A clear, repeatable month-end close in Factorial removes surprises and speeds up posting to your accounting system. Below you have a short quick checklist to run each month, followed by detailed steps, recommended exports, reconciliation checks, common fixes, and sign-off items.

Quick checklist - one page view

• Set submission cutoff date for the period and communicate it.
• Ensure all expenses in the period have been submitted.
• Approve or request changes for any pending approvals.
• Confirm all receipts are attached and legible.
• Reconcile card transactions with Spending entries.
• Review out-of-policy expenses and exceptions.
• Apply missing accounting codes or project/cost center tags.
• Generate advanced expenses export for the period.
• Export General ledger from Accounting for posting to ERP.
• Generate payment files if you run reimbursements from Factorial (SEPA etc.).
• Import files into ERP, post journals, and reconcile totals.
• Archive exports and attach month-end notes to the close.
• Sign off the month and publish a short close summary.

Detailed month-end steps

1. Pre-close - set the rules
   • Announce a submission cutoff date - after this date expenses roll to next period.
   • Remind employees to submit outstanding expenses and attach receipts.
   • Remind approvers to clear pending requests before close.
      
2. Verify approvals and statuses
   • Go to Spending > Employee Expenses.
   • Filter by transaction date for the closing period and by status (pending, changes requested, approved).
   • For each pending expense, either approve or request changes. Do not leave items pending.
   • For “changes requested” items, confirm the employee has updated them.
      
3. Confirm receipts and documentation
   • Make sure receipts are attached for all expenses above your receipt threshold.
   • Spot-check a sample of receipts for legibility and matching amounts.
   • For missing receipts, request them or follow your exception policy.
      
4. Reconcile card transactions
   • Use the card transactions feed in Spending - Factorial-issued cards should sync automatically.
   • Compare card transactions to bank/card statements - match by amount, date, and card_last4 or transaction id.
   • Investigate unmatched card items and tag disputes or refunds where needed.
      
5. Handle exceptions and out-of-policy items
   • Filter the expenses view for out-of-policy and exceptions.
   • For each exception, either approve with justification, request more info, or mark for manual adjustment.
   • Log any exceptions you allow - include reason and approver in the expense comments for audit.
      
6. Apply accounting codes and cost centers
   • Ensure every approved expense that needs posting has an accounting_account_code, project_code or cost_center assigned.
   • Use bulk edits when possible, or ask teams to fill missing fields before the close.
   • If your integration expects specific labels, verify exported column labels match ERP field names.
      
7. Accruals and cut-off adjustments
   • Identify expenses incurred in the period but billed or submitted late.
   • Create manual accrual journal entries in your ERP or in an interim ledger if necessary.
   • Document accrual logic and amounts for audit trail.
      
8. Exporting data for posting
   • Export required expense and ledger data:
     • For transaction-level detail use Spending > Employee Expenses - either Export view after using Edit columns, or use Advanced export for custom columns, labels, and filters (three-dot menu top-right of the table).
     • For accounting-ready rows use Accounting > General ledger and its Export option - same advanced options as above.
     • For recurring or complex extracts consider a scheduled SQL Analytics report or the Public API to pull the data programmatically.
   • Choose file format your ERP supports - CSV UTF-8 or XLSX recommended.
      
9. Generate payment files
   • If you run reimbursements from Factorial, generate SEPA or bank payment files as configured.
   • Validate the payment file against bank format requirements before upload.
   • Record payment references in Factorial where applicable.
      
10. Post to ERP and reconcile totals
    • Import the General ledger export or the expense export into your ERP.
    • Post journals or supplier payments as required.
    • Reconcile total posted amounts with Factorial totals - compare base currency totals and individual account totals.
       
11. Post-close checks and audit trail
    • Re-run the Spending export for the period to confirm no late edits were made.
    • Save all exports and store them in your month-end folder - include a short close note explaining any manual adjustments or accruals.
    • Keep an audit log of who approved exceptions and why.
       
12. Sign-off and report
    • Finance manager signs off the close for the legal entity.
    • Publish a short close summary to stakeholders - totals, key exceptions, and any items carried forward.
       

Recommended exports and sample CSV header

Which export to use

• Quick list matching UI - use Export view after Edit columns in Spending > Employee Expenses.
• Accounting import - use Accounting > General ledger export for journal-ready rows.
• Complex or scheduled reporting - use SQL Analytics or the Public API.

Controls and reconciliation checks to run

• Total check - sum of exported expenses equals total posted in ERP for the period.
• Per-account check - amounts by accounting_account_code in Factorial match ERP postings.
• Card reconciliation - card statement totals match Factorial card transaction totals.
• Duplicate detection - check for identical amounts, dates, merchant and employee to catch duplicates.
• Missing accounting codes - list of approved expenses without accounting_account_code.
• Outstanding approvals - zero pending approvals in the period.

Permissions required

• Finance or Administration access to Spending and Accounting modules to run exports and view all details.
• Access to approval flows to test or reassign approvers where needed.
• API credentials if you automate exports.

Sign-off and retention

• Keep a month-end folder with: final exports, payment files, a short close note describing manual adjustments, and approval evidence for exceptions.
• Retention - follow your company or legal requirement for financial records retention. Common practice is 7 years, but confirm with local legal.