NetClose - Tasks Overview

Overview

Effective task management is a critical component of the financial close process. A centralized and well-defined set of tasks provides better visibility into resource allocation across month-end, quarterly, and annual close activities. While individual team members may maintain their own checklists, the absence of a centralized task framework can hinder management’s ability to monitor progress, evaluate task completion, and ensure that activities are performed efficiently and accurately. 

NetClose Tasks offers a centralized checklist for managing month-end close activities—or any other business processes. It enables tracking of task completion status, time spent on individual tasks, and task ownership. This centralized visibility supports a more effective and efficient close process while also providing task preparers with a clear view of their assigned responsibilities.

Additionally, the Tasks module in NetClose facilitates communication between task preparers and reviewers. Each task includes a space for notes, allowing for context and updates to be documented. Email notifications can be configured to alert users when they are assigned new tasks or when updates are made to existing ones. Task steps can also be defined to standardize processes, ensuring consistency in execution—even if task ownership changes over time.

Below are key capabilities of NetClose Tasks, along with links to additional resources that explain how to leverage these features to support a more efficient and effective close process:

• Generate Monthly Tasks
• Create Task Dependencies
• Create Steps for Tasks
• Assign Preparers and Reviewers
• Assign Task Classifications
• Assign Due Dates (Relative or Absolute)
• Set Up Non-Working Day Calendars
• Set Up Email Notifications for Tasks (Standard or Custom)