AI for the month-end close
Ultramarine Work reconciles accounts, rolls forward schedules and writes flux commentary from the files in your close folder, and returns workpapers a reviewer can check against the source documents.
Oct-close-flux.xlsxExample| Account | Sep | Oct | Change | Explanation |
|---|---|---|---|---|
| 6100 Salaries | 1,284,500 | 1,402,100 | +9.2% | Nine hires started Oct 1, which agrees to the headcount roster. |
| 6420 Software | 212,300 | 248,900 | +17.2% | Annual CRM renewal expensed in full. |
| 2150 Accrued AP | 640,200 | 511,700 | −20.1% | Three September accruals were paid, and nothing new is over $25k. |
| 4000 Revenue | 8,902,000 | 9,118,400 | +2.4% | Two contracts went live mid-month, within forecast. |
NoteReclass $27,500 of the renewal to prepaid software (1450) and amortize over 12 months.
Ask it for
“Reconcile the October bank accounts to the GL and list every unmatched item over $500.”
Oct-bank-recs.xlsx“We signed two new office leases this month. Roll the lease schedule forward and draft the entries.”
ASC842-rollforward.xlsx“Write flux commentary for every P&L line that moved more than 10% and $50k.”
Oct-flux-commentary.docx“Tie out the 10-Q draft to the trial balance and mark every number that doesn’t agree.”
10-Q-tieout.pdf“The auditors’ PBC list came in. Build a tracker with owners, due dates and links to the supporting file for each.”
PBC-tracker.xlsx
Inside the Accounting & Close mode
Month-end close and reconciliations
Accruals, prepaids and cutoff entries with support, and bank and balance sheet recs that break out any items still open.
Fixed asset and lease accounting
Fixed asset registers and ASC 842 schedules: capitalization, depreciation, disposals, classification, ROU assets and lease modifications.
Inventory and cost accounting
Standard cost rolls and the variances they create, inventory roll-forwards, LCNRV testing, E&O reserves and count reconciliation.
Intercompany and consolidation
Rebalances intercompany accounts, drafts the elimination entries and calculates FX translation, and ties the consolidated trial balance across entities.
Revenue and contract cost schedules
Deferred revenue and contract asset roll-forwards, revenue waterfalls, RPO schedules and capitalized commission amortization under ASC 340-40.
Equity and stock comp accounting
ASC 718 expense schedules, award roll-forwards and equity account recs that agree to the cap table and award data.
Financial statement preparation
Monthly and year-end GAAP statements, indirect cash flows and footnotes, tied to the trial balance for lenders, owners or the audit.
SEC periodic reports and disclosure
Drafts and reviews the 10-K and 10-Q against Reg S-K and S-X, plus disclosure roll-forwards, XBRL tagging review and comment letter replies.
Tie-out and page-turn review
Circle-ups and page-turns of filings and banker books. Each figure ties to final support and exceptions are logged.
Earnings release and call script
Earnings releases and call scripts tied to the filed statements, with non-GAAP reconciliations under Reg G and safe harbor language.
Close variance and forecasting
Flux and variance analysis, rolling forecasts and board packs that show what moved against budget, forecast or the prior period.
Technical accounting memo
Position memos on revenue, leases, stock comp, debt, impairment and new ASUs, written to a conclusion and cited to the Codification.
Audit PBC and evidence requests
PBC trackers, sample files, system reports with their completeness and accuracy support, and proposed entries weighed against materiality.
Audit and ICFR documentation
Walkthrough memos, risk and control matrices, sample testing and exception evaluation for SOX and ICFR workpapers.
Vendor risk and SOC report review
Reviews a vendor’s SOC 1 or SOC 2 report for scope, opinion, exceptions, carve-outs, CUECs and bridge letters before you rely on it.
Credit underwriting and covenants
Credit memos, covenant tests and compliance certificates, built from the credit agreement’s actual terms and baskets.
Payables processing and controls
Catches the exceptions AP review looks for: three-way match failures, invoices paid twice, discount math and vendor bank details confirmed by phone.
Cash forecasting
Daily cash positions plus 13-week and 12-month forecasts, with payroll, tax and seasonal timing checked against actuals.
Sales and use tax
Nexus and registration questions, product taxability, exemption certificates, use tax accruals, exposure estimates and audit defense.
- Office skills
- Excel, Word, PowerPoint, PDF
- Tools
- Read, edit and write files, Search files, Run code, Search and read the web, View images
- Connectors
- SharePoint, Google Drive, Gmail, and additional custom connectors
- House style
- Your fonts, layouts and rules, on every file
How it works
- 1
Point it at the close folder
You keep the trial balance, bank statements, subledger exports and last month’s workpapers in the close folder, on your laptop or a shared drive.
- 2
Ask for the workpaper
It builds the reconciliation or schedule in Excel with live formulas, the source file named on every tab, and a note on anything it could not tie out.
- 3
Review and sign off
Every figure cites the file it came from, so you review support instead of rebuilding the schedule. You sign off and post the entries yourself.
Who it’s for
Corporate accounting teams at every level, from staff and GL accountants to controllers and chief accounting officers, including financial reporting, technical, revenue and cost accounting, in companies and nonprofits.
Questions
Can it follow our close checklist and workpaper format?
Yes, once the checklist and a past workpaper are in the folder and you ask it to match them. Its files then follow the tab layout, sign-off block and notation style it finds in the workpapers already there.
Which standards does it work under?
It works under US GAAP and IFRS. The mode has skills for revenue and contract cost schedules, leases, stock compensation, consolidation and SEC reporting, and technical memos cite the guidance behind each conclusion.
Can it help with the audit?
It organizes PBC requests, pulls support for samples from the folder, and drafts walkthrough memos and control documentation for ICFR. Your auditor still runs their own testing.
Where does our data go?
Ultramarine Work changes files only in the project’s folder. When a request needs it, it can read files elsewhere on your computer, never passwords, keys or app data, and you can turn that off in settings. The model runs on Paper Instruments’ servers, so the content it works on is sent there to be processed. Paper Instruments is SOC 2 Type II, and our security and compliance details are on our compliance page.