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Financial statement generation

Automatically generates standardized financial statements from client accounting data, including balance sheets and income statements, with automated review workflows and client delivery.

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Workflow Trigger

Client's monthly or quarterly period ends and books are marked as closed in the accounting system

Visual Flow

Each node represents an automated step. Connections show how data and decisions move through the workflow.

Step-by-Step Breakdown

Detailed explanation of each automated stage in the workflow.

  1. 1
    Trigger

    Period close detected

    System detects that client's accounting period has been closed and financial statements need to be generated.

    QuickBooksXero
  2. 2
    Action

    Extract trial balance data

    Pulls complete trial balance and general ledger data from client's accounting system for the closed period.

    QuickBooksXero
  3. 3
    Action

    Generate financial statements

    Creates standardized balance sheet, income statement, and cash flow statement using predefined templates and mapping rules.

    CCH Axcess
  4. 4
    Decision

    Check statement complexity

    Determines if statements require senior accountant review based on client size, transaction volume, or unusual account balances.

    CCH Axcess
  5. 5
    Action

    Route for review

    Assigns statements to appropriate reviewer based on complexity and creates review task with deadline.

    KarbonCanopy
  6. 6
    Action

    Apply final formatting

    Formats statements according to client preferences and firm standards, adds cover letters and notes.

    CCH Axcess
  7. 7
    Output

    Deliver to client

    Sends completed financial statements to client through secure portal and updates engagement status to complete.

    CanopyKarbon

Outputs

  • Formatted financial statements (Balance Sheet, Income Statement, Cash Flow)
  • Client delivery confirmation
  • Updated engagement tracking records

Key Metrics

  • Time from period close to statement delivery
  • Review cycle completion rate
  • Client statement accuracy rate

Tools & Integrations

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