Monthly Financial Close Services
Complete monthly close process managed for you. Bank reconciliation, payroll reconciliation, all adjustments (prepaid, accrued, depreciation, interest). Statements delivered by the 10th in PDF and Excel.
Trusted by high-growth startups
Complete Monthly Close Services
Professional monthly financial close process delivered by the 10th business day. Complete reconciliations, GAAP-compliant adjustments, and comprehensive financial statements in PDF and Excel formats.
Why Monthly Close Timing Matters
Industry benchmarks show high-performing companies close their books quickly: SaaS companies in 3-5 days, manufacturing in 5-7 days. Late closes delay strategic decisions, cause missed board meetings, and signal weak internal controls to investors and lenders. A consistent close-by-the-10th cadence demonstrates operational maturity and enables timely financial analysis when it matters most.
Complete Close Process
Our monthly close service handles the full accounting cycle: transaction cutoff enforcement to prevent late entries, comprehensive bank and payroll reconciliations, all required adjusting entries (prepaid expenses, accrued expenses, depreciation, interest), management review with variance analysis, and delivery of complete financial statement package in both PDF executive summary and Excel detailed formats.
Industry-Leading Tools
We work with your existing accounting platform—QuickBooks Online, NetSuite, or other leading systems—and provide real-time dashboard access so you can monitor close progress throughout the month. Our team uses proven close checklists and automated reconciliation tools to ensure accuracy and consistency every single month.
How It Works
Transaction Cutoff & Validation
Enforce strict cutoff date for transaction recording. Review any late transactions for proper period assignment. Validate revenue recognition timing and expense matching to ensure all transactions belong in the current period.
Account Reconciliations
Reconcile all balance sheet accounts: bank accounts, credit cards, loan accounts, and intercompany balances. Investigate and resolve any discrepancies. Document timing differences and prepare supporting schedules for all reconciliations.
Payroll Reconciliation
Reconcile payroll accounts including gross wages, federal/state/local tax liabilities, benefit deductions (401k, health insurance), and employer taxes. Verify payroll expense matches provider reports and all liabilities are properly recorded.
Adjusting Entries
Record all month-end adjusting entries: amortize prepaid expenses (insurance, rent, subscriptions), accrue expenses incurred but not yet paid (utilities, interest, payroll), record depreciation on fixed assets, and accrue interest expense on loans and credit lines.
Management Review
Conduct comprehensive management review including variance analysis (actual vs budget, actual vs prior month, actual vs prior year), investigation of unusual transactions, review of key performance indicators, and discussion of highlights and concerns. Typically 30-45 minute review call.
Statement Delivery
Deliver complete financial statement package by 10th business day: Profit & Loss Statement, Balance Sheet, and Cash Flow Statement in both PDF executive summary format and Excel detailed analysis with supporting schedules and variance commentary.
Key Deadlines
Monthly Close Target
Target delivery date for complete financial statement package including P&L, Balance Sheet, Cash Flow Statement, and management commentary.
Board Meeting Deadline
Typical deadline for board package delivery. Closing by the 10th ensures adequate time for board prep materials and executive review.
Year-End Close
Annual close with additional tax adjustments, disclosure requirements, and audit preparation. Year-end close typically takes 5-7 additional business days for tax adjustments and audit prep.
Common Mistakes to Avoid
Late Transaction Recording
Misstated revenue and expenses in wrong accounting period, leading to inaccurate trend analysis and misleading financial statements.
Enforce strict cutoff policy with clear deadline communication. Review late transactions daily during close period and require management approval for any period adjustments.
Skipping Bank Reconciliation
Undetected fraud, cash balance errors, and potential audit findings. Bank reconciliation is fundamental internal control.
Make bank reconciliation non-negotiable monthly requirement. All bank accounts must reconcile to zero difference before close is considered complete.
Missing Accrued Expenses
Understated expenses and overstated profitability, particularly problematic for biweekly payroll periods and utility bills received after month-end.
Maintain comprehensive accrual checklist including payroll, utilities, interest, rent, and other recurring expenses. Review checklist monthly to ensure nothing is missed.
Incorrect Depreciation
Misstated asset values on balance sheet and incorrect expense allocation, leading to tax reporting issues and audit adjustments.
