Close the month in two days, not ten
Month-end close is the moment you find out whether your numbers are right. For many small teams it is also the most dreaded week of the month. It does not have to be: a fixed checklist and a few automations turn it into a routine.
- Make sure every bank and card transaction is imported.
- Match receipts and invoices to their transactions.
- Chase the missing ones – with a deadline.
- Reconcile each account against its statement.
Before the month ends
The fastest closes start early. In the last week of the month, ask card owners for missing receipts, send reminders for unpaid invoices and confirm payroll numbers. Every item you clear now is one less blocker on day one.
The core of the close
Once the month is over, work through the same steps in the same order every time. Consistency is what makes the close fast.
- Reconcile bank, card and payment accounts
- Record accruals for costs you know about but have not been billed for
- Review revenue and deferred revenue
- Check payroll and tax liabilities
“We used to close in the second week of the month. With a checklist and automatic matching we close by the second working day.”
Review before you report
Compare this month to last month and to budget. Big swings usually mean a missing invoice, a duplicate or a miscategorised payment – much easier to fix now than at year-end.
Share the numbers
A close is only useful if people see the result. Send a one-page summary to founders and team leads: cash, burn, runway and the three numbers that changed most. Digipay’s monthly report does this for you in one click.
