Analyze month-end procedures and identify automation opportunities
Sarah is deciding how to handle month-end closing as TechStart grows. You'll help her evaluate three different approaches. Each choice has consequences for timing, accuracy, compliance, and business confidence. Choose one approach to see its impacts.
Your Decision Impact
The approach you choose will directly affect Sarah's ability to make decisions, report to stakeholders, and grow confidently. Pay attention to how each option performs on the month-end close workflow scoreboard.
Continue recording transactions as money changes hands. Make month-end decisions based on cash balances.
Continue using cash ledger but manually calculate and add accruals at month-end.
Implement complete month-end closing: accruals, deferrals, adjusting entries, and closing entries.