Monthly Close Process & Document Filing

Monthly close cadence

Four fixed dates decide when a month is closed

Every month runs on the same cut-off, reconciliation, review, and reporting sequence. The dates below are the working baseline and are confirmed in writing when the engagement starts.

Day 3
Document cut-off
Invoices, bank statements, and contracts for the closing month reach the shared folder by 18:00 Kyiv time. Documents arriving later move to the following period.
Owner: client finance contact
Day 5
Bank and ledger reconciliation
Each account is matched line by line against the ledger. Unmatched items are listed with a reason code, so nothing disappears into a rounding line.
Owner: bookkeeping team
Day 8
Review and open questions
A reviewer checks classifications, accruals, and period boundaries, then sends you a short list of open items with the documents still needed.
Owner: senior reviewer
Day 10
Management report delivery
The profit and loss statement, balance sheet, cash position, and variance notes are filed in the monthly report folder alongside the closed ledger.
Owner: engagement lead

Preparing for the next cut-off? Work through the readiness checklist first, or book a close audit to compare these dates with your current timetable.

Filing method

Every document has a folder, a period, and a status

Files are stored by year, then month, then document type, and each folder carries a retention label. When a bank asks for March payroll, we open one path instead of searching an inbox.

Folder	Contents	Period	Retention	Status
/2025/03/sales	Invoices and acts of acceptance	03.2025	7 years	Filed
/2025/03/purchases	Supplier invoices and waybills	03.2025	7 years	Filed
/2025/03/bank	Statements and payment orders	03.2025	7 years	Filed
/2025/03/payroll	Payroll registers and tax statements	03.2025	7 years	In review
/2025/03/reports	P&L, balance sheet, cash position	03.2025	Permanent	Pending
/2025/02/close	Locked close pack for February	02.2025	Permanent	Locked

Retention labels describe our internal filing practice, not a legal opinion on statutory storage periods. Folder status moves from pending to in review to filed, and a closed month is locked. Next: read the monthly close cadence or run the readiness checklist.

Before the first close

Readiness checklist

Eight items we ask for before the first monthly close. Tick each one as it is confirmed and the count updates on this page only.

0of 8 ready

Chart of accountsCurrent accounts, entity structure, and any intercompany links named in writing.Ledger
Bank statement accessRead-only access or monthly exports for every account in scope.Bank
Sales documentsInvoices and primary documents issued during the period, numbered in sequence.Sales
Purchase documentsSupplier invoices, acts, and receipts with the matching contract reference.Costs
Payroll registerHeadcount, accruals, and payment dates for the month, including any changes.Payroll
Software accessAccounting file or export path, plus a named user who can answer access requests.Access
Prior period closeLast closed month, open items, and the folder where earlier documents are filed.History
Document ownerOne internal contact who collects documents and signs off each monthly close.Owner

Ticks stay in your browser and are not submitted. When most items are ready, send us the checklist and we will confirm the scope.

Four fixed dates decide when a month is closed

Document cut-off

Bank and ledger reconciliation

Review and open questions

Management report delivery

Every document has a folder, a period, and a status

Readiness checklist