Financial CloseFinancial Close software provides reconciliation management, tasks assignment and checklist to ensure an orderly financial close process.BlackLine1 (formerly Host Analytics)2 EPM Cloud3 Tagetik4 Financial Consolidation and Close Cloud6 Cognos Controller8 Edge9 Financial Close Management Suite10 Frontier Reconciliation11 CloudSuite Financials13

Financial Close Software

Financial Close Software Overview

What is Financial Close software?

“Financial close” is an accounting term used to describe the process of zeroing out the balance in nominal accounts, such as revenues and expenses, and updating the Retained Earnings account in the ledger to equal the end-of-period balance. The close is necessary to prepare these accounts for the next period's transactions. Financial close software, or accounting close software, assists businesses by providing ways to streamline the financial close cycle.

This software provides a more standardized and organized automation of the processes that controllers and accountants are responsible for at month-end close. This helps reduce workflow and allows for a more accurate close. With the more repetitive tasks out of the way, users are able to focus on more high-risk reconciliations. Financial close software also allows for greater transparency and collaboration within the accounting team with real-time dashboards and individual checklists.

Common Features

Most vendors offering financial close software include:

  • Spreadsheet integrations

  • Integration with accounting software

  • Checklist creation

  • Individual tasks lists

  • Task assignment

  • Financial close process timeline

  • Reconciliation management tools

  • Historical records of past close data

Additional Tools

Some vendors also offer additional capabilities such as:

  • Payroll integration

  • Role-based permissions

  • Sales forecasting

Pricing Information

Vendors offering financial close software do not usually offer a free trial due to the time constraints of the accounting cycle. The cost of the products can vary between $125 - $200 per month per user with licenses for individual users for SMBs. Enterprise level plans that come with multiple user licenses for multiple locations are typically more expensive. Price quotes for these larger plan can be requested from vendors.

Financial Close Products

Listings (1-13 of 13)


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82 Ratings

BlackLine automates the the processes required to finalize periodic closing of the books. Beyond close/reconciliation management the product includes capabilities to enhance the management and control of financial processes throughout the accounting cycle.

Oracle EPM Cloud

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162 Ratings

Oracle’s complete EPM suite gives you the agility you need to respond to change faster, promises the vendor. Combined with the innovation and simplicity of the cloud, it enables companies of any size to drive accurate and agile plans across finance and operational lines of business, accelerate fina…

37 Ratings

Tagetik is a corporate performance management solution that unifies budgeting, financial planning, consolidation and management reporting. Tagetik is offered as SaaS, on a private cloud, or on-premise, and can migrate between deployments as needed.

11 Ratings

FloQast in Sherman Oaks offers their financial close software to streamline accounting month end close, simply providing automation around reconciliation and eliminating human error, and visibility via a close status dashboard, as well as providing a complete audit trail.

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Scottish company AutoRek offers their flagship automated financial reconciliation application, touting 99% automation of the reconciliation process with management information tools, escalation workflow, and automated auditable reporting.

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IBM Cognos Controller is a cloud-based financial close management software which provides automated and assisted reporting to the reconciliation process, rule and process defining, with automated intercompany eliminations, allocations, currency conversion, and support for extended financial close.

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E*TRADE offers Equity Edge, the company's stock plan administration application which features sandbox modeling and automated accounting and recordkeeping.

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Trintech now supports Adra and Adra's modular Financial Close Management Suite, which includes the Task Manager task generation and monitoring application, the Balancer balance sheet account reconciliation application, the Accounts matching module for intercompany, bank and interim accounts, and fi…

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Fiserv headquartered in Wisconsin offers Frontier Reconciliation, an automated account reconciliation platform for transactions and financial instruments, designed to provide improved operational efficiency as well as reduce probability of error in financial reporting.

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Cadency is an automated financial close solution that combines all Record to Report activities into a single, seamless process. Cadency’s Financial Close software spans across all R2R activities — Certification (account reconciliation), Compliance and Journal Entry — with the goal of preventing “whi…

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Infor CloudSuite Financials is a cloud-delivered financial suite including general ledger, close management, real-time visibility into customer billing and intercompany billing, reconciliation management and lease accounting, asset accounting and cash management, and extensibility with Infor Treasur…