The #1 reason your month-end close is failing (And how to fix it)

If you dread month-end, you're not alone. The close process is critical and stressful. Yet most teams rely on outdated, manual workflows.

These workflows drain time and cause errors. We know the struggles: chasing journal entries, reconciling differences, and last-minute adjustments.

Why is this still the norm? More importantly, how can we fix it?

For once I am not going to talk about AI first, because the solution lies first in how organized you are!

That’s why I’m excited to show you what I've prepared for you. Learn more about it below ??

Why Your Close Process is Failing (Live Webinar)

?? March 25, 2025

Speakers:

??? Adam Riches, CPA – CEO & Founder, Netgain

??? Nicolas Boucher – Founder, AI Finance Club

What You’ll Learn:

• The hidden inefficiencies keeping your close process stuck in the past
• How AI and automation can slash close times in half while improving accuracy
• Proven strategies to eliminate bottlenecks and bring control back to your finance team
• Live Q&A—get your toughest questions answered by experts!

Imagine a close process where reconciliations happen automatically, manual data entry is eliminated, and your team actually gets time back at month-end.

In this free live webinar, you will learn how automation and AI can change the accounting close for the better.

This event is a must for accountants, controllers, and CFOs. It's perfect if you're ready to move past stressful, inefficient close processes.

Don’t miss your chance to ask our experts your toughest questions in a live Q&A.

Secure your free spot now!?

Note: This live webinar is sponsored by NetGain.

Your Month-End Close Checklist: Are You Covering It All?

To speak the truth, without automation, the month-end close is a checklist of chaos. But while you work toward a fully automated future, ensuring you follow a structured process is essential.

Btw here is the checklist I use for month-end closing:

Here’s a deeper breakdown of the key areas and the common pitfalls that lead to inefficiencies:

#1: General Ledger & Journal Entries

Most accountants assume that if the trial balance is balanced, everything is fine. Wrong. A clean trial balance doesn’t mean your GL is accurate—just that debits and credits match.

One underrated tip? Regularly audit your recurring journal entries. Example: In my previous company, we had a recurring entry for a subscription we had. The service was canceled, but the entry kept running for six months, quietly inflating expenses. Nobody caught it until an audit flagged it.

How to implement this:

• Once a quarter, pull a report of all recurring journal entries and verify that each one is still valid.

If an entry no longer makes sense, eliminate it—don't just let it sit there. #2: Payroll & Benefits

Payroll mistakes create instant chaos. Employees don’t care about your accounting system—they care about their paycheck being right.

One overlooked issue? Compensation accruals can be wildly inaccurate.

Example: When I took over my job as head of finance, projected year-end bonuses based on historical trends. However, due to a downturn, bonuses decreased significantly, and the system kept accruing at the old rate. The result? Our P&L was wrong by a 50k every month.

How to implement this:

• At mid-year and year-end, reconcile bonus, overtime, and commission accruals with actual expectations.

If trends shift, update estimates—don’t just rely on last year’s numbers. #3: Compliance & Internal Controls

Most teams follow internal controls only when being watched. That’s a risk.

A powerful but underrated trick? Have someone unfamiliar with the process try to "break" your controls.

How to implement this:

• Once a year, assign a "Red Team" audit—have a team member test the system for weaknesses.

If someone can bypass a control too easily, fix it before a real fraudster does. #4: Accounts Receivable & Payable

Cash flow problems often come from one thing: uncollected invoices sitting in AR.

A simple but effective approach? Aging schedule reviews should go beyond just looking at numbers—start calling clients. In my previous job, we had a large outstanding invoice for 90+ days. Emails weren’t working, but when we personally called the client, the invoice got paid within a week.

How to implement this:

• Every 30 days, flag all invoices past due and assign an owner to follow up.
• High-value overdue invoices? Skip email—call your contact directly (now that AI is everywhere, people care more about human interaction).

#5: Final Review & Period Closure

A messy close process creates unnecessary stress.

One key but often skipped step? Audit significant past transactions post-close.

This is how you can still act on an incorrectly booked prepaid expense and save you thousands in adjustments.

How to implement this:

• After each close, select the top 10 transactions and verify accuracy.
• It takes 30 minutes but prevents year-end surprises (and discussions with your auditors).

If you want to learn more from me on this, join our webinar to learn the practical actions you can implement.

?? Reserve your free seat now

Your AI for Finance expert,

Nicolas

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P.S. If you are a CFO, I have an event for you on how to become an AI CFO.

It's free and you can join here: https://lu.ma/q4c72ux9