Monthly Accounting- Global Engagement Letter Template

Last updated: July 2025

Monthly Accounting Checklist

Purpose:
Streamline the month-end workflow to deliver accurate, timely accounts every month.

Preparation

☐ Collect all bank and credit card statements.
☐ Request missing invoices, receipts, or expense claims from client.
☐ Confirm payroll journals are received/entered.
☐ Note any large or unusual transactions flagged by client.

Bookkeeping & Reconciliation

☐ Reconcile bank accounts to statements.
☐ Reconcile credit cards and loan accounts.
☐ Post outstanding supplier bills and customer invoices.
☐ Match payments and receipts to invoices.
☐ Review and reconcile payroll liabilities.
☐ Reconcile GST/VAT/BAS accounts if applicable.

Month-End Adjustments

☐ Post depreciation/amortisation journals.
☐ Adjust accruals and prepayments if needed.
☐ Review for bad debt write-offs if necessary.
☐ Check for any owner drawings or dividends.

Review

☐ Review Profit & Loss for obvious errors or mis postings.
☐ Check Balance Sheet balances for reasonableness.
☐ Verify that bank and control accounts reconcile.
☐ Run reports to confirm no unreconciled transactions.
☐ Note key trends or issues to raise with client.

Client Reporting & Sign-Off

☐ Prepare monthly management reports (P&L, Balance Sheet, Aged Receivables/Payables).
☐ Draft summary email highlighting key figures and variances.
☐ Send reports to client for review and questions.
☐ File working papers and lock period in software.
☐ Mark job complete in your practice management system.

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