Monthly Close & Reporting
The close is the only deliverable in bookkeeping that matters. Everything else — categorization, receipt capture, bill pay — exists so that on a fixed date each month you can hand someone a set of statements that tie, and defend every number on them.
This section covers what a close actually consists of, how long it should take at your size, and the specific places we find errors when we take over a set of books.
What a close consists of
Stop posting, chase missing receipts, confirm all bank feeds have landed.
Every bank, card, loan, and merchant account, to the statement, to the penny.
Accruals, prepaids, depreciation, payroll, deferred revenue release.
Second-set-of-eyes review, variance commentary, then send the package.
Everything in this section
Want this handled instead of studied?
Compass East will look at your last close and tell you where the gaps are. Free, thirty minutes, findings in writing.
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