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
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)
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
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
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
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
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