A 30-minute month-end close

Updated 10 October 2026 · 5 min read

Six steps that turn a messy month into a locked, reliable one — and why closing the month protects you.

Closing the month means: everything for the month is entered, checked, and locked so it can't change behind you. With the books kept daily, it takes about half an hour.

1. Clear the drafts. Approve or delete draft invoices, bills and receipts dated in the month. The Month-End Assistant lists exactly which ones are left.
2. Reconcile the bank. Every line on the bank statement should match an entry in your books. On the AI plans, Bank Reconciliation imports the statement and suggests the matches; on Basic, tick the statement off against the Cash Book report.
3. Post the month's depreciation in Fixed Assets, if you have assets.
4. Look at who owes you. Run the Customer Aging; anything old belongs on the Collections Worklist (see getting paid faster).
5. Read the Profit & Loss. Compare it with last month or last year. A cost that jumped, or a margin that fell, is easier to explain today than at year end.
6. Close the month. Once closed, nothing dated in it can be added or changed. A mistake found later is corrected in an open month, with both entries on record.

Little and often

The close is quick when the month was kept up as it went: receipts entered the day they arrive, bills when they come in. If you leave it all to the end, the close becomes a reconstruction.