Bank Reconciliation and Month-End Close
A repeatable close checklist from reconciliations to reporting pack.
Taught by Pooja Adhikari · Chartered Accountant
What you'll learn
- Build a month-end close calendar with owners, deadlines and dependencies for every task
- Reconcile a bank account to the general ledger and explain every reconciling item
- Post accruals, prepayments and reversing journals so costs land in the right period
- Run the fixed asset register: additions, depreciation, disposals and the agreement to the ledger
- Reconcile control accounts for receivables, payables, payroll and sales tax to their sub-ledgers
- Assemble and review a management reporting pack, then lock the period with confidence
About this course
Month-end close is where bookkeeping becomes accounting. This beginner-friendly course gives bookkeepers, junior accountants and small-business owners a repeatable month-end close checklist they can run every period without panic. You will learn how to perform a bank reconciliation that actually ties, post accruals and prepayments, run depreciation and fixed asset movements, reconcile control accounts such as accounts receivable, accounts payable, payroll and VAT or GST, agree intercompany balances, and assemble a management reporting pack a reviewer can sign off. Every lesson uses worked journal entries and reconciliation templates you can copy into Excel, Xero or QuickBooks. Prerequisites: comfort with debits and credits and basic spreadsheet skills. By the end you will own a close calendar, a balance sheet reconciliation file and a review process that shortens the close and makes the numbers trustworthy.
Course content
7 lessons- 1Why the Close Matters and How to Plan ItWhat month-end close is for, the standard order of tasks and how to build a close calendar.Preview
- 2Bank Reconciliation Step by StepAgree the bank statement to the cash book, identify timing differences and fix real errors.
- 3Accruals, Prepayments and Reversing JournalsMatch costs and income to the period they belong to, and reverse the entries cleanly next month.
- 4Fixed Assets and Depreciation at Month EndMaintain the fixed asset register, post depreciation and disposals, and agree it to the ledger.
- 5Control Accounts: Receivables, Payables, Payroll and TaxReconcile each control account to its sub-ledger and clear suspense before you report.
- 6Intercompany, Balance Sheet Reconciliations and the Review FileAgree intercompany balances, reconcile every remaining balance sheet account and file the evidence.
- 7Review, the Reporting Pack and Locking the PeriodReview the trial balance analytically, build a concise management pack and lock the period.