Month-end close checklist template
Close the books on time every month. Reconciliations, journal entries and reviews follow a fixed order, ending with the controller's approval.
- 9 steps
- 2 approval steps
- Rename, reorder or remove any step
The 9 steps
- 1
Reconcile bank accounts
Match every bank and card transaction to the ledger.
- 2
Review payables and receivables
Check open bills and invoices, and chase overdue ones.
- 3
Accruals and prepayments
Record expenses and income in the right month.
- 4
Payroll entries
Post salaries, taxes and benefits.
- 5
Inventory count
Count and value stock, and adjust the books.
- 6
Trial balance review
Look for unusual balances and fix errors.
- 7
Manager review Approval
A finance manager reviews the close.
- 8
Controller approval Approval
The controller approves the month's numbers.
- 9
Issue financial statements
Share the P&L, balance sheet and cash flow.