Month-End Accounting & Reporting Checklist

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## Month-End Accounting & Reporting Checklist



### 1. Pre-Close Activities

* [ ] Communicate month-end close schedule to team
* [ ] Ensure all transactions are recorded up to the cut-off date
* [ ] Notify departments of pending expense submissions
* [ ] Check for any unposted or pending entries in ERP/accounting software

### 2. Accounts Receivable

* [ ] Record all customer invoices issued
* [ ] Apply all customer payments received
* [ ] Follow up on outstanding receivables
* [ ] Reconcile AR sub-ledger to general ledger
* [ ] Review aged receivables report for overdue accounts

### 3. Accounts Payable

* [ ] Enter all vendor invoices received
* [ ] Process payments due
* [ ] Accrue for unbilled expenses
* [ ] Reconcile AP sub-ledger to general ledger
* [ ] Review aged payables report

### 4. Cash & Bank

* [ ] Post all bank transactions
* [ ] Reconcile bank statements to general ledger
* [ ] Verify petty cash balance
* [ ] Record bank fees and interest income

### 5. Fixed Assets

* [ ] Record acquisitions and disposals
* [ ] Post depreciation/amortization entries
* [ ] Verify fixed asset register is up to date
* [ ] Review for any impairment or write-offs

### 6. Inventory

* [ ] Record inventory purchases and adjustments
* [ ] Reconcile inventory sub-ledger to general ledger
* [ ] Perform physical inventory count or cycle count if applicable
* [ ] Analyze inventory for obsolescence

### 7. Accruals & Prepaids

* [ ] Record monthly accruals (payroll, expenses, utilities, etc.)
* [ ] Amortize prepaid expenses
* [ ] Review and adjust recurring journal entries

### 8. Payroll

* [ ] Verify payroll journal entries are posted
* [ ] Reconcile payroll liabilities (taxes, benefits, etc.)
* [ ] Confirm all statutory deductions are paid

### 9. Intercompany & Loans

* [ ] Reconcile intercompany accounts
* [ ] Post interest accruals on loans
* [ ] Confirm intercompany balances match across entities

### 10. General Ledger

* [ ] Review trial balance for unusual or material variances
* [ ] Post any final adjusting journal entries
* [ ] Ensure all sub-ledgers tie to the general ledger

### 11. Financial Reporting

* [ ] Prepare monthly financial statements (P\&L, Balance Sheet, Cash Flow)
* [ ] Analyze variances against budget/prior month
* [ ] Review financials for errors or inconsistencies
* [ ] Finalize financial statements for management review

### 12. Compliance & Documentation

* [ ] File GST/VAT returns (if applicable)
* [ ] Submit TDS/TCS filings (if applicable)
* [ ] Archive supporting documents and reconciliations
* [ ] Maintain checklist sign-offs for audit trailActivate to view larger image,

Infographic outlining the Month-End Accounting & Reporting Checklist, including sections for Pre-Close Activities, Accounts Receivable, Accounts Payable, Cash & Bank, Fixed Assets, Inventory, Accruals & Prepaids, Payroll, Intercompany & Loans, General Ledger, Financial Reporting, and Compliance & Documentation.

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