Overview

Required plan

This feature is part of our product, Recurly Revenue Recognition Advanced. [Learn more here].

Definition

Month End Close is a formal process that finalizes all billing and financial data for a given period. It involves verifying, reconciling, and summarizing all invoices, credits, journal entries, and related reports to ensure that every transaction is accurately accounted for before transitioning to the next billing cycle.

Key details

• Automatic Month End Close: An automated process that executes a predefined checklist of tasks (both system-defined and custom) to ensure that all billing data is properly processed, synchronized, and transferred from Recurly to Revenue Recognition. This method minimizes manual intervention and reduces the risk of errors by automating critical reconciliation and data transfer steps. Learn more.
• Manual Month End Close:A process in which merchants review and manually complete each step required to close a billing period. This approach provides full control over validation and reconciliation, allowing merchants to address any discrepancies before finalizing the period. It is ideal for organizations that require a custom, hands-on process for data verification and adjustment. Learn more.