5 tips for a smooth year-end closing

The year-end closing is approaching, and it often marks a hectic period for the finance team. However, it doesn’t have to be so stressful. With the right approach – and perhaps some extra support – you can navigate this busy time with ease. Maïté Bertels, managing consultant at Recruitment specialist Robert Walters shares five practical tips to help relieve your finance department by enlisting the help of an interim finance professional.

1. Start early

Preparation is key, especially when it comes to the year-end closing. Early December is the perfect time to get everything underway, but a smooth closing actually begins much earlier. For example, plan intermediate closures in October and November to identify and correct any errors or discrepancies early on. Create an overview of invoices that are still due and anticipate those you need to issue yourself. Also, consider corrections in stock and costs that need to be carried over to the next financial year – these can be planned in advance.

Maïté: “Are you considering temporary support? November is an ideal time to conduct interviews and bring an interim finance professional on board. This allows your new colleague enough time to get up to speed, ensuring preparations in December can start smoothly.”

2. Delegate daily tasks

During the year-end closing, workloads can quickly pile up. In addition to regular tasks, there’s suddenly a lot of extra work to be done, which can lead to chaos and long working hours. An interim finance professional can ease the burden by taking over daily tasks such as:

• Posting invoices

• Processing bank transactions

• Preparing invoices for dispatch

• Following up on payments

“By delegating these tasks, your permanent team can fully focus on the year-end closing itself,” Maïté knows.

3. Opt for experience

Sometimes things don’t go as planned: a senior accountant may unexpectedly be unavailable due to illness or other circumstances, putting your year-end closing at risk. In such situations, it’s crucial to quickly bring in someone experienced.

“At Robert Walters, we see companies every year searching last-minute for an experienced finance professional to strengthen their team,” says Maïté. “While finding someone with the right expertise during this busy period can be challenging, our consultants are ready to assist you in quickly hiring a suitable interim accountant. This way, your year-end closing stays on track.”

4. Don’t overlook students

Students and recent graduates in finance can also provide valuable support during the busy December period. Although January is often exam season, there are always motivated students eager to gain work experience.

“The advantage of hiring students? They often already have solid foundational knowledge and are incredibly eager to learn. Their enthusiasm and fresh perspective can be a welcome addition to your team during this hectic time,” Maïté explains.

5. Plan ahead for January

“The financial year typically closes in January, meaning that month can also be particularly busy for your finance department. Consider keeping temporary reinforcements on board slightly longer than just December,” Maïté advises. “An interim finance professional can assist not only with wrapping up the old financial year but also with preparatory tasks for the new one.”

Finished earlier than expected? No problem: you can flexibly end the collaboration once all tasks are completed. This way, you only pay for the period when extra help was genuinely needed.

With these five tips, your year-end closing will be far less stressful – both for yourself and your team. Would you like more information about how we can support you with experienced interim finance professionals? Feel free to contact us or send us your vacancy; we’re happy to help!