Know You’re Ready to Close Before You Close
One readiness score built from reconciliations, accruals, and open exceptions tells you whether the books are actually ready - before you tell anyone the month is closed.
Illustrative product view
What close readiness in Fintra does
Closing early feels responsible right up until a missed accrual reopens the period. Close readiness gives you a single score, computed from the actual state of reconciliations, accruals, revenue recognition review, and open exceptions, so "are we ready" is answered by the data instead of a gut check.
- A single readiness percentage computed from live close-task status
- Breakdown by area - reconciliation, accruals, revenue recognition, exceptions
- Risk flags on anything that would normally cause a reopened period
- History showing readiness trend close over close, month over month
Core capabilities
| Capability | What it does | What it replaces |
|---|---|---|
| Readiness score | Computes an overall percentage from close-task completion | A verbal "I think we're good" from the bookkeeper |
| Area breakdown | Shows readiness by reconciliation, accruals, and revenue | Digging through the close checklist to spot gaps |
| Risk flags | Highlights items likely to cause a reopened period | Discovering the gap after the period is already closed |
| Trend history | Tracks readiness at the same day-of-close over time | No visibility into whether the close is getting faster |
| Close Board link | Draws directly from Close Board task status, live | A manually updated readiness spreadsheet |
How it works
From open tasks to a trustworthy score
- 1
Work the Close Board
Complete reconciliations, accruals, and reviews as you normally would.
- 2
Score updates live
Readiness recalculates automatically as tasks complete and exceptions are resolved.
- 3
Check the breakdown
See exactly which area - reconciliation, accruals, revenue - is dragging the score down.
- 4
Resolve risk flags
Address the specific items flagged as likely to cause a reopened period before declaring the close done.
- 5
Close with confidence
Close the period once readiness reflects the actual state of the books, not a hopeful estimate.
A worked example
Frequently asked questions
How is the close readiness score calculated?
It combines the completion status of Close Board tasks - reconciliations, accruals, revenue recognition review - with any open exceptions flagged elsewhere in the system, weighted by how likely each gap is to cause a reopened period. It updates automatically as work is completed.
What counts as a risk flag on the readiness score?
Items historically responsible for reopened periods: unreconciled bank accounts, missing accruals, uncoded bills sitting in AP, and unresolved revenue recognition questions. Each flag names the specific item, not just a lowered percentage, so you know exactly what to fix.
Can I close the books even if readiness isn’t 100%?
Yes - readiness is a decision-support signal, not a hard gate. Some businesses close intentionally below 100% and note the exception for next period. The point is that the decision is informed, rather than discovering the gap after the period is already closed and reported.
Does close readiness show trends over time?
Yes. Readiness at the same day-of-close is tracked month over month, so you can see whether your close process is actually getting faster and cleaner, or whether the same gaps keep reappearing every cycle.
Stay in the loop
One practical finance briefing a week - new guides, checklists, and benchmarks.
Know your close is ready before you say so
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