Problems
What is a month-end close?
Short answer
A month-end close is the routine of reconciling all accounts, recording accruals and adjustments, reviewing reports and locking the period so the month's numbers are final and reliable.
Detailed answer
Close means more than categorising
A close confirms that transactions belong in the right period and that balances have supporting evidence. It normally includes bank and card reconciliations, invoice and bill review, payroll checks, loan splits and any necessary accruals or prepayments. The exact checklist should reflect your accounting basis and business complexity.
Finish with review and control
Review the profit and loss and balance sheet, resolve significant queries and document anything left outstanding. Set a closing date so later edits are controlled rather than silently changing issued reports. Give the owner a short explanation of results, cash pressures and unusual items alongside the numbers.
Country differences: rules, thresholds and terminology differ between the US, UK, Australia and Canada. Check the official source for your country below.
Official sources
Published by Expert Bookkeeping Services · Last updated 2026-11-01. General information only — confirm specifics for your situation with a qualified adviser.
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