[Core] Month-End Close (Client Information Available) Engagement Letter Template

Last updated: July 2025

[Core] Month-End Close Checklist – Client Information Available

Purpose: To deliver an accurate, efficient, and standardised month-end close when all client information is available. 

Preparation 

☐ Confirm all income & expense transactions are recorded in the system. 

☐ Check all bank feeds & imports are up to date. 

☐ Verify client has provided bank, credit card, and loan statements. 

☐ Confirm payroll journals and outstanding invoices/receipts are received. 

☐ Request or chase any missing items immediately. 

Core Reconciliations 

☐ Reconcile all bank accounts to statements. 

☐ Reconcile credit card & loan accounts. 

☐ Match customer payments to invoices. 

☐ Match supplier payments to bills. 

☐ Reconcile payroll liabilities & tax accounts. 

☐ Reconcile GST/VAT/BAS accounts if applicable. 

☐ Review & clear any suspense or holding accounts. 

Month-End Adjustments 

☐ Post depreciation & amortisation journals. 

☐ Record accruals & prepayments as needed. 

☐ Adjust inventory/stock balances if relevant. 

☐ Review owner drawings/dividends for accuracy. 

Review 

☐ Review Profit & Loss for unusual items or errors. 

☐ Check Balance Sheet balances for reasonableness. 

☐ Confirm all reconciliations balance to zero. 

☐ Save supporting workpapers to DMS or shared folder. 

☐ Lock the accounting period in your accounting software. 

Reporting & Completion 

☐ Generate final management reports: Profit & Loss, Balance Sheet, Aged Receivables/Payables. 

☐ Prepare summary notes highlighting key figures and issues. 

☐ Send final reports & summary email to client. 

☐ Mark the job complete in the practice management tool.