Value Proposition: The Monthly Closing File is not just “sheets”; it is a delivery system: What has been closed? What are the adjustments? Where is the evidence? And who approved it? The Monthly Closing Handover template consolidates all Month-End outputs into a Ready Closing Pack (TB/Adjusted TB + Reconciliations + JE Log + Closing Memos) in a reviewable and traceable format, allowing the Chief Accountant or Financial Controller to receive the closing in minutes instead of searching through scattered files.

In 20 Seconds: What Will You Get?

• Ready Closing Pack: Handover index + Clear file breakdown (TB/Recs/JEs/Notes/Reports).
• Closing Reconciliations: Templates matching sensitive items (Bank/AR/AP/Inventory/FA/Accruals) with Tie-outs.
• Closing Adjustments File: Adjustments log (Accruals/Prepaids/Reclass/Adjustments) with entry number and attachments.
• Closing Memos: Short memos for each significant item (What changed? Why? What is its impact on TB/FS).
• Adjusted TB + Control Totals + Explanation of Period Movements.
• Chief Accountant Handover Template: Handover page summarizing the status (Closed/Open items/Exceptions) with signatures.
• Completion Checklist: What must be “present” before approving the closing.

CTA related to outputs: Receive Closing Pack Index + Reconciliations + JE Log + Memos + Sign-off as a monthly delivery package.

Suitable For

• Chief Accountant: Wants to receive the closing from the team with organized evidence instead of “scattered files.”
• Financial Controller: Wants a monthly closing pack that is suitable for internal and external review.
• Multi-branch/Entity Company: Needs to standardize the delivery format across branches and track exceptions.

Not Suitable For

• Those who do not perform monthly reconciliations or do not extract sub-ledger reports (Reconciliations will not be complete).
• Those who want a “Checklist only” without outputs and evidence (the product is delivery + evidence, not just a task list).

Without Closing Pack / With Closing Pack (Brief Comparison)

Before Use: 5 Symptoms That the Closing is “Not Deliverable”

• The team says “it’s closed” but there is no Pack proving what has been done and what hasn’t.
• Monthly adjustments exist as entries in the system without memos or unified attachments.
• Bank/AR/AP reconciliations are done partially with no Tie-out to GL.
• Each month the Pack is prepared differently depending on the person, making comparison difficult.
• When asked by the auditor: “Where is the evidence for this balance?” the search begins among disorganized folders.

Monthly Closing Handover: Implementation Method (3 Steps Without Gaps)

Step 1: Preparation and Gathering Closing Reports

• Extract TB/GL Details for the period after closing operational entries.
• Extract Sub-ledger reports: AR aging/AP aging/Bank statements/Inventory/FA movements.
• Identify the expected list of reconciliations (Accruals/Prepaids/Reclass/Provisions).

Step 2: Reconciliations + Adjustments + Closing Memos

• Run Closing Reconciliations and link them to the GL (Tie-out for each item).
• Compile the Closing Adjustments File (JE log) and link each entry with an attachment/affected account.
• Write Closing Memos for items that have changed significantly or involve judgments/estimates.

Step 3: Adjusted TB + Ready Closing Pack + Sign-off

• Issue the final TB/Adjusted TB + Control totals.
• Compile the Ready Closing Pack into a single index + Evidence index.
• Sign the Chief Accountant Handover Template: What has been closed? What is open? What are the exceptions?

File Components (Clear Inventory)

