Six control accounts, checked against their own records
Before you close, Axon Suite sets each control account in the ledger against the records behind it. The close dashboard reads all six at once and says whether you are ready.
- Receivables
- Reconciled
- Payables
- Reconciled
- Inventory in the ledger
- 412,300.00
- Inventory valuation
- 411,950.00
- Difference
- 350.00
Held · Not ready to close: one account is out of balance
How the check runs
Pick a date
The dashboard reads every control account as at the day you choose, in the subsidiary’s books currency.
Ledger against records
Each ledger balance is set against its subledger, such as open invoices, open bills or stock valuation. A difference of 0.01 or more is out of balance.
Find the cause
The reconciliation view splits the ledger balance by the kind of document that posted it, and lists documents that never reached the ledger.
Ready to close
When every row reads reconciled, the dashboard says you are ready to close.
Details that matter
Six accounts in one view
Receivables, payables, inventory, goods received not invoiced, tax and cost of goods sold, side by side.
Split by source
The ledger balance is broken down by invoices, payments, receipts, issues and other sources, largest first.
Several ledger accounts
Where one control type maps to several accounts, each account’s balance is listed on its own.
Questions buyers ask
Which accounts are checked?
Receivables, payables, inventory, goods received not invoiced, tax and cost of goods sold.
Does a difference stop us closing?
No, the dashboard warns you. Closing a period is refused when journals are still drafts or its debits and credits differ.
Is it per company?
Yes. It runs for one subsidiary at a time, in that subsidiary’s books currency.