Numeric is a comprehensive financial close software that helps accounting teams streamline and automate the month-end close process. Here are some key features and capabilities of Numeric:
Reconciliation Management
Automates account reconciliations by comparing general ledger balances with sub-ledgers to identify and resolve discrepancies.
Provides a centralized platform for tracking and managing reconciliations.
Journal Entry Tracking
Allows creating, reviewing, and approving journal entries within the software.
Ensures consistency and transparency in the journal entry process.
Task Management
Offers task management features tailored for accountants, such as creating checklists and assigning tasks to team members.
Tracks progress and ensures tasks are completed on time and in the correct sequence.
Reporting and Analytics
Generates detailed financial reports, including variance analysis (flux) reports.
Provides insights into the close process, highlights bottlenecks, and identifies areas for improvement.
Collaboration and Workflow
Enables team collaboration by assigning tasks, setting up notifications, and providing visibility into progress.
Adapts to organizational hierarchies and allows managers to review and approve tasks.
Integration Capabilities
Integrates with popular accounting software, ERPs, and tools like Slack for seamless data flow.
AI-Powered Features
Leverages AI to auto-generate flux explanations and policy documents, reducing manual effort.
Overall, Numeric aims to centralize and streamline the financial close process, automate repetitive tasks, enhance collaboration, and provide insights to improve efficiency and accuracy.
