Most companies do their books at year end, in a panic, a week before the auditor arrives. The companies that always know their numbers do a short close every month. Here is the checklist. Print it, or work through it in BizBooks.

The month-end checklist

Money in

  1. Record every invoice issued this month, including recurring invoices.
  2. Match every payment received to its invoice. Check bank statements for transfers that weren't flagged.
  3. Review aged receivables. Who owes you, and how late? Send reminders and escalate anything over 30 days. See how to get clients to pay on time.
  4. Log WHT deducted by clients and chase any missing credit notes.

Money out

  1. Record every expense, with a receipt or supplier invoice attached, and note any VAT on it (it's recoverable in 2026).
  2. Record unpaid supplier bills with their due dates, so you know what you owe.
  3. Record payroll: gross salaries, employer pension and statutory contributions.

Bank and cash

  1. Reconcile each bank account. The balance in your books should match the statement. Investigate every difference. Bank charges, stamp duty and transfer fees are the usual culprits.

Tax

  1. Prepare this month's remittances, due next month:

    • PAYE → State IRS by the 10th
    • Pension → PFAs within 7 working days of pay day
    • VAT return (output VAT − input VAT) → NRS by the 21st
    • WHT deducted from suppliers → NRS by the 21st (companies) or State IRS (individuals)

    See the full 2026 tax calendar.

Review

  1. Read your profit and loss. Are income and expenses where you expected? Is any category unusually high? See how to read a P&L.
  2. Check cash flow: money in against money out, and what's due in the next 30 days (payroll, bills, tax).
  3. File everything: receipts, supplier invoices, WHT credit notes and payslips, stored where your accountant can find them.

How long should month-end take?

For a company with a few dozen transactions a month, 2–4 hours is realistic if you record things as they happen. The biggest time sink is hunting for missing receipts and unmatched transfers. Fix that by snapping receipts the day you pay.

What do I send my accountant?

At minimum: the profit and loss, aged receivables and payables, a list of all transactions (CSV), VAT and payroll summaries, and copies of receipts and WHT credit notes. If your books are clean monthly, year-end accounts and tax returns cost less and take less time.

How BizBooks shortens month-end

Invoices, payments, recurring expenses and payroll are recorded as they happen, so most of steps 1–7 are already done. The dashboard shows overdue invoices and bills, the Taxes page lists what to remit and when, and Reports gives you the P&L, VAT report, aged receivables and payables, and a transactions CSV for your accountant. See bookkeeping and reports.

Frequently asked questions

What is a month-end close?

It's the routine of recording, checking and reviewing all of a month's transactions, so your books are accurate before you start the next month.

Why reconcile bank accounts every month?

Reconciliation catches missing income, duplicate payments, bank charges and fraud early, while the details are still fresh.

Do small companies need monthly bookkeeping?

Yes. Monthly VAT, PAYE and WHT deadlines depend on accurate monthly figures, and clean books make annual returns much cheaper.

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