Streamlining Your Month-End Close for Efficiency and Accuracy
- Tara Constantine, CEO
- Sep 17
- 2 min read
Updated: Sep 18
 |
Streamlining Your Month-End Close for Efficiency and Accuracy |
Cut the scramble and close with confidence—standardize capture, automate coding in QuickBooks, and follow a repeatable checklist built for mortgage, real estate, and property management teams. |
Month-end close often becomes a stressful, time-consuming sprint. With the right processes, you can close faster, reduce errors, and deliver timely insights. Here’s how to tighten your month-end rhythm.
1) Standardize Data Capture at the Source
Fast closes start before the books are open. When invoices, receipts, and payroll reports arrive clean and consistently labeled, reconciliation is quick and accurate.
✓ Centralize submissions: Use a shared inbox or upload folder.
✓ Use memo conventions: e.g., “PM-A12 – Duke Energy – Aug”.
✓ Adopt an expense app: Tools like Ramp or Expensify sync directly with QuickBooks Online.
✓ Require docs on time: Set clear cutoff dates for each month-end.
A clear, repeatable workflow keeps your month-end on schedule.
2) Use Bank Rules & Automations in QuickBooks
• Create vendor rules: Utilities, ACH fees, SaaS—map once, apply forever.
• Standardize categories: Keep your chart of accounts clean and consistent.
• Manage an “exceptions” list: Review outliers weekly so nothing slows month-end.
3) Implement a Month-End Close Checklist
✓ Reconcile bank and credit card accounts
✓ Review Accounts Receivable (aging, unapplied cash)
✓ Review Accounts Payable (aging, unapplied credits)
✓ Post accruals and adjusting entries
✓ Generate and review management reports
Bonus: Review Weekly, Not Monthly
Don’t wait until the last day. Mid-month reconciliations and weekly reviews of open receivables spread the workload and prevent last-minute surprises.
Ready to streamline you month-end close? |
← Visit Our Website https://www.greenkeyaccounting.com/
Comments