Bank cash tied to the books Done

Checks that the cash balance in the books matches the bank statement. If it does not, some payments are unposted and every number in the month is in question.

Receivables agreed to the documents Done

Checks that what customers owe in the ledger equals the invoices and delivery notes behind it. A gap is revenue booked twice, or a paid invoice still open.

Payables agreed to the documents Done

Checks that what you owe suppliers equals the bills on record. A gap is a cost that will land next month and break the comparison.

Accruals posted Done

Checks that work delivered in the month is a cost of the month, even where the invoice has not arrived. Without it the month looks cheaper than it was.

Depreciation charged for the month Done

Checks that the month carries the wear on the assets it used. Skip it and profit is overstated by exactly the charge.

VAT accrued and agreed Done

Checks that the tax on the month's sales and purchases is posted and ties to the return. An unposted VAT line moves both profit and the balance sheet.

Payroll and contributions accrued Done

Checks that salaries, bonuses and social contributions earned in the month are booked in it — usually the largest single cost, and the one that arrives late.

Inventory and work in progress agreed Done

Checks that stock and unfinished work on the balance sheet equal what the count says. A gap goes straight into cost of sales.

Balance sheet agrees with itself Done

Checks that assets equal liabilities plus equity on the last day of the month. It does not prove the figures are right — it proves the columns were built from one set of books.

P&L agrees with the postings Done

Checks that the reported revenue and costs are the sum of the month's postings. A gap means the report and the ledger are telling two stories.

Closing entries posted Done

Checks that the month is closed in the accounting system, so no one can post into it after you have reported on it.

Flux commentary reviewed Done

Checks that you have read the explanation of why the numbers moved against last month — and that you agree with it.

Forecast refreshed Done

Checks that the forecast has been recomputed from this month's closed numbers rather than stale ones.

Report sent Done

Checks that the people who wait for the month's numbers have them. A closed month nobody was told about is not a finished close.