This article will give you a basic checklist of Month-end accounting tasks that we recommend the dealership complete
Please note:
- These are recommendations only
- It is up to the dealership to determine what end of month / end of financial year tasks they need to complete
- We would also suggest that you contact your accountant for their advice and guidance on what other reports etc that should be done
| Tasks and Resources (if applicable) |
| Task: Finalise all Cash Reconciliation for the month (Blackpurl) Link to Resource: What is a Cash Reconciliation / How to process a Cash Reconciliation |
| Task: End of Day Balancing of Cash Drawers (Blackpurl) Link to Resource: How to Process the End of Day Balancing of Cash Drawers |
| Task: Complete Bank Reconciliation (QuickBooks) Link to Resource: https://quickbooks.intuit.com/tutorials/lessons/reconcile-accounts/ |
| Task: Complete any other Control Account reconciliations Link to Resource - Account Reconciliations - Xero and QuickBooks Online |
| Task: Review Accounts Receivable Aging report to relevant General Ledger account (QuickBooks) Link to Resource: How to run Accounts Receivable Aging Report Does your Accounts Receivable Aging Report match the relevant General Ledger account? |
| Task: Review Accounts Payable Aging to General Ledger account (QuickBooks) Link to Resource: How to run Accounts Payable Aging Report Does your Accounts Payable Aging Report match the relevant General Ledger account? |
| Task: Close Month End in QuickBooks (QuickBooks) Link to Resource: How to close Month end in QuickBooks Online |