A consistent month-end close gives you clean numbers, faster reports, and fewer surprises. Use this checklist to standardise the process.
1) Reconcile Everything
Bank accounts, credit cards, payment gateways, petty cash.
2) Review AR/AP
Chase overdue invoices, agree supplier balances, and schedule payments.
3) Post Accruals & Prepayments
Match income/expenses to the correct period (rent, insurance, retainers).
4) Inventory & Fixed Assets
Count stock variances; post depreciation and asset additions/disposals.
5) Management Pack
P&L, Balance Sheet, Cash Flow, commentary, and KPI snapshot.
The takeaway:
Same steps, same order, every month. That’s how you build reliable numbers you can act on.