Month-End Close & Reconciliation Velocity

Castellan Financial Group • Period Ending Oct 31, 2024 • Day 4 of Close

Last Updated: Nov 4, 2024 10:15 AM
Close Cycle Duration
9.2 days
-1.3 vs prior
Task Completion (Day 4)
83%
Target 90%
Aged Recons (30+ days)
14 items
$218K exposure
Journal Entry Error Rate
3.8%
-0.9pp MoM
IC Elimination Complete
87%
On track
Avg Review Cycle Time
4.2 hrs
-1.1 hrs

Close Calendar Progress (Day 4 Snapshot)

Reconciliation Aging Heatmap

Account Class
Current
1-30 days
31-60 days
60+ days
Cash
2
4
2
3
AR
5
3
1
0
Fixed Assets
8
2
0
0
AP
6
2
1
0
Accruals
4
3
2
0
Equity
3
1
0
0

Total exposure in 60+ bucket: $218,340 (3 cash items, wire transfer reconciliation pending)

IC Elimination Status

US ↔ UK 100%
US ↔ APAC 92%
UK ↔ APAC 68%

Open items: 8 invoices pending GL coding in APAC entity ($47K). Expected resolution Day 5.

Overall Completeness
87%

Journal Entry Error Rate by Preparer

Balance Sheet Substantiation Coverage

Reconciliation Detail Register (High-Risk Items)

Account # Account Name Entity GL Balance Sub Balance Variance Age Preparer Status
1001-210 Cash - Operating USD US $4,218,540 $4,105,200 $113,340 68 days M. Chen In Review
1001-220 Cash - Operating GBP UK $1,842,100 $1,775,000 $67,100 62 days P. Williams Open
2100-115 Accrued Payroll US $328,450 $312,200 $16,250 45 days R. Gupta Open
1200-305 AR - Trade Receivables APAC $2,145,800 $2,132,400 $13,400 38 days L. Tan In Review
2400-108 Accrued Interest Expense US $89,240 $87,100 $2,140 33 days A. Silva In Review
1001-315 Cash - Payroll Account APAC $156,800 $142,900 $13,900 61 days M. Chen Open
2100-220 Accrued Commissions UK $74,520 $69,800 $4,720 42 days P. Williams In Review
1500-410 Prepaid Insurance US $42,100 $41,200 $900 15 days R. Gupta Resolved

Accruals Variance by Category (Oct Actuals vs. Sep Estimate)

Late Adjusting Entry Rate Trend

Close Duration Trend

Task Completion by Close Day

Prior Period Adjustments