Complete month-end checks
Quick summary: Prepare a reproducible review; only the authorized accounting owner should decide when to lock a period.
Review before closing
Section titled “Review before closing”- Agree the company and cut-off date with accounting. Find draft invoices, bills, and journal entries in the period; post valid documents and investigate incomplete ones.
- Import missing bank transactions, complete reconciliation, and compare bank and cash balances with independent statements.
- Review receivables and payables, unapplied payments, duplicate bills, and overdue items. Keep unresolved differences visible and assigned to an owner.
- Check required depreciation, accruals, deferrals, foreign-currency adjustments, and inventory valuation. Their necessity and calculation follow your accounting policy.
- Review tax records and FURS exceptions where applicable. Compare the reports with the underlying ledger.
- Save the reviewed financial reports with their filters and record outstanding issues. Hand the results to the authorized accounting owner.
Locking and later corrections
Section titled “Locking and later corrections”A lock date prevents changes in the closed period; it does not prove that all figures were checked. Do not change lock dates to make a late document post. Accounting must decide whether it belongs in an open period or needs an authorized exception.
Annual closing has additional checks and legal requirements. Use the configured annual-closing workflow with your accountant; this monthly checklist does not replace statutory submission or year-end approval.