Monthly bookkeeping gives owners a timely view of cash, unpaid customer invoices, supplier commitments and tax records. A short, consistent close is usually more valuable than waiting until year-end to reconstruct activity from bank statements.
Monthly close checklist
- Import bank and card transactions, then reconcile each account to its statement.
- Raise sales invoices promptly and match receipts against open customer balances.
- Record supplier bills, employee reimbursements and recurring costs with supporting documents.
- Review VAT tax codes and reconcile VAT control accounts to the return schedule.
- Check payroll, leave, loan and owner-current-account balances.
- Review aged receivables and payables and follow up exceptions.
- Post documented accruals, prepayments and depreciation where appropriate.
- Save a dated trial balance and management summary.
Keep an exception list
Unmatched bank transactions, missing invoices and unusual balances should have an owner and a resolution date. Preserve the original evidence and the adjustment trail rather than overwriting transactions. This routine supports better management decisions and creates a stronger base for VAT and Corporate Tax work.
Accounting methods and reporting requirements depend on the entity and applicable standards. The checklist is operational guidance, not a substitute for accounting policies tailored to the business.
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