[Core] Month-End Close (Client Information Available) Engagement Letter Template

Last updated: July 2025

[Core] Month-End Close Checklist – Client Information Available

Purpose: To deliver an accurate, efficient, and standardised month-end close when all client information is available.

Preparation

☐ Confirm all income & expense transactions are recorded in the system.

☐ Check all bank feeds & imports are up to date.

☐ Verify client has provided bank, credit card, and loan statements.

☐ Confirm payroll journals and outstanding invoices/receipts are received.

☐ Request or chase any missing items immediately.

Core Reconciliations

☐ Reconcile all bank accounts to statements.

☐ Reconcile credit card & loan accounts.

☐ Match customer payments to invoices.

☐ Match supplier payments to bills.

☐ Reconcile payroll liabilities & tax accounts.

☐ Reconcile GST/VAT/BAS accounts if applicable.

☐ Review & clear any suspense or holding accounts.

Month-End Adjustments

☐ Post depreciation & amortisation journals.

☐ Record accruals & prepayments as needed.

☐ Adjust inventory/stock balances if relevant.

☐ Review owner drawings/dividends for accuracy.

Review

☐ Review Profit & Loss for unusual items or errors.

☐ Check Balance Sheet balances for reasonableness.

☐ Confirm all reconciliations balance to zero.

☐ Save supporting workpapers to DMS or shared folder.

☐ Lock the accounting period in your accounting software.

Reporting & Completion

☐ Generate final management reports: Profit & Loss, Balance Sheet, Aged Receivables/Payables.

☐ Prepare summary notes highlighting key figures and issues.

☐ Send final reports & summary email to client.

☐ Mark the job complete in the practice management tool.