{"id":999980198,"date":"2026-03-06T15:25:48","date_gmt":"2026-03-06T08:25:48","guid":{"rendered":"https:\/\/bizzi.vn\/?p=999980198"},"modified":"2026-03-09T11:05:22","modified_gmt":"2026-03-09T04:05:22","slug":"accounting-records","status":"publish","type":"post","link":"https:\/\/bizzi.vn\/en\/accounting-records\/","title":{"rendered":"The 6-step book closing process: A roadmap from manual operation to AI-powered Fast Close."},"content":{"rendered":"<p><b>Accounting closing procedure<\/b><span style=\"font-weight: 400;\"> The Financial Close is a &quot;test&quot; of the finance department&#039;s data integrity. A standardized and automated 6-step process not only shortens the reporting cycle but also eliminates the risk of operational errors. At Bizzi, we help CFOs master the Record-to-Report (R2R) roadmap, transitioning from manual reconciliation to a modern Continuous Accounting system.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Index<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#Ban_chat_cua_quy_trinh_dong_so_ke_toan_trong_chu_ky_bao_cao_Record-to-Report\" >The nature of the accounting closing process in the Record-to-Report reporting cycle.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#He_thong_6_buoc_dong_so_ke_toan_toi_uu_giup_chuan_hoa_du_lieu_tai_chinh\" >The 6-step optimal accounting closing system helps standardize financial data.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#Buoc_1_Thu_thap_va_kiem_soat_tinh_hop_le_cua_chung_tu_bang_AI_Bot\" >Step 1: Collect and verify the validity of documents using an AI Bot.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#Buoc_2_Tu_dong_hoa_doi_chieu_so_du_ngan_hang_va_cong_no_Reconciliation\" >Step 2: Automate bank balance and accounts payable reconciliation (Reconciliation)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#Buoc_3_Thuc_hien_but_toan_dieu_chinh_va_trich_truoc_chi_phi_Accruals\" >Step 3: Perform adjusting entries and accrual expenses.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#Buoc_4_Ket_chuyen_doanh_thu_chi_phi_va_xac_dinh_loi_nhuan_rong\" >Step 4: Transfer revenue and expenses and determine net profit.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#Buoc_5_Soat_xet_du_lieu_tai_chinh_va_xac_thuc_Audit_Trail\" >Step 5: Review financial data and verify the Audit Trail.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#Buoc_6_Khoa_quyen_ghi_so_va_so_hoa_ho_so_luu_tru\" >Step 6: Lock access to the ledger and digitize the archived records.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#Chien_luoc_Fast_Close_rut_ngan_chu_ky_bao_cao_tu_15_ngay_xuong_3_ngay\" >The Fast Close strategy shortens the reporting cycle from 15 days to 3 days.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#1_Tai_thiet_ke_quy_trinh_khoa_so_cuoi_thang_theo_nguyen_tac_Continuous_Accounting\" >1. Redesign the end-of-month closing process according to the Continuous Accounting principle.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#2_Tu_dong_hoa_80_checklist_dong_so_ke_toan_bang_AI_RPA\" >2. Automate the 80% checklist for closing accounting books using AI &amp; RPA.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#3_Chuan_hoa_du_lieu_de_xay_dung_Single_Source_of_Truth_SSOT\" >3. Standardize data to build Single Source of Truth (SSOT)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#4_KPI_do_luong_hieu_qua_Fast_Close\" >4. KPIs for measuring Fast Close performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#5_So_sanh_thuc_te_Legacy_Close_vs_AI-driven_Fast_Close\" >5. Practical Comparison: Legacy Close vs. AI-Driven Fast Close<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#6_Tac_dong_chien_luoc_den_vai_tro_CFO\" >6. Strategic impacts on the CFO role<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#Giai_dap_cau_hoi_thuong_gap_ve_quy_trinh_dong_so_ke_toan_FAQ\" >Frequently Asked Questions (FAQ) about the accounting closing process<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/bizzi.vn\/en\/accounting-records\/#Ket_luan\" >Conclude<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Ban_chat_cua_quy_trinh_dong_so_ke_toan_trong_chu_ky_bao_cao_Record-to-Report\"><\/span><b>The nature of the accounting closing process in the Record-to-Report reporting cycle.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Accounting closing procedure<\/b><span style=\"font-weight: 400;\"> This is a periodic financial control cycle aimed at verifying, reconciling, and transferring all transactions to prepare financial statements. In the Record-to-Report (R2R) model, closing the books acts as a &quot;data cut-off,&quot; ensuring that transactions are recorded correctly and completely.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Essentially, this is the process of transforming raw data into auditable financial information. If closing the books is delayed, businesses experience &quot;decision lag.&quot; CFOs are unable to react in time to changes in cash flow, inventory, or operating expenses.