period-close

Close Activity Checklist

Pre-Close Window (Final 2-3 Business Days of the Period)

• Distribute the close calendar with deadlines to every contributor
• Align cut-off procedures with AP, AR, payroll, and treasury teams
• Confirm all feeder systems (ERP modules, payroll platform, banking portals) are operating normally
• Perform a preliminary cash reconciliation covering all activity through the penultimate day
• Scan open purchase orders for items that may require an accrual
• Verify that the payroll processing schedule dovetails with the close timeline
• Gather details on any known non-routine transactions

Day 1 After Period End (T+1)

• Verify that every subledger module has completed its period-end cycle
• Post AP accruals for received-not-invoiced goods and services
• Record payroll entries and any pay-period straddle accrual
• Capture all cash receipts and disbursements through the final day
• Post intercompany entries and obtain counterparty acknowledgment