A month-end routine does not need to be complicated to be useful. Its purpose is to make sure key records are gathered, the main balances are reviewed and unresolved questions are visible before the next period moves on.
1. Gather the source records
Collect the sales and purchase invoices, credit or debit notes, expense evidence, payroll summaries if relevant, and bank or payment-platform statements for the period. Keep records organized by period and source so that a reviewer can trace a transaction back to its evidence.
2. Reconcile bank and payment accounts
Compare recorded transactions with bank statements and other settlement reports. List uncleared payments, deposits in transit, bank charges, duplicate entries and unidentified receipts for follow-up rather than forcing an unsupported adjustment.
3. Review open balances
Check customer and supplier balances, loans, advances, statutory balances and other accounts that commonly carry forward. Note aged items and confirm whether a payment, credit note or supporting record is missing.
4. Connect GST records to the books
Organize transaction data and GST-related records for the relevant period. Reconciliation and filing decisions depend on the taxpayer’s facts and current requirements; use appropriate official guidance and professional support when needed.
5. Record questions and close the loop
Maintain a short list with the item, the information needed, the person responsible and the follow-up status. At period close, save the final reports and supporting records using a consistent file-naming method.
This checklist is general information, not a substitute for a business-specific accounting procedure or professional advice.