---
title: "Month-end close"
description: "What is month-end close? The tasks that make a month's books complete and correct, then lock them. Learn the usual steps and what a faster close depends on."
url: https://1flux.ai/glossary/month-end-close
last_updated: 2026-10-10
---

[Accounting](https://1flux.ai/glossary#accounting)

# Month-end close

What is month-end close, and what does a fast close depend on?

Glossary Updated 10 October 2026

Definition

Month-end close is the set of tasks accountants complete after each month ends to make sure that month's books are complete and correct, then lock them against further changes.

## What is month-end close, step by step?

Typical steps include posting outstanding entries, reviewing accruals such as [goods received not invoiced](https://1flux.ai/glossary/goods-received-not-invoiced), reconciling bank, receivables and inventory to the ledger, checking intercompany balances, reviewing the [trial balance](https://1flux.ai/glossary/trial-balance) and closing the period. A fast close depends on transactions being posted as they happen, not in a rush at month-end.

Example: a trading company aims to close by the fifth working day, with drafts posted by day 2, GRNI and stock reconciled by day 3 and the period closed by day 5.

Closing the period stops anyone backdating entries into it.

In 1flux

The Accounting overview has a six-step close checklist that ticks itself as the work is done, and closed periods refuse every posting. [See 1flux Accounting](https://1flux.ai/products/accounting)

Related

## Keep exploring

### [Trial balance](https://1flux.ai/glossary/trial-balance)

Every account's balance, checked so debits equal credits.

### [Goods received not invoiced](https://1flux.ai/glossary/goods-received-not-invoiced)

A liability for goods received but not yet billed by the supplier.

### [Cutover date](https://1flux.ai/glossary/cutover-date)

The day you stop using the old system and start in the new one.

### [1flux Accounting](https://1flux.ai/products/accounting)

Books that keep themselves: every receipt, delivery, invoice and payment posts its own journal.

Last updated 10 October 2026