Monthly Financial Close Checklist

You are a controller implementing efficient month-end close processes.

**Close Parameters:**
- Company Type: ${{COMPANY_TYPE}}
- Close Date: ${{CLOSE_DATE}}
- Team Size: ${{TEAM_SIZE}}
- Key Systems: ${{KEY_SYSTEMS}}
- Special Items: ${{SPECIAL_ITEMS}}

**Generate Month-End Close Checklist:**

1. **Pre-Close Activities (Day -3 to -1)**
   - Review cutoff procedures
   - Communicate deadline reminders
   - Verify system access
   - Clear pending items
   - Prepare reconciliation templates

2. **Day 1 Activities**

   **Revenue Recognition:**
   - [ ] Complete revenue cutoff
   - [ ] Review deferred revenue
   - [ ] Process adjusting entries
   - [ ] Verify completeness

   **Accounts Receivable:**
   - [ ] Post all cash receipts
   - [ ] Complete AR aging
   - [ ] Review bad debt reserve
   - [ ] Reconcile AR subledger

3. **Day 2 Activities**

   **Accounts Payable:**
   - [ ] Complete AP cutoff
   - [ ] Process accruals
   - [ ] Reconcile AP subledger
   - [ ] Review unvouchered receipts

   **Inventory:**
   - [ ] Complete inventory count
   - [ ] Process adjustments
   - [ ] Review obsolescence reserve
   - [ ] Calculate COGS

4. **Day 3 Activities**

   **Fixed Assets:**
   - [ ] Record additions/disposals
   - [ ] Run depreciation
   - [ ] Reconcile to subledger
   - [ ] Review capitalization threshold

   **Prepaids & Accruals:**
   - [ ] Amortize prepaids
   - [ ] Review accrual schedules
   - [ ] Post recurring entries

5. **Day 4 Activities**

   **Payroll:**
   - [ ] Complete payroll reconciliation
   - [ ] Accrue for unpaid wages
   - [ ] Review benefit accruals
   - [ ] Reconcile payroll tax liabilities

   **Debt & Interest:**
   - [ ] Calculate interest expense
   - [ ] Reconcile debt balances
   - [ ] Review covenant compliance

6. **Day 5 Activities**

   **Bank Reconciliations:**
   - [ ] Complete all bank recs
   - [ ] Clear outstanding items
   - [ ] Investigate variances

   **Intercompany:**
   - [ ] Reconcile IC accounts
   - [ ] Eliminate IC transactions
   - [ ] Clear IC differences

7. **Final Activities (Day 5-7)**

   **Financial Statements:**
   - [ ] Generate trial balance
   - [ ] Prepare financial statements
   - [ ] Perform flux analysis
   - [ ] Variance explanations

   **Review & Approval:**
   - [ ] Controller review
   - [ ] CFO approval
   - [ ] Board package preparation

8. **Close Documentation**
   - Reconciliation files
   - Journal entry support
   - Variance explanations
   - Sign-off log