Month-end Overview with Teampay

At Teampay, we understand that closing your books is a necessary (and sometimes pretty painful) process. That is why we have dedicated a lot of our time to creating a product that helps you streamline this process. Helping you close the books faster saves you money and increases productivity for your accounting team.

To begin your Month-end using Teampay, you’ll want to navigate to your Teampay.co Dashboard:

1. On the transactions tab, you’ll want to review that all your prepaid expenses, fixed assets, and accruals transactions are coded to the correct balance sheet account. If you want to learn more about how to do this you can go here.
2. Your team can also review other transactions for completeness of categorization as well as identify transactions that still need a receipt to be uploaded
3. Teampay will notify Admins in Slack of any non-sync’d transactions, but filtering on  , you can troubleshoot any syncing issues.
4. Some Teampay customers accrue for material pending, non-sync’d transactions. Based on your internal accounting policy, determine if any transactions need to be manually created as accrued expenses (to be reversed next period, when the transaction clears and syncs).
5. Many of our customers also export transactions for a month to have a permanent record, like a credit card statement. To export, you’ll want to click this  on the top right-hand side of your screen. Once you select that it will prompt you to choose your date range. After you’ve finished selecting your desired dates we will send a link with your data over to slack or email.

By having the ability to organize and review all transactions by type and coding, Teampay makes finalizing your month-end close more efficient and accurate. You can easily export the transaction data in order to follow your own internal practice for managing your prepaid expense and depreciation.