; Monthly Accounting Checklist
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Monthly Accounting Checklist

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The Monthly Accounting Checklist provides business owners with a detailed list of accounting functions to be completed on a monthly basis. Company management should supply this list of tasks to the appropriate accounting officer(s) and managers should also list a target date for completion. This spreadsheet can be customized to fit the needs of the any company and, depending on the business and/or industry, items may be omitted or additional responsibilities may be added.

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  • pg 1
									Monthly Accounting Checklist
[COMPANY NAME]                                       Company Year End Date:
Our goal is to complete the Fiscal Year End by:
Tasks to be included:                                              Target Date: Initials:   Initials:
1) Review 'Clearing Account'; ensure all General Ledger ('GL')
transactions are complete.
2) Add new employees to payroll; ensure all new employees
have signed their employee agreement and tax forms
3) Ensure new vendors and clients are added to the accounting
4) Capitalize all new asset purchases over $1,000
5) Ensure all employees submit expense reports
6) Write Off Bad Debts - Accounts Receivable that won't pay
7) Pay bills with discount terms and process payment for
additional savings
8) Inventory count of capital assets/ equipment/ merchandise/
inventory, document their physical location and valuate
9) Generate purchase orders for inventory quantity near or
below reorder point
10) Complete monthly bank reconciliations
11) Complete all credit card reconciliations
12) Reconcile petty cash; ensure there is adequate funds
13) Enter all invoices/ purchase orders and process the Accounts
Payable aged report for management review
14) Enter all contracts/ client invoices and process Accounts
Receivable aged report for management review
15) Enter all Revenue Accruals and Deferrals
16) Ensure all employees are paid appropriately; assess
employees are being deducted enough payroll tax
17) Calculate the difference between sales tax charged and sales
tax purchases on goods
18) Ensure all inter-corporate transactions balance; ensure all
foreign accounts are converted to the year end exchange rate
19) Compare actual revenues and expenses with the corporate
budget; make adjustments to the rolling budget
20) Produce Financial Statements for Management review
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