Month-end close can become significantly more complex when finance teams manage multiple companies, subsidiaries, locations, or other legal entities. Each entity may require reconciliations, accruals, intercompany entries, allocations, financial statements, and other closing activities before the organization can complete consolidated reporting.
When those companies are maintained in separate accounting systems or databases, finance teams may spend additional time switching between company files, reconciling intercompany balances, combining financial information in spreadsheets, and investigating discrepancies.
A faster multi-entity month-end close is not simply about completing tasks more quickly. It is about reducing manual processes, standardizing close procedures, improving financial visibility, and completing more accounting activity throughout the month.
Month-end close is one of several multi-entity accounting challenges CFOs and finance teams may need to address as their organizations grow.
Here are the capabilities and processes that can help finance teams streamline the month-end close across multiple entities.
How can finance teams speed up the multi-entity month-end close?
What makes the month-end close process so time-consuming is that it isn't just one or two tasks, but a whole list of items, including:
Keep accounts payable and receivable current
An important part of closing the books is making sure all of the money in accounts receivable has been received and the money in accounts payable has been paid. Holding open receivables and payables for late transactions places your entire close process in limbo. The best way to avoid this is to stay on top of invoices and expenses throughout the month. That can be easier said than done, as invoicing involves the unpredictable element of human behavior.
By automating elements of accounts payable and accounts receivable, including using AI-powered invoice processing, Gravity removes many of the manual steps in this process. With Gravity, you can:
- Automatically create an invoice from an opportunity, quote or sales order.
- Email or print the invoice with a few clicks.
- Process ACH and credit card payments directly within the software to make it easier for customers to pay on time.
- Automatically send billing reminders so your team doesn't have to waste their time with collections tasks.
- Automatically recognize recurring revenue in the correct month with revenue recognition.
- Bundle multiple cash receipts into a single deposit ticket for easier bank book reconciliation.
With Gravity Software's automated invoicing process, you can easily maintain your general ledger throughout the month instead of being surprised by missing payments at the end of the accounting period.
Automate intercompany transactions
While intercompany transactions can occur at any point in the month, they may be a prominent part of your accounting procedures if one company handles payroll for an entire multi-entity organization. Allocating payroll across entities in legacy software requires creating separate "due from" journal entries to record each company's share of the payroll, then logging into and out of the other companies' databases to create a "due to" entry in each one. All this manual data entry is time-consuming and prone to errors.
Multi-entity accounting software can reduce this work by automatically creating corresponding intercompany entries when transactions affect more than one company. Due-to and due-from activity can remain aligned across entities, reducing the manual reconciliation required during month-end close.
Manage fixed assets throughout the month
When your team is calculating depreciation for every company vehicle or piece of equipment at the end of each month, the term "fixed assets" probably seems like a misnomer since those numbers are anything but fixed. Managing your company's assets is even more chaotic if you have information in multiple places, using one software for your company's everyday accounting, another system for fixed asset management, and still another for managing other types of investments.
With Gravity’s fixed asset and investment management modules, you can track physical assets alongside other interests to create a single source of truth for all of your company's financial data. Here's how Gravity can support your team in managing fixed assets:
- You can transfer asset information to the Fixed Asset module at the same time as you enter purchasing information, allowing you to begin managing your asset from the moment you acquire it.
- You can keep multiple books corresponding with multiple tax scenarios.
- With the Microsoft Power Platform, you can access applications that streamline operations and further eliminate repetitive tasks. This gives your accounting and finance teams more time for tasks requiring their unique insight and expertise, such as calculating depreciation and complying with tax codes related to fixed assets.
- You can use Gravity’s multi-currency capabilities to automatically calculate realized and unrealized gains and losses for foreign investments.
Streamline bank reconciliation
Without the right technology, reconciling your bank books and credit card statements is one of the most tedious tasks on the month-end checklist. Pouring over statements from multiple bank accounts and comparing each and every transaction listed to the transactions you have in your records can take hours, requiring you or your team to stay late into the evening just to keep up.
If you're a multi-entity company with legacy accounting software that requires you to repeatedly log into and out of multiple databases, or if you're pulling statements from multiple sources, such as checks, bank websites, and email, this process becomes even more tedious.
"With all the time we’re saving on bank reconciliation, month-end close, and other routine tasks, we can do more financial analysis, budgeting, and providing valuable feedback to the company on strategic direction.”
— Tera Carpenter, VP of Finance & HR, Dr. Tavel Family Eye Care
Mastering account reconciliations is a breeze with Gravity Software's bank book management feature. With Gravity, you can:
- Set up automatic downloads of your transactions and view them side-by-side with the transactions recorded in Gravity.
- Automatically reconcile transactions with the same check number.
- Automatically categorize transactions with specific vendors or recurring monthly payments such as mortgages and insurance.
By automating bank transaction matching and bringing bank activity into the accounting environment, finance teams can reduce the manual work required for bank reconciliation and keep reconciliations more current throughout the month.
Automate multi-entity financial reporting
Preparing financial statements can become one of the most time-consuming parts of the month-end close when finance teams have to gather financial information from separate company files and manually combine it for reporting.
Multi-entity accounting software can simplify this process by allowing finance teams to generate entity-level and consolidated financial reports from a centralized accounting environment. Instead of repeatedly exporting and combining financial information in spreadsheets, teams can analyze individual companies, selected groups of entities, or the organization as a whole.
Automating the next step—report distribution—can further streamline the close. Finance teams can create predefined report packages for executives, boards, investors, lenders, or other stakeholders and securely deliver the appropriate financial information without manually assembling and emailing reports each reporting period.
Gravity Software's automated financial report distribution allows finance teams to create reusable report packages, select formats such as PDF or Excel, and distribute financial information to the appropriate stakeholders.
With financial information available throughout the month, finance teams can spend less time assembling reports at period-end and more time reviewing results, investigating variances, and providing financial insights to leadership.
How Dr. Tavel reduced month-end close from 30+ days to 10–15 days
For Dr. Tavel Family Eye Care, managing financial processes in its previous accounting environment contributed to a month-end close that took more than 30 days.
After implementing Gravity Software, Dr. Tavel reduced its month-end close to approximately 10–15 days within the first few months. The finance team also saved time on bank reconciliation and other routine accounting tasks, creating more time for financial analysis, budgeting, and strategic decision-making.
“With all the time we’re saving on bank reconciliation, month-end close, and other routine tasks, we can do more financial analysis, budgeting, and providing valuable feedback to the company on strategic direction.”
— Tera Carpenter, VP of Finance & HR, Dr. Tavel Family Eye Care
Read the Dr. Tavel Family Eye Care case study
How Gravity Software supports a smoother month-end close
Gravity Software helps multi-entity organizations streamline month-end close by bringing financial processes across companies into a centralized accounting environment. Finance teams can automate intercompany accounting, streamline bank reconciliation, manage financial activity across entities, and generate consolidated financial reports without relying on separate company databases and manual spreadsheet processes.
Built natively on the Microsoft Power Platform, Gravity connects financial operations with Microsoft technologies including Power BI, Power Automate, Microsoft 365, and Microsoft Copilot, helping finance teams automate routine processes and gain greater visibility throughout the accounting period.
Don’t let a slow month-end close hold back your team. See how Gravity Software can simplify your accounting—Schedule a demo today.
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Updated August 24, 2026