Template
Monthly close checklist
Use this checklist to build a repeatable close cadence and reduce month-to-month surprises.
Tip: Print this page or save it as a PDF for your team.
Close basics
- Confirm the close window and cutoff rules for the month
- Collect outstanding receipts and missing documentation
- Confirm payroll for the period is recorded correctly
- Confirm sales and collections data is complete for the period
Reconciliations
- Reconcile bank accounts
- Reconcile credit cards
- Review uncleared transactions and investigate anything unusual
- Confirm transfers are categorized correctly
Balance sheet checks
- Review accounts receivable aging and identify stale items
- Review accounts payable aging and confirm what’s due
- Review loans and debt balances (principal vs interest coding)
- Review payroll liabilities and taxes payable
- Review inventory or prepaid expenses if applicable
- Review suspense and uncategorized accounts and clear them
Profit & loss checks
- Confirm revenue categories are consistent month to month
- Confirm major expense categories are consistent month to month
- Identify unusual transactions and document the why
- Review margins (gross and net) for changes and drivers
Reporting pack
- Finalize Profit & Loss and Balance Sheet
- Create a simple variance summary: what changed and why
- Update a small KPI snapshot
- Document open questions and follow-ups for next month
Founder review (10 minutes)
- What changed materially this month?
- What is the cash position telling us?
- Any margin compression or cost creep?
- Any AR/AP issues that threaten cash?
- Top 3 priorities for next month
Calm consistency beats reactive perfection.
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