For now, we hope that these 4 P's will serve as an effective reminder on how to set a strong foundation to running an efficient month-end accounting close.