Financial Close Workflow
This skill provides a structured workflow for month-end and year-end close using the accounting-specialist agent.
Workflow Overview
The financial close workflow follows 6 phases:
| Phase |
Name |
Description |
| 1 |
Pre-Close |
Prepare for close, gather data |
| 2 |
Transaction Processing |
Complete period transactions |
| 3 |
Reconciliations |
Reconcile all accounts |
| 4 |
Adjustments |
Post adjusting entries |
| 5 |
Review |
Quality review and sign-off |
| 6 |
Finalization |
Close period, prepare reports |
Phase 1: Pre-Close
MANDATORY: Complete pre-close checklist before proceeding
Pre-Close Tasks
| Task |
Description |
| Calendar review |
Confirm close dates |
| Cutoff communication |
Notify stakeholders of deadlines |
| Open items review |
Identify carryover items |
| System readiness |
Verify system availability |
Pre-Close Checklist
| Item |
Status |
| Prior period closed |
Required |
| Subledgers ready |
Required |
| Bank statements received |
Required |
| Intercompany confirmed |
Required |
| Cutoff communicated |
Required |
Blocker Check
If ANY of these are missing, STOP and ask:
- Prior period closed
- Bank statements available
- Key source data ready
- System access confirmed
Phase 2: Transaction Processing
MANDATORY: Complete all period transactions
Transaction Types
| Type |
Description |
| Revenue |
Sales, services, other income |
| Expenses |
Operating, non-operating |
| Payroll |
Salaries, benefits, taxes |
| Inventory |
Receipts, shipments, adjustments |
| Fixed Assets |
Additions, disposals, depreciation |
Cutoff Procedures
| Area |
Procedure |
| Revenue |
Review shipments around period end |
| Expenses |
Review invoices received post-close |
| Payroll |
Confirm payroll period alignment |
| Inventory |
Physical count if applicable |
Phase 3: Reconciliations
MANDATORY: Reconcile ALL balance sheet accounts
Agent Dispatch
Task tool:
subagent_type: "accounting-specialist"
model: "opus"
prompt: |
Perform period-end reconciliations:
**Period**: [close period]
**Entity**: [entity name]
**Accounts to Reconcile**:
- Cash and bank accounts
- Accounts receivable
- Inventory (if applicable)
- Prepaid expenses
- Fixed assets
- Accounts payable
- Accrued expenses
- Intercompany (if applicable)
- Debt
**Prior Period Workpapers**: [attached]
**Required Output**:
- Reconciliation for each account
- Reconciling items identified
- Supporting documentation
- Sign-off status
Reconciliation Standard
| Element |
Requirement |
| GL balance |
From trial balance |
| Subledger/Bank |
From supporting system |
| Reconciling items |
Each item explained |
| Support |
Documentation attached |
| Sign-off |
Preparer and reviewer |
Required Reconciliations
| Category |
Accounts |
| Assets |
Cash, AR, Inventory, Prepaid, Fixed Assets |
| Liabilities |
AP, Accruals, Debt, Intercompany |
| Equity |
Retained Earnings, Other Comprehensive Income |
Phase 4: Adjustments
MANDATORY: Post all adjusting entries with documentation
Adjustment Types
| Type |
Description |
| Accruals |
Expenses incurred not yet recorded |
| Deferrals |
Cash received/paid for future periods |
| Estimates |
Reserves, allowances, impairments |
| Corrections |
Error corrections |
| Reclassifications |
Account reclasses |
Journal Entry Standard
| Element |
Requirement |
| Entry number |
Unique identifier |
| Date |
Period end date |
| Description |
Clear rationale |
| Accounts |
Debits and credits |
| Support |
Documentation attached |
| Approval |
Required before posting |
Phase 5: Review
MANDATORY: Quality review before closing
Review Checklist
| Check |
Validation |
| Trial balance foots |
Total debits = credits |
| All recs complete |
Every account reconciled |
| All entries posted |
No pending entries |
| Variances explained |
Material changes documented |
| Controls completed |
SOX controls if applicable |
Review Levels
| Level |
Reviewer |
Focus |
| Self-review |
Preparer |
Accuracy, completeness |
| Peer review |
Another accountant |
Independent verification |
| Manager review |
Controller |
Reasonableness, policy |
| Final review |
CFO |
Overall quality |
Phase 6: Finalization
MANDATORY: Complete close procedures
Finalization Tasks
| Task |
Description |
| Period lock |
Prevent further posting |
| Reports generated |
Trial balance, financials |
| Workpapers filed |
Documentation archived |
| Close memo |
Summary of significant items |
Close Deliverables
| Deliverable |
Description |
| Trial Balance |
Final, adjusted |
| Financial Statements |
IS, BS, CF |
| Reconciliation Package |
All reconciliations |
| Close Memo |
Summary and issues |
Pressure Resistance
See shared-patterns/pressure-resistance.md for universal pressures.
