Finance scenario: Reconcile financial data to accelerate period closing​

Download scenario guide
Available with: Microsoft 365 Copilot for Finance and Copilot Studio Scenario level:
Extend

KPIs impacted

Time to close

Reduce spending

Value benefit

Reduce costs

Using Copilot to reconcile financial data to accelerate period closing​


1. Generate formulas to clean data​

Aggregate sales invoice and payment data into an Excel spreadsheet, then use Copilot for guidance on how to standardize the data formatting.​

Excel icon

Copilot in Excel

Example prompt: Suggest formulas to standardize the data formatting, including removing trailing spaces and correcting capitalization.​

2. Reconcile accounts​

Use Copilot for Finance in Excel to streamline the reconciliation of accounts across customers and suppliers.​

Excel icon

Copilot in Excel

Copilot icon

Copilot for Finance (Preview)

Action: Open Copilot for Finance in Excel and select Reconcile data. Define the reconciliation vectors.​

3. Review discrepancies​

Review the Reconciliation Report transactions for any discrepancies.​

Excel icon

Copilot in Excel

Copilot icon

Copilot for Finance (Preview)

Example prompt: What are my top 3 product categories, by revenue, over the last 3 years?​

4. Generate report​

Copilot in Finance in Excel analyzes the reconciliation results and provides insights and suggestions for addressing inconsistencies in the report summary.​

Excel icon

Copilot in Excel

Copilot icon

Copilot for Finance (Preview)

Action: Select Include the summary in the report and click Save as PDF to save a downloadable version of the report summary. ​

5. Create knowledge agent​

Create a custom AI agent based on the reconciliation reports and financial statements for the period closing so that you can query to understand any discrepancies based on the latest status reports.​

Copilot Studio icon

Copilot Studio Agent

From Copilot Studio, create a new Copilot. Under the knowledge section, add the reconciliation report PDF from SharePoint.​

6. Share with the team​

Share the custom copilot in Teams so team members can ask the agent questions about the report.

Microsoft Teams icon

Copilot in Teams

Action: Open the configuration pan for the Microsoft Teams channel, select Open copilot, then add the custom agent as an app in Teams. Share the agent via a link with team members.

1Access Copilot at copilot.microsoft.com or the Microsoft Copilot mobile app and set toggle to “Web”.

2Access Business Chat at copilot.microsoft.com or the Microsoft Copilot mobile app and set toggle to “Web”.

3Copilot agents allow Microsoft 365 Copilot to access your company-specific apps. In the past, this would have required an API call to get data from a system of record. The content in this example scenario is for demonstration purposes only. You should evaluate how Copilot aligns with your organization’s business processes, regulatory requirements, and responsible AI principles.

The content in this example scenario is for demonstration purposes only. You should evaluate how Copilot aligns with your organization’s business processes, regulatory requirements, and responsible AI principles.