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The risks are even greater when there are legal changes such as Circular 99\/2025\/TT-BTC. If the 2025 closing process is not standardized, discrepancies in opening balances could carry over into the following year, directly affecting tax obligations and the company&#039;s reputation. <\/span><span style=\"font-weight: 400;\">The key is not speed, but construction. <\/span><b>Single Source of Truth (SSOT)<\/b><span style=\"font-weight: 400;\"> \u2013 a single data source instead of fragmented Excel. This is the foundation for moving towards Fast Close.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To achieve this transparency, the finance department needs to implement the following closely linked six-step roadmap.<\/span><\/p>\n<figure id=\"attachment_999980199\" aria-describedby=\"caption-attachment-999980199\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-999980199 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan-1.png\" alt=\"accounting-code 3\" width=\"600\" height=\"350\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan-1.png 600w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan-1-300x175.png 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan-1-18x12.png 18w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><figcaption id=\"caption-attachment-999980199\" class=\"wp-caption-text\">The accounting closing process is a periodic financial control cycle aimed at verifying, reconciling, and transferring all transactions to prepare financial statements.<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"He_thong_6_buoc_dong_so_ke_toan_toi_uu_giup_chuan_hoa_du_lieu_tai_chinh\"><\/span><strong>The 6-step optimal accounting closing system helps standardize financial data.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Here is the 6-step process for closing accounting accounts:<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Buoc_1_Thu_thap_va_kiem_soat_tinh_hop_le_cua_chung_tu_bang_AI_Bot\"><\/span><strong>Step 1: Collect and verify the validity of documents using an AI Bot.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The first step of <\/span><b>accounting closing process<\/b><span style=\"font-weight: 400;\"> This involves collecting and reviewing all input\/output invoices generated during the period. The goal is to ensure that the documents are legal, valid, and match the purchase order (PO) or gross receipt (GRN). <\/span><span style=\"font-weight: 400;\">&quot;Junk input data will generate junk output reports.&quot; Late invoices, incorrect tax identification numbers, or incorrect supplier information are the leading causes of process delays.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CFOs can use the following metrics: <\/span><b>Data Integrity Rate (%) = Validated Invoices \/ Total Invoices<\/b><\/p>\n<p><span style=\"font-weight: 400;\">If this ratio is below 98%, the risk of an end-of-period adjustment is very high.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bizzi Bot automatically collects invoices from email and tax portals 24\/7. The AI checks over 12 validity criteria such as tax identification number, business operating status, and digital signature. Accountants have a &quot;clean&quot; data set immediately before moving on to the reconciliation stage.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Buoc_2_Tu_dong_hoa_doi_chieu_so_du_ngan_hang_va_cong_no_Reconciliation\"><\/span><strong>Step 2: Automate bank balance and accounts payable reconciliation (Reconciliation)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Reconciliation is the process of matching the general ledger with bank statements and verifying accounts receivable\/payable (AR\/AP) to detect missed or incorrectly recorded transactions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This step is crucial for determining the accuracy of Working Capital. Without strict control, duplicate payments or under-recording of revenue can occur.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the modern environment, reconciliation is no longer a periodic task but must be continuous. Three-way matching between invoices, purchase orders, and gross receipts eliminates the risk of incorrect payments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When using the Bizzi ARM application, the robot automatically retrieves bank data and matches transfer details with corresponding invoices. The time required for debt reconciliation can be shortened from weeks to just a few hours, significantly speeding up the closing process.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Buoc_3_Thuc_hien_but_toan_dieu_chinh_va_trich_truoc_chi_phi_Accruals\"><\/span><b>Step 3: Perform adjusting entries and accrual expenses.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The adjusting entry recognizes expenses incurred but not yet invoiced and allocates prepaid expenses, ensuring compliance with the Matching Principle.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If expenses for utilities like electricity, water, and salaries are not set aside, profits will be inflated. The CFO may make incorrect dividend distribution decisions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the same time, making excessively large accruals without a historical basis creates tax risks during tax settlement. The historical data-driven accruals method helps build estimates based on data from many previous periods, increasing persuasiveness during explanations.