Monthly Financial Close Process Checklist

Note: This document should be used as a general guide to creating a monthly financial close process checklist; however, it does not address all activities that could be assessed during this process. Subscribers are encouraged to customize the checklist so that it reflects specific company practices and business operations.

The purpose of this checklist is to document the activities performed as part of the monthly financial close process at a company. For each step covered in this checklist, users are encouraged to document the responsible person, date due, and whether the task has been completed and reviewed. This tool has been updated to include additional general financial close procedures and steps related to recording fixed assets.

Financial areas addressed in this checklist include:

• General Close Procedures
• Cash
• Investments
• Accounts Receivable
• Prepaid Expenses
• Other Current Assets
• Fixed Assets
• Accumulated Depreciation and Amortization
• Other Assets
• Goodwill
• Intangible Assets
• Accounts Payable
• Accrued Expenses
• Capital Lease Obligation
• Other Current Liabilities
• Equity