A month-end close checklist gives a service business a repeatable way to gather records, investigate differences and document review. The exact entries and reports depend on your accounting basis and circumstances. Use this operational checklist with your accountant, rather than as a substitute for their judgment.
Agree on the period and responsibilities.
Name the reporting period and the people responsible for collecting, preparing and reviewing information. List outstanding records early so that a late supplier bill or disputed invoice does not disappear into an informal conversation.
Keep one checklist version and link each task to its supporting record. Set a clear process for changes received after the review; do not quietly replace the information someone has already approved.
A completed task should lead to supporting evidence.
A close checklist can show every task as complete while leaving the reasoning impossible to revisit. Attach the report version, supporting schedule or explanation that allows a reviewer to understand what was checked. The person reviewing an adjustment should be able to distinguish the source difference from the proposed accounting treatment.
Where a difference remains unexplained, keep the issue and owner visible. The accountant determines any appropriate entry or reporting treatment; the checklist organizes the evidence and handover.
| Review area | Evidence to retain | Question for the reviewer |
|---|---|---|
| Customer balances | Period-specific open items and payment/credit references. | Are differences explained against the intended report scope? |
| Supplier balances | Bills, payments, approvals and unresolved document requests. | Which obligations still need clarification? |
| Reconciliation | The compared records, differences and investigation notes. | Is each unresolved difference identified and assigned? |
| Adjustment review | The proposed entry and supporting explanation. | Who has authority to review and approve its treatment? |
Review customer and supplier balances.
Start with the accounts receivable and accounts payable distinction. Check that the detailed lists are for the intended period and investigate duplicates, unmatched payments and missing references. Ask the accountant how balances should reconcile to the relevant reports.
Use the receivables aging guide to review older customer items. Record the follow-up outcome and any question requiring accounting judgment; do not treat aging as an instruction to write off a balance.
- Customer invoices, receipts and applied credits.
- Supplier bills, payments and supporting documents.
- Disputed or incomplete items with an assigned owner.
- Differences between detailed schedules and accounting reports.
Collect reconciliation evidence.
Gather the statements and records your accountant needs for reconciliations. Record unexplained differences instead of using an unsupported adjustment to make totals match. Confirm who can prepare an entry and who must review it.
Intuit’s account-type reference provides background on the different balance-sheet categories. It does not prescribe your close process or local reporting obligations. Your accountant should determine the appropriate treatment of adjustments and period boundaries.
Finish with a documented review.
Ask the reviewer to identify unresolved questions, accepted explanations and any follow-up needed. Retain the report versions used for the review and apply your organization’s access and retention practices. A report is easier to revisit when its period and supporting records are clear.
FilWorx Ledger supports journals and financial reporting alongside receivables and payables. Bring your reporting checklist to a demo and confirm the workflow. This guide does not provide tax filing, statutory deadline or financial-statement assurance advice.
Track unexplained reconciliation items.
Track reconciliation items by status and age at the same close milestone. Record how many remain unexplained. Faster completion alone does not establish the quality of the close.
Keep the period, population and definitions consistent when comparing results. These are suggested measures, not industry benchmarks or observed FilWorx customer outcomes.
Sources & further reading.
Further reading from the original publishers. Product documentation describes that publisher’s product; it does not establish FilWorx capabilities.