What is a month-end close checklist?
A close checklist is the list of every task needed to close the books for a month, quarter or year, with an owner, a due day, a reviewer and the evidence required for each. It makes the close repeatable, shows progress and bottlenecks while it runs, and records who did and reviewed what.
Also calledmonth-end close checklistclose task listclose calendar
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- Each task has
- Owner, due day, reviewer
- Timed as
- Days after period end
- Also serves as
- Audit evidence of review
How a close checklist works
Tasks are grouped by area and ordered by dependency: cut-off of sales and purchases, sub-ledger close, bank and balance sheet reconciliations, accruals and prepayments, depreciation, payroll journals, intercompany, revenue adjustments, flux review and reporting. Each task has a due day, such as day 2 after period end, a preparer and a reviewer, and links to the reconciliation or journal that evidences it. Spreadsheets work for small teams but make status hard to see; close software tracks sign-offs, sends reminders and shows which tasks are late. Teams review the checklist after each close to remove steps, automate recurring ones and move work earlier in the month. FloQast, Numeric and BlackLine manage close checklists with sign-offs and links to the supporting work.
Common questions
What should a month-end close checklist include?+
Cut-off, sub-ledger close, bank and balance sheet reconciliations, accruals and prepayments, depreciation, payroll, intercompany, revenue adjustments, flux review and reporting, each with an owner and due day.
Is a spreadsheet good enough for a close checklist?+
For a small team, often. As the team and entity count grow, close software makes status, sign-offs and evidence easier to track and review.
How does a close checklist shorten the close?+
It shows dependencies and late tasks during the close and, reviewed afterwards, highlights steps to automate, remove or move before period end.
Close checklist software
Part of Accountio’s accounting technology coverage · Glossary
