Download
Close checklist
- 35 tasks with done-when tests
- Status and progress tracking
- Printable tick-box PDF
Opens in Excel, Google Sheets and Apple Numbers.
Free tools · Closing the month
Free month-end close checklist, with a done-when test for every task.
Excello's free month-end close checklist lists 35 tasks in eight stages, from cut-off to locking the period, each with a clear test for when it is done.
Track progress in the Excel version, or print the PDF and tick tasks off by hand.
Free. No sign-up. Timed for a five-day close.
- Checklist
- Tasks 35
- Stages eight
- Formats Excel and PDF
- Price free
Download the month-end close checklist template
The files
The month-end close process checklist
Every task
The full month end closing checklist, stage by stage. Timing assumes the close finishes within five business days of month-end.
| # | Task | Done when | Timing |
|---|---|---|---|
| Before month-end | |||
| 1 | Remind the team to submit receipts, bills and expense claims | Reminder sent | Before |
| 2 | Confirm payroll dates and any bonuses or leavers this month | Payroll dates confirmed | Before |
| 3 | List the accruals you expect, such as contractor work not yet invoiced | Accrual list started | Before |
| Cut off the period | |||
| 4 | Stop posting new transactions dated in the month | Cut-off date agreed | Day 1 |
| 5 | Download statements for every bank, card and loan account | Every statement saved in one folder | Day 1 |
| 6 | Download payout and settlement reports from Stripe, Shopify and marketplaces | Every report saved | Day 1 |
| 7 | Export the payroll register for the month | Payroll report saved | Day 1 |
| Reconcile bank and card accounts | |||
| 8 | Reconcile each bank account to its statement | Book balance equals the statement, differences explained | Day 1 to 2 |
| 9 | Reconcile each credit and company card | Card balance equals the statement | Day 1 to 2 |
| 10 | Reconcile payment processor balances to payouts | Clearing account agrees to the processor report | Day 1 to 2 |
| 11 | Reconcile petty cash, if you keep any | Count agrees to the book balance | Day 1 to 2 |
| Chase and post anything missing | |||
| 12 | Request missing receipts and bills | Every transaction has a document | Day 2 |
| 13 | Post late supplier bills for the month | Bills received after month-end recorded | Day 2 |
| 14 | Post any sales invoices not yet recorded | Revenue for the month complete | Day 2 |
| 15 | Record bank fees and interest from the statements | Statement-only items recorded | Day 2 |
| 16 | Clear the uncategorized or suspense account | Balance is zero | Day 2 |
| Post accruals and adjustments | |||
| 17 | Accrue costs incurred but not yet billed | Accrual entries posted | Day 3 |
| 18 | Move this month's share of prepaid expenses into costs | Prepaid schedule updated | Day 3 |
| 19 | Record depreciation on fixed assets | Depreciation schedule updated | Day 3 |
| 20 | Post payroll accruals and employer taxes | Payroll liabilities agree to payroll reports | Day 3 |
| 21 | Update deferred revenue for payments received in advance | Schedule agrees to the balance | Day 3 |
| Check the balance sheet | |||
| 22 | Agree receivables to the unpaid invoice list | Aging report equals the balance sheet | Day 3 to 4 |
| 23 | Agree payables to the unpaid bills list | Aging report equals the balance sheet | Day 3 to 4 |
| 24 | Agree loans to lender statements | Balances match | Day 3 to 4 |
| 25 | Agree sales tax or VAT payable to the tax report | Balances match | Day 3 to 4 |
| 26 | Agree inventory to stock records | Balances match or differences recorded | Day 3 to 4 |
| 27 | Agree balances between group companies | Intercompany balances net to zero | Day 3 to 4 |
| Review the financial statements | |||
| 28 | Run the profit and loss and balance sheet | Reports saved | Day 4 |
| 29 | Compare each line with last month and the budget | Large changes listed | Day 4 |
| 30 | Explain every large change in a short note | Notes written | Day 4 |
| 31 | Have someone other than the preparer review both statements | Review signed off | Day 4 |
| Lock and file the month | |||
| 32 | Lock the period in your accounting software | Lock date set | Day 5 |
| 33 | File reconciliations and reports with the statements | Close folder complete | Day 5 |
| 34 | Share the statements with owners or investors | Statements sent | Day 5 |
| 35 | Note anything that slowed the close for next month | Improvement noted | Day 5 |
Accounting monthly close checklist tips
A faster close
Close to a calendar
Put every stage on a set business day, so the team knows what is due before the month ends.
Reconcile cash first
Bank and card balances underpin everything else. Agree them before posting adjustments.
Keep one folder per month
Statements, reports and reconciliations in one place make review and audit quick.
Use done-when tests
A task is finished when its condition is true, not when someone feels it is done.
Have a second person review
Someone other than the preparer reads the statements before the period is locked.
Write down what slowed you
A one-line note each month is how a ten-day close becomes a five-day close.
Why a documented close helps at audit time
The paper trail
Source for close times: Ledge, Month-End Close Benchmarks 2025, a survey of 100 finance professionals
Or hand the checklist over
Where Excello fits
Frequently asked questions
What is a month-end close checklist?
A month-end close checklist is the ordered list of tasks a business completes after each month ends to confirm its books are right. It runs from cutting off the period to reconciling accounts, posting adjustments, reviewing statements and locking the month.
How long should a month-end close take?
Five business days or fewer is a common target. In a 2025 Ledge survey of 100 finance professionals, half took six or more business days. Excello closes within five business days as standard.
What is the most important step in the month-end close?
Reconciling the bank and card accounts. Almost every other number depends on cash being right, so most teams agree those balances to their statements before posting any adjustments.
How is a month-end close different from a year-end close?
A year-end close is the month-end close for the last month of the financial year, plus some annual work. That work includes final depreciation, inventory counts and preparing the numbers for tax and audit.
Who should do the month-end close?
Whoever keeps the books prepares it, and someone else reviews it. In a small business that might be a bookkeeper and a founder, or an outsourced accounting firm and the finance lead.
Is this month-end close checklist free?
Yes. The Excel and PDF versions are free to download and use, with no sign-up needed. The Excel file tracks the status of all 35 tasks and shows progress by stage.