1. Closing Pack Index (Ready Closing Pack Index)
   • Practical Purpose: Identify the contents of the delivery and the location of each file and its version.
   • When Used: Every month when preparing the Pack and before its approval.
   • Resulting Evidence: Index + Links/Paths of files + Status for each part.
2. Reconciliations Pack (Closing Reconciliations)
   • Practical Purpose: Validate balances of sensitive items by matching Sub-ledger/External statement with GL.
   • When Used: Month-End before approving the final TB.
   • Resulting Evidence: Recs with Tie-out and explanation of variances + Prepared/Reviewed signature.
3. Closing Adjustments & JE Log (Closing Adjustments File)
   • Practical Purpose: Document each adjustment: entry number, description, accounts, amount, support, and who approved.
   • When Used: During the closing process until the final version is closed.
   • Resulting Evidence: JE log + Attachments + Link to the impact on TB.
4. Closing Memos
   • Practical Purpose: Explain items that involve estimates/judgments or significant changes: Why? And how were they calculated?
   • When Used: For items that frequently raise questions (provisions/accruals/revenue cut-off…)
   • Resulting Evidence: Short Memo + References/Affected accounts + Reviewer signature.
5. TB / Adjusted TB + Control Totals
   • Practical Purpose: Establish the approved TB version for the period and link it to the delivery outputs.
   • When Used: At the end of the closing as a “final” reference.
   • Resulting Evidence: TB file + control totals + approved version.
6. Open Items & Exceptions Register
   • Practical Purpose: Record what has not been closed and why, and the closing plan (Owner/Deadline) instead of leaving it verbal.
   • When Used: When there are pending items (not receiving a statement/delayed invoice/reconciliation discrepancies).
   • Resulting Evidence: Open items register + Follow-up on closure.
7. Closing Handover Page (Chief Accountant Handover Template)
   • Practical Purpose: Handover page summarizing the closing status and confirming receipt/approval.
   • When Used: Last step before issuing reports or sending files to the auditor.
   • Resulting Evidence: Handover + Sign-off (Prepared/Reviewed/Approved).
8. Evidence Index + Version Control
   • Practical Purpose: Link each output to its evidence and extraction date (for archiving and auditing) and prevent multiple versions.
   • When Used: When compiling the Pack and upon any audit request.
   • Resulting Evidence: Evidence index + version register + Storage paths.

Outputs: Ready Closing Pack + Reconciliations + JE Log + Memos with Evidence index and Sign-off.

What Should Be Included in the Delivery?

• 01-Index: Closing Pack index + Period scope + Closing date + Version.
• 02-TB: TB/Adjusted TB + GL details + Control totals.
• 03-Recs: Closing Reconciliations (Bank/AR/AP/Inventory/FA/Accruals) + Tie-outs + Variances.
• 04-JE: Closing Adjustments File (JE log) + Attachments + Approvals + Impact on TB.
• 05-Memos: Closing Memos for significant items + Calculation methods + Data sources.
• 06-Open Items: Open items register + Owner/Deadline + Closure plan.
• 07-Handover: Chief Accountant Handover Template + Prepared/Reviewed/Approved signatures.
• 08-Evidence: Evidence index + Storage paths + Version control.

After Implementation (Two Points Only)

• Operational Outcome for the Team: The closing becomes deliverable: each part has a place, Owner, and Status, reducing internal questions and speeding up the transfer of responsibility.
• Control/Audit Outcome: Any balance in the TB has a related Reconciliation/JE/Memo, and everything within the Closing Pack is indexed with Evidence index and Sign-off.

FAQ — Questions Before Purchase

Is this product just a Checklist for closing?

No. This is a Closing File Handover Template: Pack index + Outputs + Evidence + Sign-off. The checklist is a small part to ensure completeness.

Is it suitable for any accounting/ERP system?

Yes. Because you will extract TB and Sub-ledger reports and place them into the Pack in a standardized format, regardless of the system.

Does it cover monthly adjustments only or annual ones as well?

The basis is Month-End, and it can be expanded to Quarter/Year-End by adding Tabs/Sections for year-end requirements (Provisions/Impairment/Tax/External audit requests).

Does it include Reconciliations for all items?

It covers the most requested sensitive items (Bank/AR/AP/Inventory/FA/Accruals). Additional items can be added based on your activity.

What is the minimum data required?

TB + GL details + AR/AP reports + Bank statement + (if applicable) Inventory/Fixed Assets + List of adjustments and monthly entries.

How does it assist the Chief Accountant in receiving?

Through the Chief Accountant Handover Template: a single page summarizing the status and linking it to the contents of the Pack and confirming signatures.

Does it help reduce auditor questions?

Yes, because the Evidence index links each balance to its evidence, making the answer to “Where is the evidence?” part of the structure rather than a search effort.

Is there Version control?

Yes: Version register + Sign-off confirms the approved version for the period to avoid the issue of Draft/Final without control.

Ready to Receive the Closing as a Package of Evidence Instead of Scattered Files?

Outputs: Ready Closing Pack + Closing Adjustments File + Closing Reconciliations + Closing Memos with Index and Sign-off.