The end is nigh…of the month – accounts monthly checklist

Month end routine to keep your accounts in order

The end of the month is natural financial reporting point.  Here’s an accounts monthly checklist of what you need to be doing to keep on top of your accounts, manage your cashflow and keep your accountant happy.

Accounts monthly checklist:

  1. Prepare, CHECK, authorise and pay wages and salaries

  2. Prepare all you sales invoices and CHECK

  3. Download bank statements and import into your accounting softwareimport bank statements with Kashflow

  4. Allocate lodgements against the appropriate outstanding sales invoices

  5. Allocate creditor payments against purchase invoices

  6. Reconcile the accounting records to the bank statement

  7. Charge non-creditor payments to the appropriate expense or balance sheet account

  8. Prepare debtors statements and CHECK

  9. Send sales invoices and statements to customers

  10. Select a cut-off date for processing purchases invoices

  11. Process purchases invoices and submit for approval

  12. Approve purchase invoices and reconcile the accounting records to supplier statements

  13. Review key accounting reports: profit and loss, balance sheet, aged creditors, aged debtors

  14. Compare actual performance against the budget – take action where necessary

  15. Update cashflow forecasts – take action where necessary

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