Owner Problem
A monthly close is more than downloading bank activity and labeling transactions. It is the process that turns activity into records the owner can use.
Without a close, the books may look updated while still missing transfers, owner activity, duplicate feed items, payroll detail, sales tax activity, or questions that need an owner answer.
How This Helps
- Confirms the right bank and card activity is included.
- Reviews transfers, owner draws, payroll, loans, and large purchases before they are treated as ordinary expenses.
- Sends owner questions while the month is still fresh.
- Produces reports that are easier to use for taxes, cash planning, and decisions.
Next Step
Use the tax strategy guide to identify the records that should be closed each month instead of rebuilt later.