Closing out the month doesn’t have to be a last-minute scramble. By preparing and processing transactions ahead of time, posting accruals early, and reviewing expense accounts before the end-of-month deadline, you can streamline your closeout process. Timely payroll journals, accurate re-charge invoices, and well-maintained systems and documentation all contribute to a faster, smoother close, keeping your business one step ahead.
Plan Ahead for Success
- Prepare and process transactions in advance – dont wait until the last day.
- Post accruals and review expense accounts before EOM.
- Ensure payroll journals and re-charge invoices are posted on time.
- Keep your systems and documentation ready for fast closeout.
Weekly Bank Reconciliations
- Reconcile your bank accounts weekly – not just at month-end.
- Avoid last-minute reconciliations that can delay the final close.
- Reduce pressure on your finance team and eliminate potential errors.
Use a Standardised EOM Checklist
- Implement a structured checklist to ensure consistency and completeness.
- DAX Accountants can provide a custom-built EOM checklist using Microsoft Access – free of charge if you already have an MS Office subscription.
- No need for expensive third-party apps or subscriptions
Automate What You Can
- Automate repetitive tasks such as data imports, reconciliations, or reports.
- Integration between bookkeeping tools and your ERP or accounting software can save hours.
- Our team can help you custom-build databases and tools tailored to your needs (e.g., for fleet/vehicle tracking, staff costs, or sales analytics).
Aim to Close in 1-2 Business Days
- With the right systems and checklist, your EOM can be completed in just 1-2 business days.
- Timely and accurate reporting means better decisions and faster action.
- Our consultants will work closely with you to streamline, standardise, and speed up your EOM cycle.
Why DAX Accountants?
- Specialists in accounting and bookkeeping outsourcing for small businesses.
- Deep experience with MYOB, Xero, QuickBooks, SAP, and Access-based tools.
- Cost-effective solutions tailored to your tech stack and business goals.
- Responsive, experienced consultants who speak your language.
Lets Talk
Speak with one of our experienced consultants today. Let us show you how to reduce your end-of-month stress and free up your time for what really matters, growing your business.