Leadership Articles and Videos by RAYMA Team

Month End Closing Checklist for Small Businesses

May 12, 2020

As a small business owner, you are often tasked with the responsibility of closing your books every month. If bookkeeping isn’t a strong skill of yours, you can find yourself overwhelmed and avoiding this necessary task. But, month end closing is necessary to make proper financial choices, set you up correctly for tax time, and help you have a proper view of the financial health of your company.

It takes time to close out your month and it can be stressful. But a checklist is a super easy way to keep you organized. The checklist below is a compilation of what I personally do as CFO of RAYMA team; and, industry best practices from financial software companies like  Quickbooks. (We have used the Plus level of Quickbooks online for 6 years). I have these steps saved as a text document in Basecamp and just print it out every month to check off tasks as I go.

Before we get to the steps let’s make sure we know what a month end close actually is. It’s...

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