The Closer is becoming the standard product for balancing/reconciling AP, AR, Accrued Purchases, Sales Order, Inventory, COGS, Cash sub-ledgers and with release 2.5 PayPal to the General Ledger.
It is a substantial saver of time and labour during the busy and business critical periods of month-end, quarter-end and year-end by eliminating the manual reconciliation process of “ticking and tying” of the Dynamics GP sub-ledgers to the GL.
THE CLOSER identifies the problem entries, for example when GL distributions are posted to the wrong period or Journal Entries to your Control Account, you get a simple explanation of the cause of the problem and it will suggest the corrective actions to take to balance the financials, eliminating the need to take write-offs to close the books.
During 2009 there were two new releases of THE CLOSER. THE CLOSER 2.0 in July saw a cleaner User Interface with access to all of the functions from a single window, expanded error codes, enhanced help documentation with extended error code definitions and solution suggestions and a simplified setup and configuration process. THE CLOSER 2.5 in December 2009 added new reconciliation tools, Cash (which looks at the cash control account in the GL and compares it to the Cheque/Check book ID(s) in Dynamics GP), and PayPal (reconciles PayPal account information with the General Ledger), and enhancements for Inventory Reconciliations which now includes Landed Costs, Variance Adjustments, Missing Set-Up Values and WIP Adjustments.
In addition to streamlining month-end, quarter-end and year-end closes, audits are simplified and users have more time available to carry on with the normal day to day tasks of the accounts department which too often get pushed to one side during these periods or result in late nights in the office.
At management level there can be confidence that not only are deadlines in financial accounting continuously met but that the financial and operational reports tie.
Given the complexities that you can have just in trying to reconcile one set of month end accounts, if this is taken over many sites and many subsidiaries, then the time taken can be enormous, with THE CLOSER this time is eliminated, but not at the expense of heavy cost in money or time for training, as for such a complex application it is remarkably easy to pick up with practice. It allows for some customisation to take place to ensure that your company is reconciled in the way that you have done so in the past, but can also act as a guide to more conventional methods of month and year end reconciliations.