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Buoc_4_Ket_chuyen_doanh_thu_chi_phi_va_xac_dinh_loi_nhuan_rong\"><\/span><strong>Step 4: Transfer revenue and expenses and determine net profit.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The transfer is the process of locking intermediate accounts into the income statement account (Account 911). For a corporation, this is a step to eliminate internal transactions. <\/span><span style=\"font-weight: 400;\">This is the &quot;golden number&quot; that management is waiting for: the actual net profit\/loss. Errors at this stage directly affect the EPS figure and the company&#039;s valuation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">EPM automatically collects data from member units and processes internal exclusion entries. CFOs receive consolidated reports instantly, eliminating the risk of copy-pasting from Excel.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Buoc_5_Soat_xet_du_lieu_tai_chinh_va_xac_thuc_Audit_Trail\"><\/span><strong>Step 5: Review financial data and verify the Audit Trail.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The review aims to check the reasonableness of the changes against the budget and ensure that any adjustments have a clear Digital Audit Trail.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Key indicator: <\/span><b>Budget Utilization (%) = Actual Spend \/ Budgeted Amount<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The Digital Audit Trail helps listed companies maintain investor confidence. Every change leaves a trace: who did it, when, and why.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Buoc_6_Khoa_quyen_ghi_so_va_so_hoa_ho_so_luu_tru\"><\/span><strong>Step 6: Lock access to the ledger and digitize the archived records.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Closing the books is the process of blocking the ability to edit data from a closed period and archiving records for tax settlement purposes. <\/span><span style=\"font-weight: 400;\">Businesses must submit financial reports on time (90 days for the annual period). After publication, any arbitrary modifications carry potential legal risks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bizzi packages documents into individual electronic payment files, stores them in the cloud for 10 years, and allows CFOs to retrieve original invoices in just 30 seconds upon request for post-audit.<\/span><\/p>\n<figure id=\"attachment_999980201\" aria-describedby=\"caption-attachment-999980201\" style=\"width: 700px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-999980201 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan-3.jpg\" alt=\"accounting-code 3\" width=\"700\" height=\"400\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan-3.jpg 700w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan-3-300x171.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan-3-18x10.jpg 18w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><figcaption id=\"caption-attachment-999980201\" class=\"wp-caption-text\">The 6-step optimal accounting closing system helps standardize financial data.<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Chien_luoc_Fast_Close_rut_ngan_chu_ky_bao_cao_tu_15_ngay_xuong_3_ngay\"><\/span><b>The Fast Close strategy shortens the reporting cycle from 15 days to 3 days.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>What is the Fast Close process?<\/b><span style=\"font-weight: 400;\"> This is a complete restructuring method. <\/span><b>accounting closing process<\/b><span style=\"font-weight: 400;\"> Following the direction of automation and continuous accounting, the aim is to shorten the reporting cycle from 10\u201315 days to 3\u20135 days while still ensuring accuracy and auditability.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unlike the traditional approach \u2013 concentrating all the workload at the end of the period \u2013 Fast Close distributes tasks evenly throughout the month and applies <\/span><b>Financial close automation<\/b><span style=\"font-weight: 400;\"> To eliminate the 80% repetitive operation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For CFOs, the benefits go beyond simply &quot;closing the books faster,&quot; and include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce Decision Lag<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Improve working capital management.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Proactively control costs before exceeding the budget.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"1_Tai_thiet_ke_quy_trinh_khoa_so_cuoi_thang_theo_nguyen_tac_Continuous_Accounting\"><\/span><strong>1. Redesign the end-of-month closing process according to the Continuous Accounting principle.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In the traditional model, <\/span><b>end-of-month closing process<\/b><span style=\"font-weight: 400;\"> It usually happens as follows:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">First 5\u20137 days: Document collection<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Next 3\u20135 days: Reconcile bank statements and accounts payable.