Home / Case Studies / Month-End Close & Chart of Accounts Redesign
CASE STUDY
InteractiveMonth-End Close & Chart of Accounts Redesign
A 1,200 to 280 account redesign with full mapping, reconciliations and a close calendar that tracks the close from 15 days down to 7.
Business challenge
After years of ad-hoc account creation, a trading group had 1,200 ledger accounts, slow reconciliations and a 15-day close, with intercompany differences found late.
Outcome
Finance closes faster with fewer surprises, any balance can be traced from the old account to the new one, and the controller sees exactly which task or reconciliation is holding up the close.
Overview
A month-end close workbook for a two-company trading group moving from 1,200 legacy ledger accounts to a shared chart of 280 five-digit natural accounts with department and branch segments. Legacy balances are mapped old to new and traced to the new trial balance. Standard journals, bank, receivable, inventory, payroll and intercompany reconciliations, intercompany elimination and a dependency-driven close calendar produce consolidated and entity financial statements, with a 20% income tax accrual, and close-performance KPIs. How to use this model: On the Dashboard sheet, choose the close month in cell D5, the entity or consolidated view in I5 and the capacity scenario in N5 to see how a leaner team or a rework surge changes close time; the Reconciliation sheet shows the open items, ageing and evidence for the reconciled accounts, and Mapped TB shows the trial balance on the new chart of accounts; on the Close Calendar and Reconciliation sheets, see open tasks, owners, dependencies and unreconciled items for the month; account design sits on the Chart of Accounts and Old-to-New Mapping sheets, and the Checks sheet confirms the mapping, journals and statements tie.
Approach
A segmented chart of accounts (natural account, department and branch) replaces the legacy list, with one-to-one mapping and balance tracing. Standard journals, reconciliations and intercompany elimination feed the statements, and a dependency-driven close calendar tracks every task and its owner.
Capabilities
Skills
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