Every month a commercial building produces a pile of paper. Rent comes in. Bills arrive from the utility, the landscaper and the insurer. The bank statement lands. Someone has to turn that pile into a set of books and a report the owner can read. That work is the close. This post says what the close is when Komod runs it.
Komod reads the lease and the bill. The lease says what each tenant owes, when the rent steps up, and which building costs the tenant shares. The bill says who was owed, how much, and for what. Komod puts the two side by side. Where they agree, the line is ready. Where they do not, or where a figure is unclear, the line becomes a question.
A card waits on Approvals. Each card holds one decision. This bill is coded to this account. This deposit is this tenant's rent. This cost is shared with the tenants, or it is not. The card shows the source next to the proposal, so you can open the page of the lease or the bill it came from. Nothing on the card is hidden, and a card that asks a question cannot be approved until the question is answered.
The person clicks. A controller reads the card and approves it, changes it, or sends it back. Until that click nothing has been posted anywhere. After the click the entry is on the books and the report can carry it. That is the close. The work is the reading and the matching. The decision stays with a person.
Mail and the bank feed are pulled when the close runs, not watched continuously. When you start the close for a month, Komod reads the inbox you connected and the bank feed you connected. It brings in the bills and the deposits for that month. It does not sit on your inbox all day. If something arrives after the run, run the close again and it is picked up.
Komod is not the general ledger. Your books live in QuickBooks Online or QuickBooks Desktop. Komod prepares the entries, holds them for approval, and hands over only the approved ones. If an approved entry turns out to be wrong, it is reversed by a new entry that a person also approves. The books are never edited in place, and never by anyone but your team.
At the end of the run there is a monthly report with seven sections. It opens with a summary in plain words. Then come cash and account balances, the income for the month, the expenses, what came in and went out of the bank, the lease events and dates that matter, and a last section of exceptions and open items. Every figure in it links back to its source: a bank line, a bill, a page of a lease, or a calculation you can open and read.
The owner reads the report. The controller reads the cards. Both see the same numbers, because there is only one set. The owner can follow any figure to its source but cannot approve a card or post an entry. The people who run the close do that.
The close is finished when the queue is empty and the report is complete. Not when a timer runs out, and not when the software decides it has done enough. If a card is still open, the month is still open, and the report says so.
What you get, then, is not a dashboard to babysit. It is a queue of decisions, each one with its source attached, and a report that is done when the queue is empty. A card waits. A person clicks. That is the close.