Free template
Month-end close checklist
36 close tasks across 8 account areas, from cash to sign-off. Assign owners and due workdays, track status as the close moves, and download the same list as an Excel template.
The checklist with owner, reviewer, due workday and status columns, a progress count, filters, and a sheet with the close steps in order.
Your progress is saved in this browser only. Nothing is sent to us.
Cash
0/4Reconcile each bank account to the month-end statement
Reconcile each credit card account and clear unmatched card transactions
Review outstanding checks and deposits in transit; investigate stale items
Record bank fees, interest and transfers not yet in the ledger
Revenue and accounts receivable
0/5Confirm all billable work, shipments and subscriptions for the month are invoiced
Apply customer payments and clear unapplied cash
Record deferred and unbilled revenue under your revenue recognition policy
Reconcile the AR aging to the general ledger
Review the allowance for credit losses and write-offs
Purchasing, accounts payable and expenses
0/5Post all supplier invoices received for the period
Accrue goods and services received but not yet invoiced
Process employee expense reports and card activity
Reconcile the AP aging to the general ledger
Review open purchase orders and received-not-invoiced balances
Payroll
0/4Record payroll and employer taxes for all pay runs in the month
Accrue wages earned but unpaid at month end
Accrue bonuses, commissions and paid time off under company policy
Reconcile payroll liability accounts to provider reports
Prepaids, fixed assets and leases
0/4Amortize prepaid expenses and reconcile to the prepaid schedule
Capitalize qualifying purchases and record disposals
Record depreciation and reconcile the fixed asset register to the GL
Record lease entries and reconcile lease balances to the lease schedule
Inventory (if applicable)
0/3Reconcile the inventory subledger to the general ledger
Review cost of goods sold and inventory adjustments
Review reserves for obsolete or slow-moving stock
Accruals, debt, equity and intercompany
0/5Record recurring accruals (utilities, professional fees, interest)
Reconcile debt balances and accrued interest to lender statements
Reconcile equity accounts to the cap table and board approvals
Agree intercompany balances between entities and record eliminations
Revalue foreign currency balances where required
Review, reporting and close-out
0/6Run flux analysis against prior month, prior year and budget; document explanations
Review manual journal entries for support and approval
Prepare the financial statements and management reports
Obtain reviewer sign-off on reconciliations and the financial statements
Lock the period in the general ledger
Note what slowed the close and fix it before next month
The close, in order
The checklist is grouped by account area. The work itself runs in this sequence:
- Set the close calendar. List each task with an owner, a reviewer and a due day relative to period end (for example, workday 1, 2 and 3). Publish it before the month ends so subledger owners, payroll and department heads know their cut-off dates.
- Cut off the period. Make sure revenue and expenses land in the month they belong to. Check shipments and deliveries around month end, goods received without an invoice, and invoices received after month end for goods or services received before it.
- Finish recording transactions. Complete billing and cash application, post supplier bills, record payroll, and capture card and expense report activity. Close the subledgers (AR, AP, inventory, fixed assets) so they can be tied to the general ledger.
- Record accruals and deferrals. Accrue expenses incurred but not yet billed (utilities, professional fees, wages earned after the last payroll, interest, bonuses) and defer or recognize revenue under your revenue policy. Keep the calculation and support with each entry.
- Reconcile cash. Reconcile each bank and card account to the statement. Investigate and clear reconciling items; anything outstanding should be explainable as timing, such as deposits in transit or uncleared checks.
- Reconcile the balance sheet. Tie each balance sheet account to independent support: AR and AP subledgers to the GL, prepaid and fixed asset schedules, accrued liabilities, debt to lender statements, intercompany balances to the other entity, and equity to the cap table and board approvals.
- Post adjusting entries. Record depreciation and amortization, prepaid expense releases, reclassifications found during reconciliation, foreign currency revaluation, and intercompany eliminations for consolidated entities.
- Review the numbers. Compare the income statement and balance sheet to the prior month, the same month last year and budget. Set thresholds for what needs an explanation and write the explanation down, with the transactions behind it.
- Report. Produce the financial statements and management reports, including any KPIs and budget-to-actual commentary the business relies on.
- Approve and lock the period. Have the controller or reviewer sign off, then lock the period in the ledger so later entries go to the open month or go through a documented reopen process.
The month-end close guide explains each step and how teams shorten the close. For the cash step, use the bank reconciliation template.
Month-end close checklist: questions
- What should a month-end close checklist include?
- Each recurring task that gets the ledger complete, reconciled and reviewed: cash and bank reconciliations, revenue and receivables, payables and accruals, payroll, prepaids and fixed assets, inventory if you carry it, debt, equity and intercompany balances, then review, reporting and locking the period. Each task needs an owner, a reviewer and a due day.
- What does WD mean on a close calendar?
- Workday. WD1 is the first business day after the period ends, WD2 the second, and so on. Due days written this way stay the same from month to month, whatever the calendar dates are. Use a negative number for work done before period end.
- Where is my progress saved?
- In this browser only, so it's still there when you come back on the same device. Nothing is sent to us. To share the checklist with your team, download the CSV or the Excel template.
- How do I adapt the checklist?
- Add tasks for the accounts specific to your business with the add link under each area, and mark tasks that don't apply as N/A so they don't count against progress. In the Excel template, insert rows inside the table and the progress formulas pick them up.