Insights · Profit ·
A month-end close checklist
A 60-minute month-end routine turns bookkeeping into decisions. Here is the list we suggest.
Every month
- Reconcile every bank account and card.
- Chase debtors over 30 days.
- Review supplier bills and accruals.
- Check WIP and unbilled variations (construction).
- Confirm super paid each payday and payroll tax lodged if registered.
- Move GST and tax money to a separate account.
One-page report
- Revenue, gross margin and net profit vs budget.
- Cash now and in 13 weeks.
- Debtors and creditors ageing.
- Three actions for next month.
Need someone to run this with you? That is what a fractional CFO does. See also 13-week cash flow forecast.
Want this looked at for your business?
Book a free 15-minute Financial Health Check with Tereza, our practice manager. We look at income, tax, the business, mortgage, insurance and super in one go. Short on time? Grab a 5-minute quick chat.
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General information only. This doesn’t take your circumstances into account and isn’t tax, financial or legal advice. Talk to your accountant or registered tax agent before acting. PRM is not a registered tax agent; tax agent services are provided by Australian Tax & Super Pty Ltd (TPB 25291395).