Month-End Bookkeeping Checklist for Small Businesses

A repeatable month-end close gives a business owner greater confidence that the monthly numbers are complete and useful. The process does not have to be complicated; it has to be consistent.

Reconcile bank accounts

Reconcile bank and credit-card accounts through month-end and investigate unexplained differences.

Review A/R and A/P

Check overdue receivables, unapplied payments, old payables and unusual balances.

Check payroll liabilities

Confirm payroll-related liabilities and payments are recorded correctly for the close period.

Review unusual transactions

Scan for large, unusual or duplicate transactions and confirm their accounting treatment.

Run and review reports

Review the profit and loss statement, balance sheet and cash position. Look for unexpected movements.

Document open items

Maintain a short close checklist with outstanding questions, missing documents and follow-up tasks.