Monthly close

Run the month-end close checklist and draft variance commentary.

Month-end close is a long list of tasks with owners, and the variance commentary is written at the last minute. Hops tracks each close task, compares actuals to budget and drafts the commentary with the transactions behind each variance.

How it runs: Scheduled. An automation runs every weekday at 9am in the first week of the month, posts open close tasks and updates the close tracker Table. You can also ask Hops any time.

What it does

• Tracks every close task. Hops keeps the checklist from Space context with an owner and status for each task.
• Compares actuals to budget. It reads the ledger in QuickBooks, Xero or NetSuite and the budget in Google Sheets.
• Flags variances over 10%. Each one gets a line of commentary citing the transactions behind it.
• Lists what is still open. Each morning it names the tasks that are late or blocked and who owns them.
• Keeps the tracker current. The close tracker Table updates on every run.

Ask Hops

Copy a prompt into any chat with Hops, or mention @Hops in a Space.

Where are we on the September close?

Which close tasks are still open, and who owns them?

Compare September actuals to budget and flag variances over 10%.

Draft commentary for the software spend variance, citing the transactions.

What is blocking the close right now?

Example reply:

September close, day 3:

• 14 of 19 tasks done; bank reconciliation and accruals are open.
• Software is 18% over budget, driven by 3 annual renewals.
• Payroll liabilities are not reconciled; owner Priya Nair.

What you get

• An answer in chat, in the same thread, whenever you ask.
• A daily Slack post during close with the open tasks, owners and blockers.
• A close tracker Table in Tables of the Space, updated each run.
• A variance commentary Doc in Docs with one line per flagged variance.

Connections needed

Connect these apps. Each card opens Connections in the app.

QuickBooks

The ledger (or Xero or NetSuite).

Google Sheets

The budget to compare against.

Slack

Posts open close tasks to the finance channel.

Set it up

1. Create the Space

   Create a finance Space. Pin the close checklist and variance threshold in Space context.

   See Spaces and Space context.

2. Connect your apps

   Connect the apps above in Connections.

   See Connections.

3. Add the skill

   Give Hops these instructions:

   You run the monthly close. Track each close task with owner and status. Compare actuals to budget, flag variances over 10% and draft one line of commentary for each, citing the transactions behind it.
   

   See Build a skill.

4. Schedule it

   Every weekday at 9am in the first week of the month, Hops posts open close tasks to the finance channel, updates the close tracker Table and saves the commentary as a Doc.

   See Automation.