Bookkeeping & Accounting · Free Template · ~6 steps
Bookkeeping Monthly Close Procedure
Bookkeeping business owners who want a written close procedure that prevents missed reconciliations and late client deliveries.
Free SOP template — copy it, adapt it, or generate a custom version for your business in 5 minutes
Who it's for
Bookkeeper performing a month-end close for a client
When to run it
Every month-end close, within the first 5 business days of the following month
Before you start
- •All source documents received — bank statements, credit card statements, receipts for uncategorized transactions
The procedure
Step-by-step, in order. Each step has the action and the reason it matters.
- 1
Confirm all transactions are entered — no missing dates
Pull a transaction report for the month. Verify no date gaps. Compare entry count to bank statement transaction count. Missing entries are harder to find after reconciliation is 'complete.'
- 2
Categorize all uncategorized transactions
Run an uncategorized transaction report. Every item must be categorized before reconciliation. For any transaction you cannot identify: contact the client. Do not leave anything in 'uncategorized' or 'ask my accountant.'
- 3
Bank reconciliation — match to the penny
Reconcile the bank account to the bank statement. The difference must be $0.00. An unreconciled difference is not 'close enough.' Common causes: duplicate entry, voided check in transit, missed bank fee. Find and fix it.
- 4
Credit card reconciliation
Reconcile every credit card account to its statement — same standard: $0.00 difference. Verify payments from the bank account to the credit card are recorded as transfers (balance sheet), not expenses.
- 5
P&L anomaly review before delivery
Run the P&L. Look for: unusually high or low amounts vs prior months, any revenue account that looks wrong, any account with an unexpected debit/credit balance. Investigate and resolve before delivering.
- 6
Deliver reports with a 3-bullet summary
Deliver: P&L, Balance Sheet, bank reconciliation report. Include a 3-bullet summary: (1) any anomaly investigated and resolved, (2) any action item for the client, (3) the reconciled bank balance. Clients who receive a summary retain 4× more reliably.
Verify when done
- ☐Bank reconciliation difference is $0.00
- ☐All credit card accounts reconciled
- ☐No uncategorized transactions remaining
- ☐P&L anomaly review completed before delivery
Common mistakes
- ✕Delivering before bank reconciliation is $0.00
- ✕Leaving uncategorized transactions for the accountant
- ✕Recording credit card payments as expenses instead of transfers
- ✕Delivering reports without a summary
Trainer notes
The $0.00 standard is not negotiable. Bookkeepers who routinely close to 'close enough' accumulate errors that compound over quarters and create nightmare tax season adjustments.
Common questions
Who should run the bookkeeping monthly close procedure?
Bookkeeper performing a month-end close for a client
When should this bookkeeping & accounting procedure be run?
Every month-end close, within the first 5 business days of the following month
How many steps does the bookkeeping monthly close procedure have?
6 steps. The procedure starts with "Confirm all transactions are entered — no missing dates" and ends with "Deliver reports with a 3-bullet summary". Each step in between has the action and the reason it matters.
What's the most common mistake when running this procedure?
Delivering before bank reconciliation is $0.00. The $0.00 standard is not negotiable. Bookkeepers who routinely close to 'close enough' accumulate errors that compound over quarters and create nightmare tax season adjustments.
Can I get a custom version written for my bookkeeping & accounting business?
Yes. TalkNDone generates a custom SOP from your voice or text description in about 5 minutes — written using your team's words, your equipment, and your specific procedure. $49 one-time, free preview before you pay, no subscription. Start at talkndone.com.
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