月末财务结算清单
月末结算流程包括记录、核对和审查业务交易。公司负责人不仅要经营业务,还要处理很多公司事项,因此对他们来说这一流程非常耗时。 只需建立一个固定模式并按照月末结算清单处理就可以简化 月度财务结算 流程。
1、制定财务管理计划表
与其将整个财务审查留到月底,不如日常尽可能多地进行处理。 虽然一些公司并未成立专门的财务团队来管理财务事项,但制定计划表将有助于完善问责制,使您的团队在工作中有所侧重,满足某些重要事项的最后期限。
2、随时记录支出和收入
Recording and saving the entire month’s income and expenses in detail makes it easier to cope with month-end review tasks. Sales proceeds, rental income, debt repayments and investment income should all be included in the review. Document all expenses in as much detail as possible, including utilities, insurance premiums, supplier payments, payroll, business travel expenses, and interest on business loans, among others.
3. Check the accounts
Reconciling cash and credit card transactions ensures that all transactions for the month are posted and correctly categorized, allowing for better analysis of results. Timely reconciliation of customer receipts, outstanding invoices, and bills paid by suppliers allows you to track outstanding accounts from customers and payments that need to be paid by suppliers, and better manage customer accounts and cash flow needs.
4. Determine the adjustment items
Identify adjustments to match a company’s income and expenses within the same accounting period to more accurately summarize a company’s monthly performance. Common adjustments may include recognition of realized revenue and incurred but unbilled expenses, amortization of prepaid expenses, and depreciation of fixed assets.
5. Check fixed assets and liabilities
Keep a timely record of the company’s fixed assets (such as buildings, vehicles, and equipment), any related purchases, maintenance, or renewals. As assets continue to depreciate in value, it is imperative to keep track of the current value and condition of these assets. The asset review should also include business loan documentation as well as payment progress.
6. Assess inventory
For enterprises that keep inventory, inventory should be completed regularly to understand which products need to be replenished and the frequency of replenishment. Accurately understanding inventory conditions is critical to determining when adjustments are required.
7. Review and analyze the results
Continuously review your company’s financial data, analyze trends, and track financials. Identify key data points and reports to prepare to monitor key metrics and inform business decisions.
8. Make changes and adjustments as needed
The end-of-month review is not just a checklist to be done, but also facilitates adjustments. The results of the monthly review should be used to inform financial decisions for the next fiscal period to help achieve the company’s short-term and long-term goals.
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If you need support with month-end closing or any other outsourced accounting, we can help. Please contact our CAS team.