End-of-Month Financial Routine You Can Steal Today
Running a business is demanding—and the end of the month always seems to come too fast. But having a simple, repeatable routine for wrapping up your books can be a game changer.
At SMP Financial Services, we use a proven checklist to make sure every dollar is accounted for, and every client is set up for success. Here’s the routine you can steal today.
🔄 Step 1: Reconcile All Bank & Credit Card Accounts
This ensures your books match your actual balances and helps catch fraud, errors, or missing transactions. Don’t skip it.
đź“… Step 2: Review Income and Expenses
Look for anything miscategorized or unusual. This is your opportunity to:
Catch duplicate or missing entries
Reallocate items to the correct accounts
Identify trends (good or bad)
đź“‹ Step 3: Record Any Month-End Adjustments
Did you pay a bill but forget to enter it? Receive income not yet deposited? Enter any journal entries, depreciation, or one-time adjustments.
đź“Š Step 4: Review Your Financial Reports
Run and review:
Profit & Loss Statement
Balance Sheet
Cash Flow or AR/AP Aging (if applicable)
Compare them month to month to spot trends or anomalies. This keeps you proactive, not reactive.
🌟 SMP Pro Tip: Document It All
Save reports, notes, and comments in your financial folder for that month. If you're ever audited or want to reference changes later, you’ll thank yourself.
