Platform
A close that is a review, not a rebuild.
Accruals, prepayments and clearing-account recs, drafted so you close faster.
Overview
Close is where the books come together, and where the manual work piles up. dexIQ drafts the repetitive parts of close so your team spends its time on review and judgement, not data entry.
The close agent works through accruals, prepayments and clearing-account reconciliations, prepares the reporting pack draft, and flags what needs a human eye. You review and sign off; dexIQ does not close a period on its own.
The result is a shorter, calmer close with a complete trail behind every entry.
What you get
- Accruals and prepayments drafted for review.
- Clearing-account reconciliations prepared automatically.
- Reporting pack drafts ready at close.
- Every entry logged with actor, time and reason for audit.
Close is slow because of what was left undone
Almost nothing that makes a close slow happens during the close. It happens in the four weeks before it: invoices that sat uncoded, bank lines nobody matched, an intercompany balance that stopped agreeing in week two.
Close then becomes the moment all of that has to be found and fixed at once, under deadline, by the people least able to remember the context. That is why closes get longer as businesses grow rather than shorter.
dexIQ moves the work forward. Because coding, matching and reconciliation happen continuously, the first working day of the month starts from a ledger that is already close to right. What remains is judgement: is this accrual reasonable, is this provision still needed, does this variance need explaining.
What gets drafted before you start
The recurring, mechanical parts of close are drafted from the underlying data and presented for review with the workings attached.
- Accruals for goods received not invoiced, and for recurring costs with a known pattern.
- Prepayment schedules with the current period release calculated.
- Clearing and suspense account reconciliations, with unexplained items listed rather than buried.
- Intercompany balances matched across entities, with differences identified.
- Depreciation and recurring journals prepared against the fixed asset register.
- A draft reporting pack with variance commentary sourced from the transactions that moved.
The close checklist stops being tribal knowledge
In most finance teams the real close checklist lives in one person head, partly in a spreadsheet, and partly in a habit nobody documented. It works until that person is on leave.
Running close through a system makes the sequence explicit: what has to happen, in what order, who owns it, what is still outstanding, and what is blocking sign-off. That visibility is worth as much as the automation, particularly in the first close after someone leaves.
Nothing closes itself
dexIQ drafts and reconciles. It does not close a period, and it does not post an adjusting journal into a locked period on its own. Closing is a control point with an owner, and the sign-off stays with them.
Every drafted entry carries its workings, so review is checking reasoning rather than recalculating. The audit trail runs from any figure in the pack back to the source document.
Questions
Month-End Close, answered.
How much faster can we close?
Teams typically move from a close measured in weeks to one measured in days. The gain comes less from doing close tasks faster and more from arriving at close with the ledger already reconciled, so the work is review rather than reconstruction.
Does dexIQ post journals automatically?
It drafts them with the workings attached and waits for approval. A human approves every action by default, and dexIQ does not close a period or post into a closed one on its own.
What close tasks can be automated?
The repetitive, rules-based ones: accruals for goods received not invoiced, prepayment releases, depreciation, recurring journals, clearing and suspense reconciliations, and intercompany matching. Judgement items such as provisions and impairment stay with your team, though the supporting data is assembled for them.
Does it work for multi-entity groups?
Yes. Intercompany balances are matched across entities with differences identified rather than left to a manual comparison at quarter end, which is where most consolidation errors originate.
What happens to our close checklist?
It becomes explicit rather than tribal: the sequence, the owners, what is outstanding and what is blocking sign-off, all visible. That matters most in the first close after an experienced person leaves.
Will auditors accept the trail?
Every drafted entry carries its workings, and any figure traces back to the source document, which is a stronger position than a manual journal supported by a spreadsheet nobody can reproduce. Your accounting system remains the system of record.
More of the platform
Explore the rest of dexIQ.
Inbox Management
The front door: dexIQ reads and classifies every finance email the moment it arrives.
Accounts Payable
Capture, code, approve and pay, with ABN and GST checks on every invoice.
Accounts Receivable
Create customer invoices automatically and chase the payments, so you get paid faster.