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Close Process Checklist

Close Process Checklist

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Published by Audrey D. Chatman
Uploaded from Google Docs
Uploaded from Google Docs

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Categories:Types, Business/Law
Published by: Audrey D. Chatman on Jul 04, 2012
Copyright:Attribution Non-commercial

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01/15/2015

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<Company Name>
Close Process Checklist
<Date>
Note: This checklist should be updated each evening and submitted to the contr 
Close Process Checklist
ActivityActivity Owner
Pre-Close
Post final accounts receivable entriesKim RallsPost final accounts payable entriesPost final employee expense/payroll entriesPost other month-end entries (as required)
Day 1
Complete depreciation journal entriesPrepare and post recurring monthly journal entriesBegin preparing nonstandard journal entries(including intercompany, if applicable)
Day 2
Post nonstandard journal entriesClose subsidiary ledgers: fixed assets, payroll, A/P, andA/R
Day 3
Post remaining intercompany transactions(if applicable)Review to ensure intercompany balances are zeroedout and eliminatedDraft first version of financialsConduct preliminary review of financials (soft close)
Day 4
Complete bank reconciliations and post final cashPost revenue, cost, and tax accruals (as required)Draft revised financialsDraft revised footnotes and disclosures
Day 5
Conduct comprehensive review of financialsCreate and post final journal entries as requiredClose general ledger and release financials for CFOsignoff
Day 6
Release financial statements (including appropriatefootnotes and disclosures)Begin management reporting and rolling budget cycle
 
ller.
Activity SignoffStatusNotes
Kim RallsCompleteNeeded to back out invoice #123456, whichshould be posted to the current month.In progressNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot startedNot started

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