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The month-end close checklist, with the preparer and signer for each line

The Rever team

Contents

Month-end close is the work a finance team does after each month ends to make that period's books complete and correct: reconcile the accounts, record accruals and adjustments, explain the movements and sign. A month-end close checklist puts those steps in order, with a preparer, a signer and the support for each line.

The checklist below runs with or without Rever. The preparer column names the person who does each line by hand, the agent column names the Rever agent that prepares it for that person to review, and the signer column names a person on every line. In Rever, Close Orchestrator keeps the checklist and ties each line to an owner, a due date, its evidence and its completion criteria. Rever's post on what the financial close is defines each stage of the close, and the list below gives each stage an owner.

The month end close checklist

StepClose dayWhat gets donePreparerRever agentSigner
Pre-close cut-offPre-closeConfirm AP holds the month's invoices, payroll has run and receiving has logged goods against open purchase ordersStaff accountantNoneController
Bank and processor reconciliationsDay 1Tie each bank, card and processor line to the ERP; clear or explain the unmatched itemsStaff accountantMatcher; Investigator traces unexplained differencesController
Subledger tie-out, APDay 1Agree the AP subledger to the general ledger control account; resolve three-way match exceptionsAP accountantMatcher; Investigator for disputed mismatchesController
Subledger tie-out, ARDay 1Agree the AR subledger to the general ledger control account; apply cash; review short paymentsAR accountantMatcher; Deduction checks short paymentsController
Accruals and reversalsDay 2Accrue for goods and services received and not invoiced; reverse last month's accruals that have settledStaff accountantJournal prepares; Close Orchestrator verifies the reversalsAn approver within your thresholds; two for material amounts
Accrued payroll and benefitsDay 2Accrue wages, bonuses and benefits earned and not yet paidPayroll leadJournal, from the payroll scheduleController
InventoryDay 2Agree counts to the perpetual records; recompute valuation; review the reserve for slow-moving and obsolete stockStaff accountant, with operationsInventoryController
IntercompanyDay 2Agree balances between entities, both sides; record eliminationsStaff accountantMatcher agrees both sidesController
Fixed assets and depreciationDay 2Add capitalised purchases, record disposals, run depreciation, tie the register to the ledgerStaff accountantJournal prepares depreciation; your team keeps the registerController
Prepaid amortisationDay 2Amortise prepaid balances on schedule; tie the schedule to the ledgerStaff accountantJournalController
Revenue cut-offDay 2Confirm revenue sits in the period the company earned it; test invoices near month-end against deliveryStaff accountantMatcher tests dates against delivery; Revenue Assurance checks billingController
Tax accrualsDay 3Accrue income, sales and property taxes for the periodTax lead or staff accountantNone; tax judgment stays with your teamController
Equity and debtDay 3Accrue interest; tie loan balances to lender statements; test covenants; roll forward equityStaff accountantMatcher ties loans to lender statements; Journal accrues interestController; CFO for covenants
Flux reviewDay 3Explain movements above the threshold, with sourcesStaff accountant or controllerFlux AnalystController reviews; CFO reads
Support and workpapersDay 4Confirm each line carries its support; list what is missingStaff accountantEvidenceController
Cash forecastDay 4Roll the 13-week cash forecast onto the closed month's actuals; explain the missesTreasury or FP&A leadCash PilotCFO
Financial statements and reporting packDay 4Prepare the statements and the management pack from the closed trial balanceControllerNoneCFO
Sign-offDay 5Confirm each line has passed or carries an authorised exception; close and lock the periodControllerClose Orchestrator lists open blockers and does not certify an incomplete closeController, then CFO

Download the checklist (CSV) Download the checklist (Excel)

The close days assume a five-day close, so move them to fit your own calendar. You can download the checklist as a CSV, close days and agents included.

Why the lines run in this order

Your team runs cut-off before the month ends, so the reconciliations start from a complete month. The reconciliations run next because each later line depends on balances that tie: bank, the AP and AR subledgers, intercompany and the rest of the balance sheet reconciliation. An accrual booked before the AP tie-out can double-count an invoice that arrived in the last days of the month. The flux review runs near the end, after the accruals, so the comments explain the balances the controller is about to sign. The support check and the 13-week cash forecast roll run on day four, once the balances they rest on have closed. The controller builds the statements from the trial balance the flux review explained, and sign-off comes last.

What changes with agents on the list

Month-end close automation in Rever starts before month-end: A month with Rever covers the daily matching and continuous accounting through the month. On the checklist itself, four things change.

Close Orchestrator tracks the dependencies on the list, so the flux review waits on the reconciliations it depends on. It also reviews the previous six months of close entries for recurring, quarterly and seasonal items the list is missing, and adds them. Matcher has reconciled bank and subledger activity through the month, so those lines open with the unexplained differences already with Investigator.

Evidence attaches the support to each close entry as the work completes. A reviewer who opens a line finds the documents beside it, and the auditor later draws on the same records; audit readiness covers that side.

Journal prepares the accruals with their calculation support, and once your approver signs in the Inbox, the approved entries come back as an import file your team loads. Material amounts take two approvers at the thresholds you set, and Journal cannot approve its own entry. At the start of the next month, Close Orchestrator checks that each entry scheduled to reverse did reverse in the right period, and leaves alone the provisions meant to remain.

The sign-off rule carries the most weight. On a spreadsheet checklist, a controller under deadline can tick the last box with a material item open. In Rever your team sets materiality in Settings, entity by entity, and Close Orchestrator does not certify an incomplete close. It routes each unresolved material blocker to your Inbox, and a task with unresolved material support shows as qualified rather than complete. The controller signs once every required task has passed or carries an authorised, documented exception. Flux Analyst drafts the movement explanations the controller reviews, and the flux analysis article walks through one, line by line. The period close page shows the same work in the product.

The lines people keep

Three of the eighteen lines have no agent: pre-close cut-off, tax accruals and the financial statements. Cut-off depends on people outside finance confirming what arrived, tax judgment stays with qualified reviewers, and the controller prepares the statements for the CFO to sign. On the other fifteen lines a person still signs, and part of the judgment stays with your team where an agent prepares: operations counts the stock that Inventory reconciles, your team keeps the fixed asset register, and a staff accountant tests the covenants. Close Orchestrator holds the person-only lines in sequence with the rest. Multi-entity work and consolidation sit in Rever's Enterprise plan.

You can test the checklist against your own books. The zero-day scan is the first pass over your connected records once read-only access is in place. It applies the relevant reconciliations, verifications and controls to the in-scope population and reveals initial findings with the evidence behind them, and missing sources and blocked procedures stay visible.

01FAQ

Questions

Who signs each line of the month-end close?

A person signs every line. The controller signs most of them, an approver within your thresholds signs the accruals, with two approvers on material amounts, and the CFO signs the statements, the cash forecast and the covenant tests. In Rever the agents prepare, and the signature stays with your team.

What is the month end close process?

The month-end close process is the sequence a finance team follows to close a month: cut-off before the month ends, then the reconciliations and subledger tie-outs, the accruals and adjustments, the flux review, the financial statements and sign-off. Each step depends on balances the steps before it have tied out.

What is on a month end close checklist?

A month-end financial close checklist covers pre-close cut-off, bank and processor reconciliations, AP and AR subledger tie-outs, accruals and reversals, payroll, inventory, intercompany, fixed assets, prepaids, revenue cut-off, tax, equity and debt, a flux review, a support check, the cash forecast, the financial statements and sign-off. Each line needs a preparer, a separate signer and attached support.

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