🆕 Merged Firm Standard — updated 2026-06-13 (Owner: Sandra Lea, CPA). This checklist is now the single source of truth for month-end close, consolidating three prior templates: the
month_end_close_process_and_log.xlsxworkbook and two legacy task-tool templates (Month-End Close Standard + fill-in Template). The detailed legacy steps below remain valid and map into the phases.
The full line-item checklist (with owners, priorities, day offsets, evidence links, and live dashboards) lives in two places:
AAC_Month-End_Close_Base_Template.xlsx (Operations App folder) — Dashboard, Close Checklist (50 tasks), Reconciliations, Adjusting Entries, Variance Tracker, Open Items/Issues Log, Close Log, Review & Signoff, Filing & Naming.close_periods) backed by the editable DB base template (close_templates / close_template_items). Manage live closes there; use the workbook for offline work or clients not yet in the app.| Phase | Focus | Tasks |
|---|---|---|
| P1 | Pre-Close & Intake — confirm period/basis, gather statements, sync feeds/integrations, clear prior open items, confirm COA | 5 |
| P2 | Transaction Coding & Completeness — code bank/CC, clear suspense/AMA, fix missing payees/customers, record missing transactions | 5 |
| P3 | Revenue & A/R — recognition basis, post sales, reconcile to source systems, AR aging, unapplied/deferred | 5 |
| P4 | Expenses & A/P — post bills, vendor statements, AP aging, expense coding, billable expenses | 5 |
| P5 | Reconciliations — bank, CC/loans (split principal/interest; note lender & asset), reconciling items, sales tax, AR/AP to BS, evidence | 6 |
| P6 | Payroll — runs posted, liabilities reconciled to provider, contractor 1099 tracking | 4 |
| P7 | Adjusting Journal Entries — accruals, prepaids, depreciation, interest, inventory, reclass; correct period + support | 5 |
| P8 | Analytical Review & Financial Statements — BS & P&L with comparatives, variance review, rollforwards, cash ties | 5 |
| P9 | Review & Signoff — preparer/manager/CFO review, issues log, final package, close-complete date & approver | 6 |
| P10 | Filing, Naming & Archive — client delivery (portal notification), period lock in QBO, archive working papers | 4 |
What the merge added beyond the legacy steps: explicit feeds/integration sync, COA mapping check, suspense/"Ask My Accountant" clearing, revenue-to-source reconciliation, vendor-statement + duplicate-bill checks, reclass-with-rationale, comparative financials + retained-earnings rollforward + cash-ties confirmation, a structured Variance Tracker, an Issues Log, formal filing & naming conventions, and a multi-step Review & Signoff with signature block.
Naming convention (folder 35_MEC): CLIENTCODE_Entity_YYYY-MM_BK_Close_Package_YYYY-MM-DD_v01.pdf (see the workbook's Filing & Naming tab for the full set).
MEC order (per CLAUDE.md): 1) Categorize all transactions → 2) Address missing payees/customers → 3) Reconcile bank accounts. Do not mark the month closed until Sandra approves the final review step and Close Health shows no open reconciling items, no unposted JEs, and no unresolved variances.
Source: AAC-Template-02-Month-End-Close.docx (Google Drive) | Owner: Sandra Lea, CPA
⚠️ Do not mark month closed until Sandra approves Step 8. Complete all steps in order.