Month-End Close Checklist
Work through the stages in order. Each one relies on the one before it being clean.
Cash & bank
- Banking module auto-matches feeds to books
- ApeX Lens captures and posts bank charges
- POS settlements reconcile to merchant payouts
- FX balances revalued at month-end rate
ApeX handles: Bank feeds auto-reconciled daily via the Banking module; POS settlements posted from the POS module; FX revaluation and petty cash counted automatically
Receivables
- Sales & Invoicing auto-issues cut-off invoices
- Cheque Manager tracks PDCs to due date
- AR ageing and ECL provision flagged live
- Intercompany receivables auto-agreed
ApeX handles: Invoices generated from the Sales & Invoicing module; PDCs tracked in Cheque Manager; AR ageing and ECL provision flagged in real time
Payables & prepayments
- Procurement auto-matches PO → GRN → invoice
- GRN without invoice auto-accrued
- Supplier statements reconciled to AP
- Prepayments amortised on schedule
ApeX handles: Three-way matching automated via the Procurement module (PO, GRN, invoice); supplier statements reconciled; prepayment amortisation scheduled
Payroll & provisions
- HR & Payroll reconciles to WPS file
- End-of-service gratuity accrued per cycle
- Leave and air-ticket entitlements accrued
- Bonuses, commissions and overtime booked
ApeX handles: Payroll reconciled to WPS via the HR & Payroll module; gratuity, leave and air-ticket accruals calculated every cycle
Inventory & fixed assets
- Inventory sub-ledger tied to GL live
- Slow and near-expiry stock auto-flagged
- Fixed-asset additions capitalised
- Depreciation posted and disposals removed
ApeX handles: Stock sub-ledger tied to GL live via the Inventory module; slow and near-expiry stock flagged; depreciation posted on schedule
VAT & corporate tax
- Tax module reconciles output and input VAT
- E-Invoicing validates FTA invoice fields
- Reverse charge on imports auto-applied
- CT accrual and non-deductible items tagged
ApeX handles: VAT reconciled via the Tax module; FTA invoice compliance checked on capture through E-Invoicing; reverse charge and CT accrual tagged automatically
Review & report
- Clear suspense accounts to zero
- Flux analysis vs last month and budget
- Management pack: P&L, BS, cash flow
- Sign off and lock the period
ApeX handles: Suspense auto-cleared; flux analysis and management pack generated
Dates to Diary
VAT return and payment
28 days after the tax period ends
Corporate tax return
9 months after the financial year end
A good close target
Books closed by working day 5