Month-End Close Time Calculator
Benchmark your month-end close process, identify the biggest bottlenecks, and calculate the business value of a faster close.
The average mid-market company takes 6-10 business days to close the books each month. Best-in-class organizations close in 3-4 days. Every extra day means delayed reporting, reduced visibility, and more staff overtime. Our calculator helps you quantify the cost of your current close and the value of improvement.
How It Works
Enter the time your team spends on each phase of the month-end close. We calculate your total close time, identify bottlenecks, compare you to benchmarks, and estimate the business value of closing faster.
Input Your Data
Days for AP accruals and period cutoff
Days for bank and GL reconciliations
Days for recurring and adjusting entries
Days for intercompany reconciliation (0 if single entity)
Days for management review and report generation
Number of people dedicated to month-end close
Your Results
How We Calculate
Total Close Days = Sum of all phase durations. Staff Hours = Close Days × Staff × 8 hours. Annual Cost = Staff Hours × 12 × Average Hourly Rate. Best-in-class: 3-4 days, Average: 6-10 days.
Close the books faster
See how Nexus Audit automates AP accruals, reconciliations, and close checklists to cut days off your close.
Frequently Asked Questions
What is a good month-end close time?
Best-in-class organizations close in 3-4 business days. The average for mid-market companies is 6-10 days. If your close takes more than 10 days, there are significant improvement opportunities.
What causes the close to take so long?
The biggest delays are typically: waiting for late invoices and expense reports, manual reconciliation processes, intercompany transactions, chasing down supporting documentation, and management review bottlenecks.
How does AP automation speed up the close?
AP automation reduces close time by: eliminating late invoice backlogs through real-time processing, automating accrual calculations, providing pre-reconciled AP data, and maintaining continuous audit-ready documentation.
Related Tools
Related Use Cases
Related Terms
Quick Links
Ready to see your actual savings?
Get a personalized demo showing exactly how Nexus AP can transform your accounts payable.