Overview
Month-end closing is the routine review that confirms the month is ready for management reports, VAT review, financial statements, and audit follow-up. QBM does not replace company policy, but it gives users the reports and controls needed to close with confidence.
Important: Do not close or lock a month until invoices, receipts, bills, bank activity, inventory, payroll, and tax have been reviewed by the responsible users.
Where to find it
Path: Company > Closing / Fiscal Management, then use this checklist from Help > Help Center.
Use this path from the main QBM window. If the command is not visible, confirm that the user has access to the related module and permission for that screen.
Before You Start
- Confirm all users finished entry for the month.
- Create a database backup before major corrections or closing activity.
- Confirm the reporting date range is the correct month.
- Review user permissions for posting, editing, deleting, and closing.
Operational Checks
| Area | Check |
|---|---|
| Sales | Review invoices, sales receipts, credit memos, refunds, open orders, delivery notes, and customer payments. |
| Purchases | Review purchase invoices, pay bills, vendor credits, received items, and open purchase orders. |
| POS | Close or review POS batches, daily sales reports, cash totals, refunds, and payment methods. |
| Inventory | Review stock adjustments, transfers, physical inventory, negative stock, serials, lots, and cost changes. |
| Payroll | Post payroll entries, review payslips, time entries, and employee-related accruals where used. |
Accounting Checks
- Reconcile bank accounts against bank statements.
- Review undeposited payments and unmatched deposits.
- Review accounts receivable and accounts payable aging.
- Review VAT or tax transactions before filing.
- Run Trial Balance and confirm debit and credit totals match.
- Review Profit and Loss and Balance Sheet for unusual movements.
- Post recurring journals, depreciation, accruals, and adjustments as needed.
Reports To Save
| Report | Why Save It |
|---|---|
| Trial Balance | Confirms account balances at month end. |
| Profit and Loss | Shows monthly income and expenses. |
| Balance Sheet | Confirms assets, liabilities, and equity. |
| A/R and A/P Aging | Supports collection and payable review. |
| Inventory valuation or stock reports | Supports stock control and costing review. |
| VAT or tax reports | Supports tax filing and audit records. |
After Review
- Save the final report package as PDF or Excel based on company policy.
- Restrict changes to non-current transactions if required by management.
- Communicate the closing date to users before the next month begins.
- Keep a backup after closing so the final state can be restored if needed.