Closing your books by the 5th of every month isn't a magic trick, it's a repeatable process. The same checklist, run in the same order, every single month. Here's exactly what we do for every client, every month.

Week 1 (Days 1 to 5 of the New Month)

Day 1 to 2: Collect All Data

Download all Shopify payout reports for the prior month
Download all Amazon settlement reports
Export bank statements for all accounts
Export credit card statements
Collect any supplier invoices received during the month
Collect PayPal, Stripe, or other processor reports

Day 2 to 3: Reconcile Revenue

Post each Shopify payout as gross sales minus fees minus returns
Post each Amazon settlement with full fee breakdown
Verify gross revenue by channel matches platform reports
Record any direct sales or other income

Day 3 to 4: Reconcile Expenses and Bank

Categorize all bank transactions
Categorize all credit card transactions
Record any supplier payments and match to invoices
Post payroll entries if applicable
Record inventory purchases and update inventory asset

Day 4 to 5: Close and Review

Reconcile all bank accounts (balance per books = balance per statement)
Reconcile all credit card accounts
Update inventory value, count or estimate ending inventory
Calculate and post COGS based on inventory movement
Review P&L for any obvious anomalies
Generate and deliver P&L, Balance Sheet, and Cash Flow Statement

Common Reasons Closes Get Delayed

Missing documents. Supplier invoices that haven't been sent, credit card statements that take time to generate. Solve this by setting up automatic document collection at the start of each month.

Unreconciled transactions. One unexplained transaction can hold up an entire close. Maintain a running list of open items throughout the month so you're not chasing them in the final days.

Inventory discrepancies. If your inventory count doesn't match your books, close is blocked. Run a physical count or reconcile your inventory management system at least monthly.

How to Get Consistently Fast Closes

The key is to not leave work until the last week of the month. Reconcile Shopify payouts as they come in. Categorize bank transactions weekly. By the time the month ends, you're doing review and final reconciliation, not starting from scratch.

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