Achieve a seamless financial close with financial month end close checklist automation software

Transform your month end close process into a systematic and error-free operation. Streamline financial closing, including year-end and month-end close processes, with ease and precision.

Advantages of close checklist automation

  • Efficient and accurate

    Automate critical month-end close checklist activities like journals, reconciliations, preparation of report packs and more. Ensure that every task to deliver your financial statements is executed automatically and accurately. Say goodbye to manual errors and delays in your financial close process.
  • Comprehensive coverage

    From data preparation to approval workflows, centralize all aspects of your close checklist, including task management, handling bank accounts and financial reports, to ensure a thorough and systematic end-to-end financial close cycle.
  • Beyond ERP boundaries

    Experience automation that extends beyond ERP, with our cloud-based or on-premises solution covering a wide range of financial tasks, such as accruals, intercompany, and reconciliations, making your month-end closing process more efficient and less time-consuming for your finance teams.
  • Real-time visibility

    Gain real-time insights into your financial activities. Keep track of financial information with insightful dashboards, enhancing the decision-making capabilities of your accounting team.

With Redwood’s automated checklist orchestration, we were able to achieve our target of a three-day close with improved compliance and visibility and improved reporting processes

Global Process Owner Record to Report, Global Medical Equipment Manufacturer

Financial close checklist solution overview

  • Data preparation

    Automate the data preparation of financial data and eliminate bottlenecks in your business processes for consistent and error-free data handling.

  • Approval workflows

    Streamline approval processes within your close checklist, ensuring compliance and efficiency.

  • Comprehensive audit trails

    Benefit from detailed audit trails that provide transparency and accountability in your financial close.

  • Global management and transparency

    Manage both your global and local close tasks in a controlled and synchronized manner.

  • Task scheduling

    Schedule tasks with templates and granular time/date options or trigger tasks based on workday and dependencies.

  • Standardized task catalog

    Choose from our catalog of ready-to-automate financial processes, including journal entry, balance sheet certification, intercompany and more.

  • Centralized dashboard

    Use a centralized dashboard to track period close status and progress by company, region, area and close milestones across all team members.

  • Simplified checklist management

    Do away with the need for excel spreadsheets and simplify checklist creation and maintenance by automatically managing attributes and providing flexible workflows with multiple levels of approvals and notifications.

Trusted by leading companies

Our satisfied customers include major global corporations, showcasing the trust and reliability of our financial close management software and record to report automation by Redwood.


81% of senior finance professionals say opportunities for process standardization and automation are the main driver for replacing their current system

FSN Research “The Future of Financial Systems”

Financial Close FAQs

What is financial close automation?

Financial close automation refers to the use of software tools to streamline and enhance the accuracy of the accounting processes involved in closing the books at the end of an accounting period. This automation solution helps the accounting department by reducing manual work in tasks such as data entry, reconciling bank statements and managing accounts payable and receivable. The goal is to ensure accurate financial statements, including balance sheets, cash flow statements and profit and loss statements, by automating repetitive bookkeeping tasks and minimizing discrepancies.

Redwood’s Record to Report software helps you transform your month end close process into a systematic and error-free operation by integrating various financial systems and data sources, supporting functionalities like intercompany eliminations, amortization, depreciation and bank reconciliation. It improves internal controls by standardizing closing procedures and ensuring compliance with regulatory requirements. This facilitates a more efficient monthly closing process, enabling finance teams to complete period-end closings faster and with greater precision, while also providing the necessary tools for stakeholders to track progress and manage financial health effectively. Redwood offers integrations with ERP systems such as SAP and Oracle, facilitating seamless data flow and a unified financial view, essential during the entire closing process.

Learn more about the touchless close, the paradigm shift in finance and read some of our successful use cases.

What is the financial close process?

The financial close process involves the methodical review and reconciliation of financial accounts to produce final reports for a given accounting period, typically at the end of the month, quarter, or year. This process ensures that all financial transactions are accurately accounted for and reflected in the company's financial statements. Key activities include reconciling accounts receivable and payable, verifying the accuracy of balance sheet accounts, and ensuring all income and expense accounts are correctly tallied and reported. Companies can streamline this process by investing in financial close automation software.

Redwood’s Record to Report software enhances the financial close process by automating many of the traditional manual procedures. It streamlines transaction matching, reconciliation processes and the sign-off on final reports, ensuring compliance and accuracy in financial records. The automation capabilities also support internal and external reporting by providing reliable and timely data, which is crucial for making informed business decisions and for performance management. By integrating with existing tech stacks and accounting systems, Redwood helps companies reduce the time spent on routine tasks, minimize errors due to manual processes and improve overall financial planning and analysis (FP&A), thereby making the entire financial close process more efficient and intuitive.

Discover how you can break the mold of manual finance: A fresh approach to accruals, provisions and reclassifications

What is the month end close checklist?

The month-end close checklist is a structured sequence of steps that accounting teams follow to ensure all financial transactions for the month are accurately recorded and reconciled, leading to reliable financial statements. This checklist typically includes: verifying and reconciling cash and credit card transactions; assessing fixed assets, liabilities and equity adjustments; reviewing prepaid expenses and petty cash; ensuring all conversions and financial transfers are correctly executed; and closing out revenue and expense accounts. It's also important to check for variances from previous months and make necessary adjustments, ensuring all financial records are up-to-date and reflective of the month's activities.

Redwood’s Record to Report software significantly enhances the efficiency and accuracy of the month-end close process. By automating many of the steps on the month-end close checklist, Redwood helps eliminate manual errors and reduce the time spent on repetitive tasks. Its integration capabilities with various accounting software and systems, such as Microsoft, NetSuite, and QuickBooks, enable seamless data flow and reconciliation processes. This automation not only supports thorough internal reporting and informed decisions but also ensures compliance with established accounting procedures, allowing teams to focus on more strategic analysis and planning for the year-end closing and other significant financial assessments.

Learn more about the touchless close and how to transform month-end stress into strategic success