How-To: Month-End Close Checklist

A smooth month-end close keeps your business organized, accurate, and ready for tax time. Whether you’re a small business owner or managing multiple accounts, following a consistent checklist ensures nothing slips through the cracks.

Why Month-End Close Matters

1. Keeps your financial records clean
2. Helps you catch errors early
3. Improves cash-flow visibility
4. Makes tax filing MUCH easier

Your Month-End Close Checklist

Here’s a simple, efficient workflow you can use every month:

1. Reconcile Bank Accounts
   Match your bank statements with your accounting records to ensure accuracy.

2. Review Income & Expenses
   Categorize all transactions — sales, purchases, utilities, and operational costs.

3. Update Accounts Receivable & Payables
   Note who owes you and who you need to pay.
   Send reminders for overdue invoices.

4. Record Payroll & Statutory Deductions
   Make sure PAYE, NHT, NIS, and other payroll obligations are properly recorded.

5. Check Inventory, If Applicable
   Update stock levels and record losses or adjustments.

6. Generate Financial Statements
   Review your profit and loss, balance sheet, and cash flow for red flags.

How Fedha Books Helps

Automated bookkeeping and smart reminders make month-end close quick, accurate, and stress-free — no spreadsheets needed.

How-To: Cash Flow in 30 Minutes

Managing cash flow doesn’t need to take all day. With the right system, you can understand your financial health in under 30 minutes.

Step 1: Check Incoming Cash

Look at the payments you received this week or month.
Ask: Are customers paying on time? Are sales trending up or down?

Step 2: Review Outgoing Cash

List your major expenses:

1. Payroll
2. Rent
3. Inventory
4. Utilities
5. Loan payments

Knowing what’s due soon helps you avoid shortfalls.

Step 3: Compare Income vs. Expenses

If expenses are rising faster than income, it’s time to cut costs or boost sales.

Step 4: Look at Upcoming Obligations

Review upcoming tax deadlines, vendor invoices, and payroll dates.
A few minutes of planning prevents major cash crunches.

Step 5: Update Your Cash Flow Forecast

A simple forecast tells you what your balance will look like in the weeks ahead.

How Fedha Books Helps

Fedha Books automatically tracks payments, expenses, and forecasts — giving you a real-time cash flow snapshot anytime you need it.

How-To: Get Clients to Pay Faster

Late payments drain your cash flow and slow down your business growth. The good news? A few simple strategies can dramatically improve how quickly customers pay you.

1. Send Clear, Professional Invoices

Make sure your invoices include:

• Due date

• Itemized charges

• Payment methods

• Late fee policy (if you use one)

Clear invoices = faster payments.

2. Invoice Immediately

The sooner you send it, the sooner you get paid.
Don’t wait until the end of the month.

3. Offer Multiple Payment Options

Bank transfer, card payment, mobile wallet — make it easy for clients to say “yes.”

4. Set Automated Reminders

Friendly reminders help clients stay on track without you chasing them manually.

5. Incentive Early Payment

Offer small discounts for paying early — it often works better than charging late fees.

6. Follow Up Consistently

A quick message or call can resolve issues before they turn into delays.

How Fedha Books Helps

Fedha Books automates invoicing, reminders, and tracking — so you get paid faster without doing the work manually.