Month-end close with Cube

After the accounting team finishes closing the books, it’s time to update your financial statements.

Cube makes preparing your month-end closing package easy by following the steps below.

1. Update source data

Because Cube maintains your data rules for consolidation and mappings, the first step is to log in to Cube to update any new accounts that may have been added in the past month.

Click on Integreations in your Cube Workspace to get started.

1. Re-sync the connection.
2. Map new accounts to Cube Dimensions.
3. Import the past month.

Learn how to update source data.

2. Tie out the data

Compare the month in the system source to the Cube to capture discrepancies and ensure accuracy. If this is your first time doing this with Cube, see our article on how to tie out data.

Sometimes discrepancies may lie in formulas; while most will automatically update, others may need to be recalculated. Learn how to recalculate a Formula.

3. Make changes

When the data is tied out, compare the budgeted/forecasted plan to what actually happened by fetching it to your spreadsheet. 

If your plans, tables, or dimension members need to be changed, update the values and Publish the data back to your Cube. 

See how to publish data to Cube for detailed support.

4. Update forecast(s)

You can also easily update any related forecasts to account for changes. For example, if planned expenses change, you'd want to update your rolling forecast.

1. From the Workspace, select Dimensions and then the Scenario tab.
2. Click Merge Scenarios to overwrite existing values with your actuals data. 

If you're tracking historical forecasts, duplicate your Scenario first. 

5. Finalize month-end close package

Now that you have everything ready to go, you're ready to package and share your updated financials.

If you have decks that include forecasts, update them to show the changes and drivers behind them. 

Or save a dynamic report to use in Cube:

1. From the Spreadsheet App, under Publish, select Web Report. Name your report and set up sharing, then click Create Web Report. Learn more about creating and sharing reports.  
2. Share the report in Cube so it always contains fresh data, or embed your workbook in your presentation.