Start with the final output
Identify what must be reviewed and approved at the end of the close. Work backward from that output to the balances, reconciliations, and source inputs it depends on.
Name the handoffs
For each dependency, record the sender, receiver, expected timing, and evidence of completion. A shared spreadsheet can capture the first version; clarity matters more than the tool.
Record the exceptions
List the items that repeatedly arrive late or require manual adjustment. Capture one concrete example of each issue, including what was expected and what happened instead.
Test the smallest explanation
Check timing, definitions, permissions, and data completeness before assuming the whole process must change. Agree a bounded test and have the process owner validate the result.
Keep the evidence
Retain the finding, the decision, the change, and the acceptance result together. The next close is a chance to check whether the issue stayed resolved.