Month-end close

Month-End Close Exception Checklist

A close is not decision-ready because every box says complete. It is ready when reconciliations tie out, unresolved items are visible, and every material exception has an owner and next action.

Direct answer: track each month-end problem in one exception log with the account or process, amount, missing source, decision owner, due date, status, and effect on the close, cash, or reporting.

Close status

For each account or workstream, record the owner, due date, records received, last reconciled date, unresolved exception count, and decision needed from the owner. Use one status: not started, in progress, blocked, ready for review, or complete.

Cash and bank accounts

  • Does the statement ending balance tie to the reconciled ledger?
  • Are stale checks, deposits in transit, fees, and transfers explained?
  • Are duplicate or missing transactions still open?

Credit cards and payment platforms

  • Does each statement tie out independently?
  • Are owner or personal charges routed for review?
  • Do processor deposits reconcile to gross sales, fees, refunds, and chargebacks?

Receivables

  • Does the aging agree to the ledger?
  • Which balances are overdue, disputed, duplicated, or unsupported?
  • Do credits and unapplied cash have an owner and next action?

Payables

  • Does each material payment have a verified bill, amount, and due date?
  • Are terms, disputes, and approval ownership recorded?
  • Does the cash forecast use the approved payment date?

Payroll and owner activity

  • Are payroll liabilities and clearing accounts reconciled?
  • Are draws, contributions, reimbursements, and personal charges separated?
  • Does every unusual material item have support and an owner decision?

Reporting readiness

  • Are incomplete reconciliations disclosed?
  • Are material estimates and assumptions documented?
  • Do budget variances, forecast changes, and owner actions have explanations and dates?

Exception log fields

  1. Account or process
  2. Description
  3. Amount or range
  4. Source needed
  5. Decision owner
  6. Due date
  7. Status
  8. Effect on close, cash, or reporting

Bring a summary of the open work to the fit review

Describe the last reconciled month, the account or process that is blocked, and the management decision you cannot make yet. Name the missing record type without attaching the record.

A short scope summary helps separate cleanup work from recurring reporting. Leave bank statements, account numbers, tax IDs, passwords and sensitive documents out of the first message.

Request a remote finance fit review

When to request a Books Cleanup Readiness Review

A contained review may help when the books are behind, bank activity does not tie out, owner charges are mixed in, records are missing, or cleanup is difficult to quote. Northline identifies the exception list, owner questions, close-readiness status, and a bounded cleanup path before anyone promises full cleanup.

Need help organizing the exceptions?

Use the Finance intake to describe the accounting system, cleanup stage, and what feels messy. Do not send statements, account numbers, tax IDs, Social Security numbers, passwords, or sensitive documents in the first message.

Request a finance fit review

Northline provides bookkeeping cleanup, reconciliation, close-readiness, and owner-finance support. This checklist is educational and is not tax, legal, audit, assurance, investment, lending, or CPA-replacement advice.