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Last 2\u20133 days: Adjustments, transfers, and reviews<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The sheer volume of work crammed into 10\u201315 days creates immense pressure and increases the likelihood of errors. Fast Close changes this logic by:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reconcile your bank statements daily instead of at the end of the month.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Automatically check invoices as soon as they are generated.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Update <a href=\"https:\/\/bizzi.vn\/bao-cao-quan-tri-chi-phi-cong-cu-kiem-soat-chi-phi-hieu-qua-cho-doanh\/\">cost management report<\/a> in real time<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Thus, by the final day, 70\u201380% of work had been completed. <\/span><b>Closing the accounting books<\/b><span style=\"font-weight: 400;\"> It&#039;s now just a confirmation process instead of a rush of processing.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Tu_dong_hoa_80_checklist_dong_so_ke_toan_bang_AI_RPA\"><\/span><strong>2. Automate the 80% checklist for closing accounting books using AI &amp; RPA.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">One of the key elements of Fast Close is conversion. <\/span><b>Checklist for closing accounting books<\/b><span style=\"font-weight: 400;\"> From manual to automated workflow.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a manual environment, a checklist typically includes:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Check the input invoices.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Compare the subsidiary ledger.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Review AR\/AP accounts receivable<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Make an accrual journal entry.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Transfer and print reports.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When implementing financial close automation:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The AI bot collects and verifies invoices as soon as they are generated.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Robot Reconciliation automatically reconciles bank accounts according to a schedule.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The accrual journal entry suggestion system is based on historical data.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The dashboard updates the status of each step in real-time.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The CFO doesn&#039;t need to wait for the accountant to report on progress; all statuses are displayed visually in real time.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Chuan_hoa_du_lieu_de_xay_dung_Single_Source_of_Truth_SSOT\"><\/span><strong>3. Standardize data to build Single Source of Truth (SSOT)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Fast Close is only successful when a business has a unified data source. If the data is scattered across multiple Excel files, shortening the cycle is impossible.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the modern Fast Close strategy:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Invoices, purchase orders (POs), and gross warrants (GRNs) are stored centrally.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The bank statement is automatically updated in the system.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Real-time consolidated multi-branch data<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Solutions like Bizzi Bot and Bizzi ARM help create a SSOT platform for the entire Record-to-Report cycle. <\/span><b>how to close the books <a href=\"https:\/\/bizzi.vn\/chung-tu-ke-toan-la-gi-cach-to-chuc-va-quan-ly-chung-tu-ke-toan\/\">accounting documents<\/a><\/b><span style=\"font-weight: 400;\"> No longer dependent on manual file collection.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_KPI_do_luong_hieu_qua_Fast_Close\"><\/span><strong>4. KPIs for measuring Fast Close performance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">To assess the success of Fast Close, the CFO needs to monitor the following metrics:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Days to Close (DTC)<\/b><span style=\"font-weight: 400;\"> = Number of days from the end of the period to the completion of the financial report.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Target: \u2264 5 days.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Automation Rate (%)<\/b><span style=\"font-weight: 400;\"> = Number of automated tasks \/ Total tasks in the bookkeeping closing process.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Target: \u2265 70%.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Reconciliation Completion Rate (%)<\/b><span style=\"font-weight: 400;\"> before the final day of the term.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Target: \u2265 95%.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When these metrics meet the standards, businesses not only shorten the time but also improve the quality of their data.