Accrue CPA — Free Guide

Monthly Close Checklist

A step-by-step guide to a clean, consistent month-end close. Follow these steps in order to ensure your books are accurate, complete, and ready for decision-making.

Week 1 — Transaction Review

Ensure all bank and credit card transactions are imported and categorized.

Review uncategorized transactions and assign proper accounts.

Record any manual journal entries (depreciation, amortization, accruals).

Week 2 — Reconciliation

Reconcile every bank account to the penny against statements.

Reconcile all credit card accounts.

Reconcile loan and line of credit accounts; record interest expense.

Reconcile payroll liability accounts against payroll reports.

Week 3 — Review & Adjust

Review Accounts Receivable aging — follow up on overdue invoices.

Review Accounts Payable — confirm all bills are entered and dated correctly.

Review inventory valuation if applicable.

Confirm prepaid expenses are amortized correctly.

Week 4 — Reporting

Generate the three core statements: Profit & Loss, Balance Sheet, Cash Flow.

Compare actuals to budget; note significant variances.

Review the Balance Sheet for any negative balances or unusual account values.

Distribute financial reports to ownership and schedule a review call.

Accrue CPA — Proactive accounting, tax planning, and CFO advisory for growing businesses.

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