Accounts Receivable Month-End Close Checklist Template
A month-end close checklist focused specifically on the accounts receivable cycle. Covers invoicing cutoff, cash receipts cutoff, collections aging, allowance review, subledger reconciliation, and AR sign-off.
How to use this template
Confirm invoicing cutoff
Verify all invoices for goods shipped or services delivered before month-end have been generated and recorded in the correct period.
Apply all cash received through month-end
Post all customer payments received on or before the last day of the month. Flag any lockbox items still in transit.
Run the AR aging report
Generate the final AR aging for the period. Verify totals agree to the AR GL balance before any allowance adjustments.
Review and post allowance for doubtful accounts
Assess the adequacy of the allowance based on the aged receivables. Post an adjusting journal entry if the allowance requires a true-up.
Reconcile AR subledger to GL and obtain sign-off
Confirm the subledger total ties to the GL control account. Obtain controller or CFO sign-off before locking the period.
Why use this template
- Invoicing cutoff step ensures revenue is recognized in the correct period
- Allowance review aligns with GAAP requirements for bad debt estimation
- Subledger-to-GL reconciliation prevents AR overstatement or understatement
- Sign-off process creates clear accountability for the AR close
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