On this page
A repeatable monthly close checklist for invoices, bank reconciliation, tax records, payroll, and open questions.
1. Collect the month’s evidence
Gather issued sales invoices, supplier bills, receipts, credit notes, bank statements, and payment processor reports. Note missing documents while the activity is still recent. Keep the supporting files in a consistent location.
2. Reconcile each account
Match the bank balance to the accounting records for each included account. Investigate unmatched deposits, duplicate entries, fees, transfers, and old outstanding items. A reconciled balance is a checkpoint, not a substitute for reviewing classifications.
3. Review tax and payroll inputs
For VAT-registered businesses, check tax codes and supporting invoices before the assigned filing period closes. Review payroll totals against approved inputs and the business’s applicable employer requirements. Corporate tax record keeping benefits from clear expense descriptions and supporting documentation.
4. Close with an exceptions list
Record questions that require an owner decision: missing invoices, unusual payments, unpaid customer balances, or transactions needing tax review. Agree who will resolve them and when. Save a concise month-end summary so the next close starts from a known position.
This is general information as at 4 November 2026. Current rules and your business circumstances determine the right action.
Official sources
Common questions
How often should bank accounts be reconciled?
A monthly reconciliation is a practical baseline for many businesses. Higher-volume operations may benefit from more frequent review.
Does this checklist replace tax advice?
No. It supports organised records. Specific VAT, corporate tax, payroll, and filing decisions depend on the entity and current rules.