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A repeatable monthly close process that fits in one afternoon and produces numbers your management team can actually trust.
A disciplined month end close is what separates teams that always know their numbers from teams that scramble before every board meeting. The checklist below works for most early stage companies.
The core checklist
- Reconcile every bank, card and payment processor account.
- Confirm revenue recognition cut off.
- Review accounts receivable ageing and chase overdue balances.
- Post accruals and prepayments.
- Lock the period in your accounting system.