The close calendar we work to
| Working day | Step |
|---|---|
| 1–2 | Bank, card and loan reconciliations |
| 2–3 | AP and AR cut-off, ageing review, unbilled revenue |
| 4–5 | Accruals, prepaids, depreciation and amortisation, payroll journals |
| 6 | Trial balance, balance sheet reconciliations, flux review |
| 7–8 | Financial statements or management pack and review notes to you |
For simpler clients the whole close can finish by working day 5. Dates move to suit your client’s document flow. We agree them in the first month and track them every month.
What you receive
- A reconciled trial balance with supporting schedules for every balance sheet account.
- A flux review with explanations for movements above the agreed threshold.
- Journal entries with support attached.
- A list of open items and questions for the client.
- Financial statements or a management reporting pack, if included in scope.
Our free month-end close checklist shows the steps in more detail.
Frequently asked questions
How fast can you close a client's books?
Between working day 5 and working day 8, depending on the client: how clean the bank feeds are, how quickly documents arrive and how many entities and adjustments are involved. We agree the target for each client upfront. The first two months usually take longer while we learn the client and agree the checklist.
Who decides on accruals and estimates?
We propose them with support, following your firm's policies and prior-period treatment. Your reviewer or the client approves judgemental items before we post them.
What is a flux review?
A comparison of this month's balances with last month or budget, with every movement above an agreed threshold explained. Read our guide to flux analysis.
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.
