Why a checklist
Closing is where small errors become visible. A fixed checklist reduces rework and makes handovers painless.
The checklist
- Record all outstanding invoices and bills.
- Reconcile bank and cash accounts.
- Post accruals and prepayments.
- Calculate depreciation.
- Review the trial balance for odd balances.
- Lock the period.
After closing
Share the reports, note any open issues, and start the next period with a clean slate.
