End of Month Checklist
Checklist for month end to ensure a smooth close
Before Closing the Month
Complete Outstanding Items
☐ Verify all factory invoices have been uploaded into PartsRec.
☐ Verify Purchase Orders have been written and invoiced in the DMS for all outside purchases.
☐ Review all invoices and credits in PartsRec and ensure in Complete status.
Review Outstanding/Reconciliation Items
☐ Review the Complete Invoices Report and post all complete invoices to the GL.
☐ Investigate any items that have remained outstanding longer than expected.
☐ Confirm all reconciling items are valid and post as expected.
Review Variance
☐ Review current variance amount and variance percentage.
☐ Compare variance to prior month-end.
☐ Use the Variance Calendar to identify any recent variance changes.
☐ Investigate any significant fluctuations before month-end close.
Review Variance Detail
☐ Review Unmatched GL Postings.
☐ Review Invoice Errors.
☐ Review RO Errors.
☐ Review Unlocked Invoices.
☐ Review PAD Errors.
☐ Confirm all known issues have been researched and documented.
Verify General Ledger Balances
☐ Confirm Parts GL balances have been imported successfully.
☐ Verify GL balances agree with accounting records.
☐ Investigate any missing or unusual GL activity.
Review Aging Reports
☐ Review Aging Complete Invoices.
☐ Investigate unusually old completed invoices.
☐ Ensure all expected accounting activity has been posted.
Review Outstanding/Reconciliation Items
☐ Review the Complete Invoices Report and post all complete invoices to the GL.
☐ Investigate any items that have remained outstanding longer than expected.
☐ Confirm all reconciling items are valid and post as expected.
Month-End Validation
Final Reconciliation Review
☐ Confirm inventory value is reasonable.
☐ Confirm outstanding balance is reasonable.
☐ Confirm variance is understood and documented.
☐ Verify all month-end adjustments have been entered.
Documentation
☐ Save or export month-end Variance Report.
☐ Save or export Outstanding Report.
☐ Retain supporting documentation for any unresolved variances.
☐ Document any items to be monitored in the following month.
Sign-Off
Accounting Manager: _________________________
Date: _________________________
Variance at Close: _________________________
Outstanding Balance at Close: _________________________