Learning Objectives

• Formalize Accrual Processes: Establish a structured, document-driven approach to finding unbilled expenses, moving away from informal processes like flux analysis and “best guess” estimates to mitigate the high-risk judgment involved in accruals.
• Master Prepaid Management: Define the standard treatment of prepaids and identify the functional requirements—such as automated amortization schedules and single-click journal entries—needed to avoid common errors and manual rollforward headaches.
• Implement the Document-to-Close Strategy: Utilize invoices or contracts as the source of truth to connect procurement and other teams executing purchases for the business with accounts payable, ensuring expected schedules are established, and documentation is centralized to eliminate “blind approvals”.
• Transform Close with Automation: Apply the principles of a digital subledger to provide auditors with direct access to a clear audit trail, shifting time from preparation and manual reconciliation toward strategic financial analysis.