Monthly Close Checklist Template

Reconcile accounts, review financials, and close the books with a structured month-end process.

This free operations checklist template includes 6 tasks organized into 2 sections. Use it to streamline your monthly close process.

Reconciliation

  1. Reconcile bank statements

    Match all bank transactions against the general ledger. Investigate and resolve any discrepancies before proceeding.

    • Statement Period End Date (required)
    • Unreconciled Difference (required)

  2. Review outstanding invoices

    Review all open accounts receivable and accounts payable invoices. Flag anything overdue or disputed for follow-up.

    • Total Outstanding AR (required)
    • Total Outstanding AP (required)
    • Disputed or Overdue Items

  3. Close sub-ledgers

    Close out all sub-ledgers including payroll, fixed assets, and inventory. Ensure all entries have been posted to the general ledger.

    • Sub-Ledgers Closed (required) — Options: Payroll, Fixed Assets, Inventory, Prepaid Expenses, Accrued Liabilities

Reporting & Approval

  1. Prepare financial statements

    Generate the income statement, balance sheet, and cash flow statement for the period. Include variance analysis against budget.

    • Reporting Period (required) — Options: January, February, March, April, May, June, July, August, September, October, November, December
    • Variance Notes

  2. Management review

    Present the financial statements to management for review. Address any questions and obtain sign-off before finalizing.

    • Reviewed By (required)
    • Approval Status (required) — Options: Approved, Approved with Changes, Needs Revision

  3. Archive and file

    Save all finalized reports, reconciliations, and supporting documents to the shared drive. Lock the period in the accounting system.

    • Date Archived (required)
    • Archive Location