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_So_sanh_thuc_te_Legacy_Close_vs_AI-driven_Fast_Close\"><\/span><strong>5. Practical Comparison: Legacy Close vs. AI-Driven Fast Close<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In the traditional model, the <\/span><b>How to close accounting books and documents<\/b><span style=\"font-weight: 400;\"> Dependent on staff, prone to data entry errors, and high end-of-term pressure.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With AI-driven Fast Close in the Bizzi ecosystem:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The invoice is checked for validity upon receipt.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">3-way matching happens automatically.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Consolidated report of multiple companies via EPM<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Instead of waiting until the 12th day to discover the accounts receivable discrepancy, the CFO can spot the error in the first week.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_Tac_dong_chien_luoc_den_vai_tro_CFO\"><\/span><strong>6. Strategic impacts on the CFO role<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Fast Close is more than just a technical improvement. <\/span><b>accounting closing process<\/b><span style=\"font-weight: 400;\">It shifts the role of the CFO from a &quot;data validator&quot; to a &quot;strategic leader&quot;.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When the report is completed in 3 days instead of 15 days:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cash flow is projected 10 days in advance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Timely budget adjustment decision<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tax risks and errors are discovered before filing the report.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This is the core value of financial close automation in the context of modern competition. <\/span><span style=\"font-weight: 400;\">To achieve a Fast Close, businesses cannot simply make one isolated change. <\/span><b>end-of-month closing process<\/b><span style=\"font-weight: 400;\">The entire chain, from document collection and reconciliation to transfer and archiving, needs to be restructured.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bizzi played a pivotal role in this process:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">AI Bot ensures clean input data.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">ARM Automation Reconciliation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">EPM integrates multidimensional reporting.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When the six steps of bookkeeping are integrated into a unified ecosystem, Fast Close is no longer a distant goal but becomes a real competitive advantage for businesses.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Operating criteria<\/b><\/td>\n<td><b>Traditional model (Legacy Close)<\/b><\/td>\n<td><b>AI-driven Fast Close (Bizzi Ecosystem)<\/b><\/td>\n<td><b>Strategic Impact (CFO Insight)<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Daily Closing Cycle (DTC)<\/b><\/td>\n<td><b>10-15 days.<\/b><span style=\"font-weight: 400;\"> This causes a &quot;decision lag.&quot;<\/span><\/td>\n<td><b>3-5 days.<\/b><span style=\"font-weight: 400;\"> Provides near-real-time financial reporting.<\/span><\/td>\n<td><b>Speed up administration:<\/b><span style=\"font-weight: 400;\"> Make business decisions based on real-time data, not &quot;post-mortem&quot; data.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Input data processing<\/b><\/td>\n<td><b>Crafts &amp; Fragmentation.<\/b><span style=\"font-weight: 400;\"> Data entry errors are common, leading to delays in collecting invoices\/documents.<\/span><\/td>\n<td><b>Automate 100% using AI.<\/b><span style=\"font-weight: 400;\"> Bizzi Bot automatically collects, checks taxes, and records them in the ERP system.<\/span><\/td>\n<td><b>Data Integrity:<\/b><span style=\"font-weight: 400;\"> Eliminate 99% human errors, reduce 80% manual workload.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Comparison &amp; Control<\/b><\/td>\n<td><b>Periodic.<\/b><span style=\"font-weight: 400;\"> Only reconcile accounts payable and bank accounts at the end of the month\/quarter.<\/span><\/td>\n<td><b>Continuous accounting.<\/b><span style=\"font-weight: 400;\"> The robot performs daily automatic reconciliation.<\/span><\/td>\n<td><b>Optimizing Working Capital:<\/b><span style=\"font-weight: 400;\"> Continuously manage cash flow and accounts receivable (AR), reducing the risk of bad debt.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Access &amp; Audit<\/b><\/td>\n<td><b>Data silos.<\/b><span style=\"font-weight: 400;\"> Finding difficulty in binding paper ledgers or disjointed Excel files.<\/span><\/td>\n<td><b>Single Source of Truth (SSOT).<\/b><span style=\"font-weight: 400;\"> Ability <\/span><b>Drill-down<\/b><span style=\"font-weight: 400;\"> Directly from the Dashboard to the original invoice.<\/span><\/td>\n<td><b>Ready for audit:<\/b><span style=\"font-weight: 400;\"> Making the audit trail transparent (Audit Trail), shortening the time for tax explanations and audits.