Clean-up checklist
- Find the last month that reconciles cleanly for each bank and card account.
- Reconcile every month after that, fixing missing and duplicate transactions.
- Recode uncategorised income and expense.
- Clear undeposited funds by matching payments to deposits.
- Review opening balance equity and move balances to the right accounts.
- Review old open invoices and bills; void, write off or apply credits as agreed.
- Check sales tax or GST balances against filed returns.
- Lock the closed periods with a closing date and password.
Record every adjustment in a list your reviewer can sign off.
General information only, not legal, tax, audit or professional-conduct advice. Rules, standards and software features change, so confirm the position that applies to your firm before you act. See our disclaimer.
