The Monthly Close Checklist Accounting is an important business process that helps ensure financial accuracy. It involves a detailed review and verification of the financial data in preparation for the monthly close. This audit-like approach ensures that all accounts are balanced and that any discrepancies are identified and corrected prior to closing out the month’s books. It also includes verifying documents, records and information needed to produce accurate financial reports. In short, it’s an essential step for maintaining proper accounting procedures.