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Consolidate reports<\/b><\/td>\n<td><b>Manual methods in Excel.<\/b><span style=\"font-weight: 400;\"> Risks of formula errors and difficulty in eliminating insider trading.<\/span><\/td>\n<td><b>Automation (EPM).<\/b><span style=\"font-weight: 400;\"> Automatically merge data across branches and exclude internal data.<\/span><\/td>\n<td><b>Corporate transparency:<\/b><span style=\"font-weight: 400;\"> The CFO can grasp the overall financial picture with just a few clicks.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<figure id=\"attachment_999980202\" aria-describedby=\"caption-attachment-999980202\" style=\"width: 1073px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-999980202 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan.png\" alt=\"accounting-code 3\" width=\"1073\" height=\"559\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan.png 1073w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan-300x156.png 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan-1024x533.png 1024w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan-768x400.png 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/dong-so-ke-toan-18x9.png 18w\" sizes=\"(max-width: 1073px) 100vw, 1073px\" \/><figcaption id=\"caption-attachment-999980202\" class=\"wp-caption-text\">The Fast Close process is a method that shortens the reporting cycle from 10\u201315 days to 3\u20135 days while maintaining accuracy and auditability.<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Giai_dap_cau_hoi_thuong_gap_ve_quy_trinh_dong_so_ke_toan_FAQ\"><\/span><strong>Frequently Asked Questions (FAQ) about the accounting closing process<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Below is a summary answering some questions related to the accounting closing process.<\/span><\/p>\n<p><b>What is the difference between closing the books monthly and closing the books annually?<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">Monthly closing serves for internal management reporting, while annual closing has high legal value, including asset inventory, provision for contingencies, and submission of financial reports to regulatory authorities.<\/span><\/p>\n<p><b>Does Fast Close reduce accuracy?<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">No. Fast Close relies on rule automation and AI, eliminating manual errors and increasing accuracy instead of decreasing it.<\/span><\/p>\n<p><b>Why is Excel no longer suitable for modern bookkeeping processes?<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">Excel lacks Audit Trail, is prone to formula errors, and does not guarantee centralized data security.<\/span><\/p>\n<p><b>Does Bizzi support 3-way matching?<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\">Yes. Bizzi automatically matches invoices \u2013 purchase orders (PO) \u2013 gross receipts (GRN) before allowing payment, reducing the risk of loss.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ket_luan\"><\/span><b>Conclude<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A standardized book closing process not only helps businesses comply with legal requirements but also creates a strategic competitive advantage. When the six steps are automated using AI and RPA, CFOs can transition from a traditional book closing model to Continuous Accounting and Fast Close.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bizzi acts as a bridge in this journey: from collecting documents using AI Bots, to automated reconciliation, to consolidating reports via <a href=\"https:\/\/bizzi.vn\/epm-la-gi\/\">EPM<\/a>When data becomes a Single Source of Truth, the finance department is no longer just a &quot;bookkeeping department,&quot; but becomes the strategic coordination center of the business.<\/span><\/p>\n<p><em><strong>To receive a one-on-one consultation on a customized solution for your business, schedule a demo here: <a href=\"https:\/\/bizzi.vn\/dang-ky-dung-thu\/\">https:\/\/bizzi.vn\/dang-ky-dung-thu\/<\/a><\/strong><\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>The financial closing process is a &quot;test&quot; of the data integrity of the finance department. A six-step process\u2026<\/p>","protected":false},"author":56,"featured_media":999980200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[54],"tags":[],"class_list":["post-999980198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-so-tay-ke-toan"],"acf":[],"_links":{"self":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999980198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/comments?post=999980198"}],"version-history":[{"count":1,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999980198\/revisions"}],"predecessor-version":[{"id":999980203,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999980198\/revisions\/999980203"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media\/999980200"}],"wp:attachment":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media?parent=999980198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/categories?post=999980198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/tags?post=999980198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}