Resource
Monthly bookkeeping checklist
Everything that should happen in your books every month, on one page.
Monthly Bookkeeping Checklist
A monthly bookkeeping checklist is the fixed sequence of reconciliation, review and close tasks that turns month-end from a search for problems into a confirmation that there aren't any.
This is the sequence we run for clients every month. Work through it in order — each step assumes the one before it is done — and the close stops producing surprises.
Reconcile
- Reconcile every bank, credit card and merchant account to statement
- Clear the suspense and uncategorised accounts to zero
- Reconcile the sales tax or VAT control account
- Reconcile payroll liabilities to the payroll journal
Review
- Match accounts payable to supplier statements
- Review aged receivables and flag anything over terms
- Reconcile stock or work in progress if you carry it
- Update the fixed asset register and post depreciation
Close
- Post accruals and prepayments for the period
- Review the P&L against prior period and explain movements over your threshold
- Produce the management accounts pack
- Lock the period so the closed month cannot move
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