Maintain detailed fixed asset register with automated depreciation schedules. Review depreciation monthly and update for new asset acquisitions and disposals.
No Management Review
Accounting errors and unusual transactions go unnoticed until much later, making corrections more difficult and time-consuming.
Schedule mandatory 30-45 minute controller review call each month to discuss results, variances, and unusual items. Management input is critical for financial statement accuracy.
Inconsistent Close Timeline
Delayed strategic planning, missed board meetings, and signals weak financial controls to investors, lenders, and potential acquirers.
Establish documented close calendar with specific deadlines for each close step. Track close completion date monthly and investigate any delays immediately.
How Finvisor Manages Your Monthly Close
We handle your complete monthly close process from transaction cutoff through statement delivery, ensuring accuracy and consistency every month.
Proven Close Process
Our team has closed the books for hundreds of companies across industries. We follow a proven close checklist, use automation wherever possible, and maintain strict quality controls to deliver accurate financial statements by the 10th business day every month.
Controller-Level Expertise
Our accounting team includes controllers and senior accountants with Big 4 and industry experience. We understand complex accounting issues including revenue recognition, equity accounting, debt covenants, and multi-entity consolidations.
Real-Time Dashboard Access
Monitor close progress throughout the month with real-time dashboard access to your accounting platform. See which reconciliations are complete, which adjustments are pending, and track toward the 10th business day target with full transparency.
Frequently Asked Questions
What exactly is included in monthly close service?
Complete monthly close process including: transaction cutoff enforcement, bank account reconciliations, credit card reconciliations, payroll reconciliation, all adjusting entries (prepaid expenses, accrued expenses, depreciation, interest), management review with variance analysis, and delivery of financial statements (P&L, Balance Sheet, Cash Flow) in both PDF and Excel formats.
Why close by the 10th business day instead of faster?
The 10th business day balances speed with accuracy and completeness. It allows time for bank statements to post, credit card transactions to clear, payroll provider reports to finalize, and proper review of all adjustments. High-growth companies typically close in 3-7 days; the 10th is a conservative but professional target that ensures accuracy.
Do you work with QuickBooks, NetSuite, or other platforms?
Yes, we work with all major accounting platforms including QuickBooks Online, NetSuite, and others. Our team is platform-agnostic and experienced with each system. We use your existing platform and can provide recommendations for configuration and automation improvements.
What happens if transactions come in after the cutoff date?
Late transactions are evaluated on a case-by-case basis. If material to the financial statements, we discuss with management and may record a prior period adjustment. If immaterial, we record in the current period with documentation. Strict cutoff enforcement minimizes late transactions over time.
How long does the management review call take?
Typically 30-45 minutes. We present variance analysis (actual vs budget, actual vs prior periods), discuss unusual transactions, review key performance indicators, and address any questions or concerns. The call is focused and efficient, respecting your time while ensuring you understand your financial results.
Can we do year-end close faster than monthly close?
Year-end close typically takes 3-5 additional business days beyond normal monthly close due to additional tax adjustments, depreciation updates, audit preparation requirements, and year-end disclosures. We target year-end close by January 10th for December year-end.
What format do financial statements come in?
You receive both PDF executive summary (ideal for board presentations and management review) and Excel detailed analysis (for drill-down analysis and additional calculations). Excel files include supporting schedules, variance analysis tabs, and links to prior periods for trend analysis.
Who handles bank reconciliation—your team or ours?
Our team handles all bank reconciliations as part of monthly close service. We connect to your bank accounts via secure bank feeds in your accounting platform, perform the reconciliation, investigate discrepancies, and document timing differences. Bank reconciliation is included in monthly close.
Do you provide variance analysis and management commentary?
Yes, every monthly financial statement package includes variance analysis comparing actual results to budget, prior month, and prior year. We provide written management commentary highlighting key variances, unusual transactions, and important trends. The management review call discusses these findings in detail.
What if we miss the 10th business day target?
We investigate the root cause of any delay and document corrective actions. Common causes include late transaction recording, delayed bank statements, or complex accounting issues requiring additional research. We work to minimize delays and continuously improve the close process to meet the target consistently.
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Learn MoreReady to close your books faster?
Let us handle your monthly close process so you can focus on strategic decisions. Get accurate financial statements by the 10th business day, every month.