Hey Reader,

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 Yet most teams rely on outdated, manual workflows.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 | ⏰ 10:00 AM MT

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.

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

​

P.S. Today is the last day we accept enrollments for the Advanced AI for Finance Live Course.​
The course starts tomorrow, and there is only one seat left.
​Reserve it now!​