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Closing & reporting: interim support

When the closing lacks capacity: hands-on support with monthly and annual closings under German GAAP (HGB) and IFRS, closely aligned with your head of accounting, tax adviser and auditors.

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Overview

When the closing is due and the team is short of capacity, things get tight fast. Loretta Schneiders supports your team hands-on with the closing work, from account reconciliations to reliable reports. Responsibility for the closing stays with your head of accounting, tax adviser and auditors. We make sure the groundwork is clean and on time.

Situations

Typical situations around closing and reporting

The year-end closing is coming up and the team lacks capacity because a position is vacant or day-to-day business takes up all the time.

Open items, unreconciled accounts and missing reconciliations make the closing slow and uncertain, while the tax adviser or auditors are waiting for documents.

Or reporting to management, the group or the bank needs to become more reliable and consistent.

Where we support the closing

01

Reconciling customer, supplier and general ledger accounts, clearing accounts and cleaning up open items.

02

Bank postings and closing work in receivables and payables.

03

Preparing documents and evidence for the tax adviser and auditors.

04

Contributing to monthly and annual closings under HGB and IFRS, aligned with the head of accounting.

05

Building reporting standards and meaningful reports.

06

Documenting the closing processes so the team can run them itself.

Your situation looks different? Talk to Loretta Schneiders directly.

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Services

Reference mandates with closing and reporting focus

01

Wabtec (Stemmann-Technik, PanTrac, Annax) · Interim Senior Finance Specialist

International receivables management with nine-figure volume and contribution to the monthly closing; reporting standards and best practices embedded in three companies.

02

Element Materials Technology · Interim Senior Accounting Specialist

Accounts payable for five German sites and contribution to monthly and annual closings under IFRS in a shared services context.

References

“She developed and implemented best practices that led to a significant improvement in financial transparency and accuracy.” (translated)
Interim Head of Finance, Stemmann-Technik (Wabtec)

Your contact

Your contact: Loretta Schneiders

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Loretta Schneiders

Managing Partner · Senior Interim Finance Leadership

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Why Loretta Schneiders

Loretta Schneiders knows closing work from hands-on practice in receivables, payables and the general ledger and works closely with heads of accounting, tax advisers and auditors. She brings structure to the groundwork and sees her role as supporting the team, not replacing responsibility for the closing.
  • More than 15 years of experience in finance and accounting.
  • Contribution to monthly and annual closings under HGB and IFRS; further training in HGB and IFRS accounting.
  • Receivables and payables management with nine-figure volumes.
  • Experience in SAP, Oracle, Dynamics 365, abas and DATEV.

More on this topic

More on this topic

Case study

Wabtec: finance standards embedded in three companies

Case study

Wabtec: finance standards embedded in three companies

Guide

Accounting without a head: the immediate stepsSpeeding up the month-end close: the key levers

Related services

Accounting Backlog Clean-upInterim Head of AccountingInterim Accounts Receivable

FAQ

Frequently asked questions: Financial Statements & Reporting

Which closing work does Loretta Schneiders support?

Loretta Schneiders works hands-on in the closing: reconciling customer, supplier and general ledger accounts, clearing accounts, bank postings, cleaning up open items in receivables and payables, and reports for management, banks and shareholders. This relieves the team exactly when capacity is tightest and makes sure deadlines are met.

Do you support closings under both HGB and IFRS?

Yes, operationally in both: Loretta Schneiders has contributed to monthly and annual closings under German GAAP (HGB) and IFRS, for example under IFRS in a shared services context at Element Materials Technology, and has recently completed further training in HGB and IFRS accounting. Accounting policy decisions, tax advice and the audit remain with management, the tax adviser and the auditor.

How is the closing prepared for the external audit?

The audit itself is the auditor’s job. We make sure the basis is right: reconciled customer, supplier and general ledger accounts, cleared open items, traceable bank postings and documented processes. That way, audit queries can be answered faster and more completely without the team dropping out of day-to-day work.

What if the head of accounting drops out shortly before the closing deadline?

Then what counts is someone who quickly sets priorities, relieves the team and supports the closing work. Loretta Schneiders can either support the closing work operationally or take on the role of interim head of accounting with functional and line management. It starts with a fast status check: what has been posted, what is open, which deadlines apply?

How do you embed uniform reporting standards across several entities?

By developing the standards from within the operational process and making them part of daily work, not just a guideline. At Wabtec, Loretta Schneiders introduced best practices and reporting standards in this way across three group companies with different ERP systems; the referee confirms a significant improvement in financial transparency and accuracy. More in the Wabtec case study.

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Contact

Closing coming up and the team short of capacity?

Briefly tell us where the closing is getting stuck. Loretta will get back to you personally and promptly.

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