Closing the month means making sure the records match the bank and every transaction is sorted.
The steps
- Reconcile every bank and card account to the statement.
- Categorize every transaction.
- Attach or file receipts.
- Check that every invoice is recorded and every payment applied.
- Review the profit and loss against last month.
- Move the tax set-aside.
Our month-end checklist keeps the routine.
General information, not legal, tax or financial advice.
This article is general information, not legal, tax or regulatory advice. Rules change; confirm current requirements with the responsible agency or a licensed professional.
