Tips for Meeting Financial Reporting Deadlines

Last quarter, I witnessed our accounting team implode during month-end close: - Reports to the CFO delivered days late. - Three critical journal entries completely missed - Bank reconciliations with $14,000 in unexplained variances. The consequences were severe: weekend overtime, auditor findings, and eroding trust from leadership. This wasn't just an organizational issue. It threatened our financial integrity and the team's professional reputation. After analyzing what went wrong, I implemented a comprehensive month-end control system: 1. Documentation First:  → Created detailed process maps for each closing task. 2. Tiered Checklist System:  → Developed role-specific checklists with dependencies clearly marked. 3. Verification Points:  → Established key checkpoints requiring senior approval. 4. Digital Integration:  → Built automated notifications for missed deadlines or variances 5. Review Cadence:  → Implemented daily close meetings with visual tracking The result? Within one quarter: - Zero missed journal entries - All reports delivered on schedule - Unexplained variances reduced to under $500 Even our most experienced team members now rely on this framework. They've realized that "doing it from memory" isn't professional confidence. it's unnecessary risk. Is your accounting team still closing books without a comprehensive system? #monthend  #checklist  #finance  

Want to cut your month-end close time in half? Start with a checklist. It sounds simple — and it is. But it's also one of the most effective tools I’ve used to help clients reduce close times by 30–50%. When you're juggling deadlines, documentation, and team coordination, even small details can slip through the cracks. A standardized accounting month-end checklist brings structure, consistency, and accountability to the process. Here’s what an effective checklist should include: ➡️ Every task required for close ➡️ The team member responsible for each step ➡️ Expected completion dates ➡️ Space to document issues or delays You don’t need fancy software. You just need a clear, repeatable process that your team can rely on month after month. The result? Faster closes, fewer errors, and more reliable financial reporting. Is your team using a month-end checklist today? If so — what’s made it most useful? If not — what’s holding you back? _____________________________________________ 👋 I'm Melissa Armstrong, CPA*, fractional controller, and founder of SteadyHand Accounting & Advisory.   *𝗡𝗼𝗽𝗲𝗅 𝗜 𝗱𝗼𝗻'𝘁 𝗱𝗼 𝘁𝗮𝘅𝗅

How to get more out of your financial close (+FREE: My top 10 infographics) Does your month-end close look like this: ➣ Endless follow-ups ➣ Last-minute fire drills ➣ Variances you can’t explain ➣ Not enough time to discuss results --- 💡 Get my top 10 most popular FP&A infographics for FREE at https://lnkd.in/eihTAhTW --- If that’s the case, you need to do something. This can help: #1 Create a complete checklist • Include who needs to do what, and by when.    • List every last action item of the recurring process. It will free up your team because instead of having to try not to forget anything, they can focus on root causes.    #2 Make sure everyone has the checklist • Depending on the size of your team and the complexity of your process, it may not be enough to send an email.    • A brief meeting helps to emphasize the importance and answer questions.    #3 Make sure everyone knows WHY the things on the list matter • Empowering the team means they have enough context to come up with process improvements.    • The foundation is that each team member fully understands why their action item matters. #4 Check expected results a week before the close • You can start asking questions before the actuals are final.    • That helps avoid the last-minute rush to get answers from business partners.    #5 Have an ongoing conversation about pain points • Every month, ask your team and involved operational teams what should be improved.    • The key is not to expect solutions, so people are more likely to speak up about pain points. #6  Tweak the process to get a bit better every month • Try to experiment every time with making a small change.    • Then, assess the impact, keep what works, and don't hesitate to stop what doesn't. 📌 Do you have any other tips? Comment below. -Christian About me: 🏫 I teach FP&A skills to finance teams and business leaders. 🖥️ I spent 15+ years in FP&A leadership roles at P&G, Unilever, Squarespace. 🎓 Now, I'm a full-time corporate trainer, online course creator, and the Director of the Wharton School's FP&A Certificate program. 🗣️ To learn more, visit FPAprep[dot]com or email me at hello[at]FPAprep[dot]com.