A structured checklist for the month-end close process. Covers bank reconciliations, accruals, prepayments, revenue recognition, intercompany elimination, and final review. Assign tasks to team members with due dates and track completion.
What's included
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Step by step
Review the pre-built tasks and add, remove, or modify items to match your close process. Most companies have 20-40 close tasks.
Assign each task to a team member and set a due date relative to month-end (Day 1, Day 2, etc.). Front-load independent tasks.
During the close period, update task status daily. The template shows overall completion percentage and highlights overdue items.
At key milestones (e.g., after all reconciliations), the preparer and reviewer both sign off before proceeding to the next stage.
Watch out
Not having a standard close calendar — inconsistent processes lead to delays and errors
Leaving the final review to the last day with no buffer for corrections
Not documenting close procedures, making the process person-dependent
Skipping the bank reconciliation or doing it after the close deadline
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