Financial Close Process Playbook — Day −10 to Day −3

Stop saving everything for Day 0 (tea is allowed; panic isn’t).

The old way bunches work at the cliff-edge of Day 0: late intercompany surprises, ad-hoc FX packs, heroic journals, and status meetings about status. The new way spreads predictable steps across the ten days before close. You’ll use a light weekly rhythm, validate at load, and route exceptions to named owners with due times. By the end of this playbook, you’ll have a practical checklist, a simple 30–60–90 rollout, and talk tracks that align Finance, Ops, and Audit—so Day 0 becomes confirm-and-compile, not search-and-rescue (cape not included).

Day-in-the-life: before → after

Before: Entities sit on issues until Day 0; intercompany mismatches appear when time is gone; FX rates land by attachment; reviewers triage emails; the pack slips while everyone works late (heroics, not scalable).

After: A weekly rhythm pulls work forward. On Wednesday, entities run validations; Thursday hosts a 20-minute exceptions-only review; Friday clears aged items. Day −2 runs a dry-run consolidation; Day −1 confirms intercompany; Day 0 compiles. Same people, less drama.

So what? Early visibility converts surprises into small tasks with owners and due times.

Foundations & value pyramid

• Foundation — Clean inputs: governed TB template, mapping standards, stamped rate pack.
• Control — Visible workflow: tasks with owners/SLAs, validations at load, evidence on entry.
• Acceleration — Exceptions-only: cockpit shows what’s late, aged, or material (noise filtered).
• Assurance — Linked disclosures: numbers flow to notes; approvals leave a trail.

So what? Build from inputs upward; speed relies on clean foundations, not faster fire drills.

Pre-close checklist by day and owner (table)

So what? If it’s predictable, pre-close it; Day 0 is for confirmation, not discovery.

Before vs After: five practical switches

• From once-a-month sprint → weekly checkpoints with exceptions-only reporting.
• From inbox rates → a stamped pack with timestamp and archive (see currency translation guide).
• From IC cliffhanger → rolling confirmations and Day −1 settlement (see intercompany playbook).
• From late journals → recurring accrual models with evidence attached.
• From slide status → a live workflow cockpit with tasks, owners, SLAs.

So what? Make these switches and end-loading shrinks fast.

Pitfalls → fixes

Pitfall 1: Pre-close treated as “optional.”
Fix: Put it in the calendar with owners and SLAs; show it in the cockpit.

Pitfall 2: Validations that cry wolf.
Fix: Tier checks: hard fail (missing rate, unmapped code), soft warn (format); tune monthly.

Pitfall 3: Evidence scattered.
Fix: Attach proof to tasks and journals; if it isn’t in-tool, it didn’t happen (future-you approves).

Pitfall 4: One team carries the load.
Fix: Share responsibilities across entities and functions; publish the RACI and rotate reviewers.

Pitfall 5: Dry-runs that don’t mirror reality.
Fix: Use the same templates, rates, and mapping as Day 0; otherwise you’re rehearsing a different play.

So what? These guardrails keep pre-close valuable, not performative.

30–60–90 plan

Days 0–30 — Stabilise: Publish a pre-close checklist and a 20-minute exceptions review. Add simple validations to your TB template. Pilot with two entities and one region.

Days 31–60 — Streamline: Introduce a Day −2 dry-run consolidation and a Day −1 IC confirmation deadline. Wire the routine into your workflow cockpit. Connect the rate pack and CTA walk from the currency translation guide.

Days 61–90 — Scale: Roll out across entities. Add automated nudges for aged exceptions. Link pre-close outcomes to your disclosure management so narrative refreshes after the dry-run.

So what? Three sprints turn “we’ll fix it later” into “we fixed it last week.”

Real-world moments you’ll recognise

• Late shipment, early revenue: Cut-off test flags it pre-close; fix before Day 0.
• FX jump mid-week: Rate pack republishes with timestamp; dry-run shows impact; CTA note updates.
• IC pricing dispute: Ticket opened on Wednesday; owners attach rate card; true-up scheduled.
• “TEMP” account appears: Governance form blocks it; mapping updated or account retired.

So what? Most “gotchas” are visible earlier when you look earlier.

How CCH Tagetik Helps from Day −10 to Day −3

In the early close window, speed comes from consistency. A platform like CCH Tagetik turns your pre-close checklist into a visible, validated routine: entities load via a governed template, validations fire at entry, intercompany confirms on a schedule, and exceptions route to owners with timestamps. You still run the judgement calls; the system removes the scavenger hunt.

Day −10 to Day −3: where the platform accelerates

Close step	What changes in CCH Tagetik	Outcome
Entity TB submissions	Standard template + code/rate checks at load	Fewer re-uploads; clean data on Day −3
Intercompany matching	Counterparty match, owners, dispute lane	Breaks resolved pre-Day 0
FX rates & translation	Stamped rate pack; policy-driven methods	Predictable translation; explainable CTA
Journals & approvals	Standard types, required evidence, thresholds	Fast approvals; audit-ready trail
Close visibility	Cockpit tiles by entity/task with SLAs	Status meetings become status clicks

TB load

→

Validations

→

IC confirm

→

Journals & evidence

→

Dry-run (Day −2)

Practical tips:

• Publish the rate pack by Day −2 with a timestamp; block uploads that reference unstamped packs (see currency translation guide).
• Require attachments for accruals and intercompany true-ups; “no proof, no post” keeps Day 0 calm (see auditor-ready adjustments).
• Run a Day −2 dry-run consolidation and compare variance to final; surface gaps in the workflow cockpit.

So what? Configure the platform around your pre-close steps and Day 0 becomes confirm-and-compile—not a rescue mission.

Metric that matters

% of adjustments identified before Day 0 (target > 80%). Pair with variance between dry-run and final (absolute £/€/$ and count) and exceptions ageing > 3 days. When pre-close works, early-found adjustments rise, variance shrinks, and ageing falls. If the KPI stalls, check rate-pack timing, IC confirmations, and validation coverage first.

So what? What you finish early can’t derail the close later—measure early finish.

Make the close a flow, not a cliff.

Publish a weekly pre-close rhythm, run a Day −2 dry-run, and lock Day −1 intercompany confirmations. Tie the routine to your workflow cockpit and disclosure management. Within one cycle, Day 0 stops being a cliff and becomes a formality—pleasantly so.

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