Close Reports
Close Reports in Rillet provide a detailed view of your company’s financial position during the close process for a specific period. These reports help you validate balances, review revenue and expense timing, and confirm tax and compliance data before finalizing your books.
You can generate and review multiple Close Reports to ensure accuracy and completeness across your financial records before closing a period.
View Close Reports
You can access Close Reports from the Reporting section to review financial data for a selected accounting period.
To view a Close Report, follow these steps:
Go to Reporting > Close Reports.
Select the Close Report you want to review.
Choose the reporting date range.
Click Save Period to load the report data.
Once the period is saved, the report processes automatically and opens on screen for review.
Close Report Content
Each Close Report focuses on a specific aspect of your financial close. Reviewing the report content helps you confirm accuracy and identify issues before closing the period.
Trial Balance
The Trial Balance summarizes account balances at a specific point in time to validate the accuracy of the general ledger.
This report includes:
Account Name The name of each general ledger account.
Beginning Balance The account balance at the start of the period.
Debit and Credit Activity Transactions recorded during the period.
Ending Balance The balance at the end of the period.
Revenue Waterfall
The Revenue Waterfall visualizes how revenue moves from bookings to recognition over time.
This report shows:
Total Bookings The total revenue booked during the period.
Recognized Revenue Revenue recognized within the period.
Remaining Revenue Revenue that has not yet been recognized.
Deferred Revenue
The Deferred Revenue report tracks revenue received but not yet earned, helping you monitor outstanding customer obligations.
This report includes:
Deferred Revenue Amounts collected but not yet recognized.
Unbilled Revenue Earned revenue that has not yet been invoiced.
Usage Waterfall
The Usage Waterfall monitors customer usage trends over time to provide insight into consumption patterns.
This report displays:
Monthly Usage The amount of service or product usage recorded each month.
Prepaid Schedule
The Prepaid Schedule outlines prepaid expenses and their allocation across accounting periods.
This report includes:
Expense Date The original expense date.
Start and End Date The allocation period for the prepaid expense.
Total Expense The full prepaid amount being amortized.
General Ledger
The General Ledger report provides a detailed view of all financial transactions recorded during the selected period.
This report shows:
Account Entries Individual debit and credit transactions by account.
1099 Report
The 1099 Report summarizes payments made to contractors and non-employees to support tax compliance.
This report includes:
Vendor Name The recipient of the payment.
Transaction Details Descriptions, dates, and amounts of payments.
Sales Tax Report
The Sales Tax Report details sales tax collected by jurisdiction to support tax filing and compliance.
This report shows:
Country or Jurisdiction Where the tax was collected.
Transaction Details Transaction numbers, dates, and amounts.
VAT Report
The VAT Report tracks VAT activity by type and rate for accurate reporting.
This report includes:
VAT Types Standard, reduced, zero-rated, and reverse charge.
Transaction Details Tax rates and associated amounts.
Cash Reconciliation
The Cash Reconciliation report compares internal records with bank transactions to identify discrepancies.
This report displays:
Bank Transactions Transactions recorded by the bank.
Internal Transactions Transactions recorded in Rillet.
Discrepancies Any mismatches between the two records.
Billing Forecast
The Billing Forecast projects future billing and revenue to support financial planning.
This report includes:
Total Bookings Revenue booked from customers.
Invoiced Amount Revenue already billed.
Remaining Amount Unbilled revenue.
Monthly Billing Expected billing amounts for upcoming periods.
Depreciation Schedule
The Depreciation Schedule provides a detailed view of how fixed assets are depreciated over time during the close period. This report helps you validate depreciation expense, remaining asset value, and asset lifecycle timing before finalizing the period.
You can use this report to confirm that depreciation aligns with your fixed asset configuration and accounting policies.
This report displays:
Description The name or description of the fixed asset.
Identifier The internal identifier used to track the asset.
Start Date The date depreciation begins for the asset.
End Date The date depreciation ends based on the useful life.
Useful Life The depreciation period in months.
Total Cost The original capitalized cost of the asset.
Deletion Logs
The Deletion Logs report provides visibility into records that were deleted during the selected close period. This report supports audit, compliance, and internal controls by showing when deletions occurred and who performed them.
You can use this report to review data changes and ensure accountability during the close process.
This report shows:
Entry Name The name of the deleted record.
Entry Date The original creation date of the record.
Deleted At The date the record was deleted.
Deleted By The user who performed the deletion.
Customize Close Reports
You can customize Close Reports to better align them with your close workflow and review needs. Customization options vary by report type, so some settings may be available only for specific reports.
Customization options allow you to adjust:
Entity or Subsidiary Selection
Reporting Date Ranges
Report-Specific Filters
View and Layout Options
These options help you focus on the most relevant data while reviewing close activity and validating results before finalizing a period.
Export Close Reports
You can export Close Reports to share results with stakeholders or retain documentation for audits and compliance purposes.
Once a Close Report is displayed on the screen, you can export it directly.
Click Export.
The file downloads automatically to your device and is ready to use. A confirmation message appears when the export process completes successfully.
See Also
You can explore related reporting and close management articles here:
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