Month-End Close Without Chasing Receipts
For many finance teams the opening week of the month goes on chasing: receipts that were not submitted, claims that were not coded, payments nobody can explain. The close is slow because the evidence was not captured when the money was spent.
Why it drags
- Receipts arrive late or never
- Entries are typed in from claims
- Questions about payments go back to staff who have forgotten
- Reconciliation starts when the month ends
A steadier routine
- Capture the bill at the time of payment.
- Post to the ERP continuously, not in one batch.
- Clear exceptions every week.
- At month-end, review what is left, not everything.
What to measure
Days to close, number of payments without a bill, and number of exceptions open at month-end. All three should fall.
How OmniCard fits
OmniCard captures every payment the moment it is paid: who, where, what for and against which policy, with the bill attached, and posts to Tally, SAP, Oracle, Zoho and Microsoft Dynamics. The Belgian Waffle Co., with 250 stores, reports 50% fewer man-hours on reconciliation.
Related: Corporate card reconciliation
Keep reading
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The End of Excel Sheets: Smart Finance Tools
Compliance Without Friction: Building Finance Policies Teams Actually Follow
Understanding Expense Receipts: Your Guide to Valid Proof of Purchase
End-to-End Expense Management: What CFOs Actually Need
