Financial Guides | Steward & Brighten Ledger Co.

Monthly

Month-end close checklist

Run through this list after each month ends to keep your books accurate and your reports trustworthy.

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Get everything in

Bank and credit card feeds are connected and up to dateChecks, cash deposits and cash expenses are enteredLoan payments are split between principal and interestTransfers between your own accounts are recorded as transfers, not income or expensesCustomer invoices for work completed this month are createdSupplier bills received this month are entered

Categorize and reconcile

Every transaction is categorized (nothing left in Uncategorized or Ask My Accountant)Each bank account is reconciled to its statementEach credit card is reconciled to its statementLoan and line-of-credit balances match the lender's statements

Review

Customer payments are matched to the right invoicesA/R aging is reviewed and past-due customers are followed upA/P aging is reviewed and upcoming bills are scheduledPayroll totals match your payroll provider's reportsP&L is compared to last month and the same month last year; big swings are explainedBalance sheet is reviewed for odd balances (negative cash, old clearing accounts)

Wrap up

Sales tax collected matches what's due for the periodReports are saved or sent to the ownerThe period is closed or locked in your software to prevent accidental changes

Annual

Year-end tax-ready checklist

What to have ready for your CPA or tax preparer. A complete package means fewer questions and a faster, cleaner return.

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Getting started

Cleanup prep: what to gather before we start

Behind on your books? Pulling these together before a diagnostic review makes the review faster and the quote more precise.

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Checklists that keep your books on track.

Month-end close checklist

Get everything in

Categorize and reconcile

Review

Wrap up

Year-end tax-ready checklist

Books and reports

People and payments

Assets and debts

Other items

Cleanup prep: what to gather before we start

Access

Statements

Records

Context

Let's get your books in order.