oboloo Glossary

Monthly Closing Checklist

oboloo Glossary

Monthly Closing Checklist

A Monthly Closing Checklist is a comprehensive document used to track and monitor the progress of all tasks related to closing out the books for a given month. It includes daily, weekly, and monthly financial activities such as accounts receivable/payable, payroll, inventory management, revenue reconciliation, capital expenditure tracking and year-end reporting. The checklist is essential in helping organizations ensure that their finances are accurate and up-to-date on the first day of the following month. By utilizing this tool, businesses can reduce errors and save time while gaining peace of mind that their accounts are accurate!