Period End and Financial Close in ERP Training Course

Period End and Financial Close in ERP Training Course

Introduction

Efficient Period End and Financial Close processes are critical for ensuring accurate financial reporting, compliance, and operational efficiency in any organization. Period End and Financial Close in ERP Training Course finance professionals, accountants, and ERP users with advanced skills to streamline period-end activities, reduce closing time, and enhance data accuracy, automation, and audit readiness. Participants will gain practical knowledge on leveraging ERP systems to execute a smooth financial close while adhering to best practices and regulatory standards.

In today’s competitive business environment, organizations demand finance teams to be proactive, data-driven, and technology-savvy. This course emphasizes real-world application, covering journal entries, reconciliation, intercompany accounting, variance analysis, and reporting automation. By the end of the program, participants will master ERP-driven strategies to minimize errors, optimize workflows, and drive faster and more accurate period-end closings.

Course Duration

5 days

Course Objectives

By the end of this training, participants will be able to:

1. Streamline period-end closing processes using ERP automation tools.
2. Perform accurate financial reconciliations across multiple ledgers.
3. Implement journal entry automation and recurring transaction management.
4. Conduct variance analysis to identify discrepancies effectively.
5. Ensure regulatory compliance in financial reporting.
6. Optimize intercompany and multi-currency transactions in ERP.
7. Utilize real-time reporting dashboards for decision-making.
8. Minimize manual errors through ERP best practices.
9. Enhance audit readiness with standardized closing procedures.
10. Leverage workflow approvals for faster period-end processes.
11. Integrate subledger and general ledger data seamlessly.
12. Apply financial analytics to drive business insights.
13. Develop continuous improvement strategies for period-end efficiency.

Target Audience

1. Finance Managers & Controllers
2. ERP Finance Users
3. Accountants & Bookkeepers
4. Financial Analysts
5. Audit Professionals
6. CFOs & Finance Executives
7. ERP Consultants
8. Business Process Owners

Modules & Key Learnings

Module 1: Introduction to Period-End and Financial Close

• Overview of period-end closing in ERP systems
• Importance of timely and accurate financial reporting
• Key challenges and common errors in closing
• Best practices for planning and scheduling close activities
• Case Study: ERP period-end closing delays in a manufacturing company

Module 2: Journal Entries & Transaction Management

• Creating recurring and manual journal entries
• Automating transaction postings
• Adjusting entries for accruals and prepayments
• Reversals and corrections in ERP
• Case Study: Automation of recurring entries in SAP/Oracle

Module 3: Reconciliation Techniques

• General ledger vs subledger reconciliation
• Bank and cash reconciliations
• Intercompany reconciliation processes
• Handling suspense accounts
• Case Study: Reconciling multi-currency accounts

Module 4: Intercompany & Multi-Currency Accounting

• Managing intercompany transactions and eliminations
• Multi-currency accounting principles in ERP
• Foreign exchange variance handling
• Intercompany reconciliations and reporting
• Case Study: Consolidation in a multinational enterprise

Module 5: Variance Analysis & Reporting

• Identifying and analyzing account variances
• Tools for automated variance reporting
• Drill-down techniques for root cause analysis
• Integration with BI dashboards
• Case Study: Analyzing cost center variances in ERP

Module 6: Audit & Compliance in Financial Close

• Regulatory requirements and internal controls
• Audit trail setup in ERP
• Ensuring SOX/IFRS compliance
• Documentation and approval workflows
• Case Study: Preparing ERP data for external audits

Module 7: Automation & ERP Best Practices

• Leveraging ERP automation tools
• Reducing manual intervention and errors
• Workflow approvals and alerts
• Continuous monitoring and optimization
• Case Study: Implementing automated close cycle in Oracle Cloud

Module 8: Continuous Improvement & Analytics

• Performance metrics for period-end closing
• Identifying bottlenecks and inefficiencies
• Using analytics for predictive financial planning
• Reporting KPI dashboards in ERP
• Case Study: Transforming period-end close using Power BI

Training Methodology

This course employs a participatory and hands-on approach to ensure practical learning, including:

• Interactive lectures and presentations.
• Group discussions and brainstorming sessions.
• Hands-on exercises using real-world datasets.
• Role-playing and scenario-based simulations.
• Analysis of case studies to bridge theory and practice.
• Peer-to-peer learning and networking.
• Expert-led Q&A sessions.
• Continuous feedback and personalized guidance.

Register as a group from 3 participants for a Discount

Send us an email: info@datastatresearch.org or call +254724527104 

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

 We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.