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Month-end close and the ledger

Month-end close for every entity, in 5 days.

Spacetil posts transactions as they happen, reconciles every bank and card account, eliminates intercompany balances and prepares the close package for all your entities. Your Spacetil accounting team reviews every reconciliation, and your Spacetil Financial Controller signs off.

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Spacetil is the AI-native ERP for multi-unit operators, built for franchise groups and multi-location businesses with 10 or more units: software plus a Spacetil accounting team, $350 per location per month.

October close
43 locations · 4 entities
  • Entity 1 · 12 stores100% reconciled
  • Entity 2 · 9 stores100% reconciled
  • Entity 3 · 14 stores100% reconciled
  • Entity 4 · 8 stores72% reconciled
  • Intercompany eliminations48% reconciled
Entities 1 to 3 signed off by your Financial Controller

Illustrative view of month-end close in Spacetil.

How long does month-end close take for a franchise group?

With Spacetil, five days. Bank, card and clearing accounts are reconciled daily, intercompany is eliminated across every entity, and the close package is prepared as the month runs. A Spacetil accountant reviews every reconciliation, and your Financial Controller signs off each entity before the books are final.

What Spacetil does here.

And what your Spacetil accounting team does

Your Spacetil accounting team reviews every reconciliation and exception, approves unusual entries, and your Financial Controller signs off every close before it is final.

Meet the accountants
Posts transactions as they land
Activity from every connected system is coded to your chart of accounts, using how your team coded the same thing last time.
Reconciles every account, daily
Bank, card and clearing accounts are matched every day, so by the 31st there is little left to reconcile.
Consolidates all entities
Intercompany eliminations and rollups run automatically across every entity and location.
Prepares the close package
Trial balance, reconciliations, variance notes and backup, ready for your Financial Controller on day four.
Keeps an audit trail
Every posting carries its source document, its rule and who approved it, so auditors can trace any number.

Before and after.

Bank reconciliationsBefore · Done once a month, per entity, by handWith Spacetil · Matched daily across every account
IntercompanyBefore · Spreadsheets and late-night eliminationsWith Spacetil · Eliminated automatically at close
Close packageBefore · Assembled after month-endWith Spacetil · Ready for sign-off by day 5

The systems you already run.

  • NetSuite
  • QuickBooks
  • Sage
  • Oracle Cloud
  • Chase
  • American Express
  • Plaid
All integrations

Questions

Do we still need QuickBooks or another accounting system?
No. Spacetil keeps your books, so there is no separate accounting software to buy or run. If you want to keep yours, Spacetil syncs both ways with QuickBooks Online, QuickBooks Desktop, NetSuite, Sage, Oracle Cloud and SAP.
Who signs off the close?
A Spacetil Financial Controller assigned to your account. The books are not final until they approve them.
How does it handle new entities or locations?
A new entity is added to the same rules and chart of accounts and closes with the rest the following month.
What happens to transactions it is not sure about?
They go to an exceptions queue with a suggested treatment. Your Spacetil accounting team decides, and Spacetil learns from that decision.

Guides: What is franchise accounting for multi-unit franchisees? · How does a 10+ location franchise group close the month across many LLCs in 5 days?

Works alongside

See month-end close on systems like yours.

We'll walk through it on the POS, banks and ledger your locations run, with the accountants who would review the work.

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