Free month-end close checklist
Ten steps from D-3 to D+5, each with the check that proves it is done. Day labels are working days relative to the month end (D0).
- D-3Agree the close calendar: every task has an owner, a due day and a reviewer.Check: No task without an owner.
- D-1Build the accruals list: goods received not invoiced, utilities, payroll, bonuses, interest.Check: Each accrual has a source document or a calculation.
- D0Lock the sub-ledgers (AR, AP, fixed assets, inventory) and run their period-end reports.Check: Report dates equal the month end.
- D+1Reconcile every bank account to the statement.Check: No reconciling item older than 30 days without an explanation.
- D+1Post the recurring entries: depreciation, amortisation, lease interest and depreciation, prepayment releases.Check: Each schedule's closing balance equals the ledger.
- D+2Agree intercompany balances with every counterparty and post the differences.Check: Receivable and payable pairs net to zero.
- D+2Tie out the trial balance: debits equal credits for every entity, and each sub-ledger equals its control account.Check: Differences within your tolerance.
- D+3Reconcile every balance sheet account with a balance; preparer and reviewer sign off.Check: No unsigned reconciliation.
- D+4Review flux month on month and against budget; comment every line above your thresholds.Check: No breach without a comment.
- D+5Produce the management pack: P&L, balance sheet and cash flow.Check: The cash flow ties to the movement in cash.
Get the PDF and the tie-out workbook
We email you the checklist as a PDF and a free trial balance tie-out workbook for one entity, with checks that show PASS or FAIL.
Closing more than one entity?
The Month-End Close and TB Tie-Out Kit ties out the trial balance to AR, AP, fixed assets and bank, reviews flux, tracks reconciliations and builds the management pack (steps 7 to 10), and tracks the other steps as calendar tasks, for up to 10 entities.