Closing Cockpit

 Month-end activities are critical for organizations as they involve the closure of financial books, preparation of financial statements, and various reconciliations. Business was struggle with completing financial close processes within a limited timeframe, heavily depended on manual processes for task such as data entry, reconciliation. There was inadequate communication between accounting and other departments also business struggling to ensure that financial statements adhere to accounting standards and regulations, adding complexity to the close process.

We proposed Financial Closing Cockpit which is a tool within the SAP ERP system designed to streamline and automate the financial close process. It offers a centralized platform that helps businesses complete month-end activities effectively by providing enhanced visibility, control, and automation.

Financial Closing cockpit supports in planning, executing, monitoring, and analyzing financial closing tasks for the entities 

 Financial Closing Cockpit can be used in following cases: 

• Activities recur periodically (monthly/yearly)
• Communicating with multiple departments
• Activities that has fixed chronological sequence or is determined by dependencies.
• The status of all periodic activities needs to be documented and made available for everyone involved.

1. Hierarchies for displaying the organizational objects involved in the closing gprocess
2. Templates that portray the organizational structure
3. Characteristic values of the organizational levels used in a template
4. Display task List
5. Details about the attributes of tasks and for analyzing background programs (spool, job log, and so on)
6. Dependencies that define the prerequisites for processing a task
7. Connection options for connecting to external schedulers via Business Automation Enabler