close-management

# Close Management

**Important**: This skill assists with close management workflows but does not provide financial advice. All close activities should be reviewed by qualified financial professionals.

Month-end close checklist, task sequencing and dependencies, status tracking, and common close activities organized by day.

## Month-End Close Checklist

### Pre-Close (Last 2-3 Business Days of the Month)

- [ ] Send close calendar and deadline reminders to all contributors
- [ ] Confirm cut-off procedures with AP, AR, payroll, and treasury
- [ ] Verify all sub-systems are processing normally (ERP, payroll, banking)
- [ ] Complete preliminary bank reconciliation (all but last-day activity)
- [ ] Review open purchase orders for potential accrual needs
- [ ] Confirm payroll processing schedule aligns with close timeline
- [ ] Collect information for any known unusual transactions

### Close Day 1 (T+1: First Business Day After Month-End)

- [ ] Confirm all sub-ledger modules have completed period-end processing
- [ ] Run AP accruals for goods/services received but not invoiced
- [ ] Post payroll entries and payroll accrual (if pay period straddles month-end)
- [ ] Record cash receipts and disbursements through month-end
- [ ] Post intercompany transactions and confirm with counterparties
- [ ] Complete bank reconciliation with final bank statement
- [ ] Run fixed asset depreciation
- [ ] Post prepaid expense amortization

### Close Day 2 (T+2)

- [ ] Complete revenue recognition entries and deferred revenue adjustments
- [ ] Post all remaining accrual journal entries
- [ ] Complete AR subledger reconciliation
- [ ] Complete AP subledger reconciliation
- [ ] Record inventory adjustments (if applicable)
- [ ] Post FX revaluation entries for foreign currency balances
- [ ] Begin balance sheet account reconciliations

### Close Day 3 (T+3)

- [ ] Complete all balance sheet reconciliations
- [ ] Post any adjusting journal entries identified during reconciliation
- [ ] Co