Monthly Accounting- Global Engagement Letter Template

Last updated: July 2025

Monthly Accounting Checklist

Purpose: 
Streamline the month-end workflow to deliver accurate, timely accounts every month. 

Preparation 

☐ Collect all bank and credit card statements. 
☐ Request missing invoices, receipts, or expense claims from client. 
☐ Confirm payroll journals are received/entered. 
☐ Note any large or unusual transactions flagged by client. 

Bookkeeping & Reconciliation 

☐ Reconcile bank accounts to statements. 
☐ Reconcile credit cards and loan accounts. 
☐ Post outstanding supplier bills and customer invoices. 
☐ Match payments and receipts to invoices. 
☐ Review and reconcile payroll liabilities. 
☐ Reconcile GST/VAT/BAS accounts if applicable. 

Month-End Adjustments 

☐ Post depreciation/amortisation journals. 
☐ Adjust accruals and prepayments if needed. 
☐ Review for bad debt write-offs if necessary. 
☐ Check for any owner drawings or dividends. 

Review 

☐ Review Profit & Loss for obvious errors or mis postings. 
☐ Check Balance Sheet balances for reasonableness. 
☐ Verify that bank and control accounts reconcile. 
☐ Run reports to confirm no unreconciled transactions. 
☐ Note key trends or issues to raise with client. 

Client Reporting & Sign-Off 

☐ Prepare monthly management reports (P&L, Balance Sheet, Aged Receivables/Payables). 
☐ Draft summary email highlighting key figures and variances. 
☐ Send reports to client for review and questions. 
☐ File working papers and lock period in software. 
☐ Mark job complete in your practice management system. 

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