Glossary
What is days to close?
Days to close is the number of business days it takes a finance team to finalize the books after period-end. For multi-channel brands the figure is dominated by reconciliation: the close cannot start until every channel's payout is reconciled, so unmatched settlements are usually why a close that should take days takes weeks.
The definition
Days to close explained
Days to close is the headline metric of finance velocity. Industry benchmarks put a two-to-three-day close as best-in-class, while half of finance teams still take more than a week. The difference for a commerce brand is rarely the journal entries themselves. It is the settlement reconciliation that has to finish before the close can even begin.
Shortening days to close means removing that bottleneck: reconciling each channel's payout as the files land, so the matched cash, isolated fees, and posted entries are ready when the period opens. When the close starts on time, leadership knows how the business did while there is still time to act on it, instead of finding out halfway through the following month.
Where this shows up at Altura
FAQ
Frequently asked question
See also
Related terms
Related terms that come up in the same workflows.
01
Month-end close automation
Month-end close automation converts the manual, repetitive parts of closing the books (reconciliations, evidence gathering, report rebuilds, exception reviews) into a governed, repeatable workflow in NetSuite. The goal is a close that ties out without needing explanation, with human sign-off retained where judgment and risk matter.
Read the definition02
Settlement reconciliation
Settlement reconciliation is the process of proving that each marketplace remittance statement and payout deposit matches the underlying orders, refunds, fees, reserves, and adjustments in NetSuite. It is not the statement itself. It is not the bank transfer event; it is the governed matching workflow that explains variances before finance posts the close.
Read the definition03
Net deposit
A net deposit is the single amount a marketplace or processor actually transfers to the bank after netting its fees, refunds, reserves, and adjustments against gross sales. Because it summarizes many transactions into one number, the net deposit is an input to reconciliation, not proof that the underlying activity has been matched or explained.
Read the definition04
Exception handling
Exception handling is the governed path an automated workflow follows when something does not fit the rules: a payout that will not match, a stuck order, an integration error. Instead of failing silently or forcing a person to hunt, the exception is classified, routed to the right owner with context, and resolved with human approval where it matters.
Read the definitionDealing with days to close in your operation?
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