The Continuous Close Engine
Closeloop replaces monthly batch reconciliations with an event-driven continuous ledger pipeline. By synchronizing transaction events directly with your general ledger, books remain perpetually balanced, variances are explained deterministically, and external audit workpapers are generated in real time.
From raw treasury event to audit-certified trial balance
Closeloop operates as a high-performance orchestration layer between your transactional subsystems, banking networks, and general ledger.
Bank Treasury Feeds
Subledger Clearing
Core General Ledger
Closeloop Graph Engine
In-memory relational joining of raw wires, remittances, exchange rate benchmarks, and subledgers with < 90 second clearance latency.
Reconciled Cash & AP/AR
Bilateral IC Eliminations
Audit-Certified Workpapers
Exception Resolution Workbench
Experience how Closeloop pinpoints subtle contract clauses and wire deductions, drafting complete adjusting journal entries for 1-click posting.
"2% 10, Net 30. Buyer entitled to 2% cash discount ($300.00) if paid within 10 days of invoice receipt."
| Account Code & Title | Debit (USD) | Credit (USD) |
|---|---|---|
| 2100-00 Accounts Payable | $15,000.00 | — |
| 1010-00 Operating Cash | — | $14,280.00 |
| 5190-00 Purchase Discounts Earned | — | $300.00 |
| 6240-00 Bank Wire Fees | — | $420.00 |
Continuous 3-Way Bank & Subledger Auto-Matching
Traditional month-end reconciliation treats cash matching as a discrete, manual task performed days after the accounting period ends. Closeloop streams bank statements and subledger entries into an active in-memory matching graph, resolving transactions within seconds of clearing.
Multi-Currency & Split Fee Resolution
E-commerce and SaaS companies frequently struggle with merchant gross-up calculations where payment processors deposit net amounts after deducting processing fees, interchange costs, and chargeback reserves. Closeloop automatically:
- Matches gross invoice totals against net cash receipts using metadata tokens.
- Splits merchant processing fees and posts offsetting entries to GL 6180-00 (Merchant Processing Expense) without manual journal prep.
- Handles multi-currency foreign exchange gains and losses (FX spot rate variance) under ASC 830.
Fuzzy Invoice Remittance Extraction
B2B customers often submit consolidated ACH or wire transfers covering multiple invoices, sometimes truncated or mislabeled in the bank description. Closeloop's remittance parser:
- Analyzes wire remittance text, customer names, and outstanding open AR aging reports.
- Identifies exact subset-sum combinations to match single wires against 5 to 50 open invoices.
- Flags partial payments and unrecorded cash discounts for immediate controller sign-off.
Deterministic Flux & Variance Explanations
Standard generative AI tools fail in corporate finance because they hallucinate explanations based on word frequency rather than accounting reality. Closeloop takes a strictly deterministic approach: our query engine computes the mathematical ground truth from the transaction graph before generating any natural language text.
| Architecture Stage | Legacy / Generic LLM Approach | Closeloop Deterministic Engine | Audit Defensibility |
|---|---|---|---|
| Data Retrieval | Scrapes trial balance summary numbers without underlying subledgers. | Performs deep relational joins across GL, AP invoices, POs, and CRM contracts. | 100% Traceable |
| Variance Attribution | Guesses causation (e.g. "marketing costs rose due to campaign push"). | Attributes exact dollar amounts to specific vendors, contracts, and headcounts. | Exact Dollars |
| Accounting Standards | Ignores technical standards like ASC 606, ASC 340-40, and ASC 842. | Evaluates amortizations, milestone revenue schedules, and lease liability shifts. | GAAP / IFRS Aligned |
| Memorandum Output | Generic paragraph easily challenged during PCAOB review. | Big Four-ready technical accounting memorandum with hyperlinked workpapers. | Auditor Certified |
Real-Time Bilateral Intercompany Elimination
For corporate structures operating multiple subsidiaries (e.g. US parent, UK tech subsidiary, DE manufacturing GmbH), intercompany reconciliation is the single most common cause of close delays. Closeloop synchronizes bilateral pairs in real time.
Bilateral Due-To / Due-From Mirroring
Whenever Subsidiary A books a shared-service recharge or management fee to Subsidiary B, Closeloop verifies that Subsidiary B has accrued the corresponding payable in the same period. If missing, Closeloop generates an automated counterparty journal alert.
Automated Elimination Journal Generation
At consolidation, Closeloop drafts the bilateral elimination entry (DR Intercompany Revenue / CR Intercompany Expense, DR Due-To / CR Due-From) so consolidated equity and net income are never distorted by internal transfer pricing.
Continuous Audit Trail & SOX 404 Readiness
Instead of spending three weeks after fiscal year-end pulling transaction samples and screenshotting approval workflows, Closeloop maintains an ongoing, immutable audit binder. External auditors can be granted direct read-only access to testing workpapers.
Segregation of Duties (SOD)
Closeloop enforces strict role-based authorization controls. The user who reviews a proposed journal entry cannot be the same user who posted the underlying transaction in the ERP. Every sign-off carries a cryptographic timestamp.
Direct Auditor Portal Access
Provide external audit teams with secure, time-bounded read-only tokens. Auditors can download complete sample binders, view reconciliation logic, and verify supporting invoice PDFs without pulling your accounting staff away from operational work.