FUNCTIONS has developed specific processes for financial applications. The Closer is our premiere product. The Closer, more than a system, is a process that monitors and reviews the General Ledger closing process through data bases which create an artificial intelligence database.

The principles behind The Closer are simple, yet they require accounting and technological expertise blended seamlessly to produce the results required. Installation of The Closer requires careful analysis and understanding of every single entry that affects the General Ledger.

E-Mails notifying Controller, CFO or any other person identified when a particular input falls outside the currency range identified as tolerable for that particular input. For example if payroll is supposed to be $2 million and it comes in at $1.2 million, a notice would go out informing a significant variance from expected results.

A report sent electronically to the designated parties with all adjusting entries over a specific currency amount. This would allow the Controller or CFO to review any unusual entries and investigate accordingly. This is recommended since by their nature Adjusting Journal Entries are non-recurring and are not susceptible to setting up tolerance amounts. A confirmation e-mail once all of the inputs are received and the process is ready to close.

The Closer installation process would take from three to six months, depending on the size of the Company. The Closer works only at the single General Ledger site and is not recommended for consolidations. It requires a PC to be dedicated to the system (the specifications are determined in the preliminary survey and depend on size of the Company and the number of transactions).