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Close Process Checklist1
Close Process Checklist1
Note: This checklist should be updated each evening and submitted to the controller.
Day 1
Complete depreciation journal entries Not started
Close subsidiary ledgers: fixed assets, payroll, A/P, and Not started
A/R
Day 3
Post remaining intercompany transactions Not started
(if applicable)
Review to ensure intercompany balances are zeroed Not started
out and eliminated
Draft first version of financials Not started
Day 4
Complete bank reconciliations and post final cash Not started
Post revenue, cost, and tax accruals (as required) Not started
Day 5
Conduct comprehensive review of financials Not started
Close general ledger and release financials for CFO Not started
signoff
Day 6
Release financial statements (including appropriate Not started
footnotes and disclosures)
Begin management reporting and rolling budget cycle Not started