Monthly Close Tasks:
Transaction Level Review:
Review Uncategorized Expenses:
Review Revenue Query Account (Fancy word for Uncategorized Income so we can use Bank Rules)
Reconcile Statements
Clear old transactions from the bank feed center:
Review Pending Transactions:
Reporting Review:
Pull a Profit and Loss By Month and Review for abnormal monthly totals
Review Negative Amounts in Profit and Loss for the period:
Expenses:
Review COGS Expense Detail:
Review Ordinary Expense Detail:
Assets:
Review the current month current asset detail:
Review the current month other current asset detail:
Review the current month fixed asset detail:
Reconcile Specified Current Asset/and Other Current Asset accounts
Account Reviews & Reconciliations:
Review Accounts Receivable:
Review Accounts Payable:
Review Cash On Hand
Review and close out all clearing accounts
Payroll & Contracted Labor:
Verify gross employee wages:
Verify employer paid payroll tax:
Reconcile payroll liability account:
Review Contract Labor:
Generate Workers Comp Reporting
Loans and Notes Payable
Ensure notes and loans payable are tracked correctly
Closing & Reporting:
Complete month end closing entry
Complete month end reporting
Create month end closing date
