Prep and lock your period
Set the cutoff date, communicate it, and freeze late entries unless approved. Update vendor terms and 1099 settings while details are fresh.
Centralize statements (bank, card, payroll, loans) in a single folder per month with clear naming.
Key Takeaways
- One folder per month with statements + support avoids scavenger hunts.
- Late entries need an approver—no silent edits after cutoff.
Reconcile first, then review variances
Tie cash, cards, loans, sales tax, and payroll liabilities to statements with documented reconciling items (owner, reason, ETA).
Review P&L vs prior two months; flag >10% variances with a short note or fix.
Key Takeaways
- Attach screenshots for unusual entries so intent is obvious later.
- Track pending credits/refunds so next month’s story stays consistent.
Package the signal for leadership
Deliver a one-page summary: runway, margin trends, top customers, and decisions needed. Add a short Loom walkthrough.
Archive the summary, Loom link, and reconciliations together so audits are painless.
Key Takeaways
- Leaders read one page; anything longer becomes shelfware.
- Voiceover reduces back-and-forth and builds trust in the numbers.