Close-Specific Pressures
| Pressure Type |
Request |
Agent Response |
| "Skip that reconciliation" |
"All accounts must be reconciled. I'll complete the reconciliation." |
|
| "Post without approval" |
"Entries require approval before posting. I'll obtain approval." |
|
| "Close now, fix next month" |
"Errors compound. I'll correct before close." |
|
| "Immaterial, don't worry" |
"Materiality requires documentation. I'll document the item." |
|
Anti-Rationalization Table
See shared-patterns/anti-rationalization.md for universal anti-rationalizations.
Close-Specific Anti-Rationalizations
| Rationalization |
Why It's WRONG |
Required Action |
| "Same entry as last month" |
Each period independent |
VERIFY current validity |
| "Reconciling item will clear" |
Items need investigation |
INVESTIGATE now |
| "Small balance, skip rec" |
All accounts need rec |
RECONCILE all accounts |
| "Prior period was fine" |
Each close independent |
COMPLETE all steps |
Execution Report
Upon completion, report:
| Metric |
Value |
| Duration |
Xm Ys |
| Journal Entries |
N posted |
| Reconciliations |
N/N complete |
| Adjustments |
N |
| Review Sign-offs |
N/N |
| Result |
CLOSED/PARTIAL |
Quality Indicators
| Indicator |
Status |
| All accounts reconciled |
YES/NO |
| All entries approved |
YES/NO |
| All reviews complete |
YES/NO |
| Period locked |
YES/NO |
| Workpapers filed |
YES/NO |
1---2name: financial-close-23description: Month-end and year-end close workflow covering journal entries, reconciliations, close procedures, and audit preparation. Delivers accurate, timely close with full audit trail.4---56# Financial Close Workflow78This skill provides a structured workflow for month-end and year-end close using the `accounting-specialist` agent.910## Workflow Overview1112The financial close workflow follows 6 phases:1314| Phase | Name | Description |15|-------|------|-------------|16| 1 | Pre-Close | Prepare for close, gather data |17| 2 | Transaction Processing | Complete period transactions |18| 3 | Reconciliations | Reconcile all accounts |19| 4 | Adjustments | Post adjusting entries |20| 5 | Review | Quality review and sign-off |21| 6 | Finalization | Close period, prepare reports |2223---2425## Phase 1: Pre-Close2627**MANDATORY: Complete pre-close checklist before proceeding**2829### Pre-Close Tasks3031| Task | Description |32|------|-------------|33| Calendar review | Confirm close dates |34| Cutoff communication | Notify stakeholders of deadlines |35| Open items review | Identify carryover items |36| System readiness | Verify system availability |3738### Pre-Close Checklist3940| Item | Status |41|------|--------|42| Prior period closed | Required |43| Subledgers ready | Required |44| Bank statements received | Required |45| Intercompany confirmed | Required |46| Cutoff communicated | Required |4748### Blocker Check4950**If ANY of these are missing, STOP and ask:**51- Prior period closed52- Bank statements available53- Key source data ready54- System access confirmed5556---5758## Phase 2: Transaction Processing5960**MANDATORY: Complete all period transactions**6162### Transaction Types6364| Type | Description |65|------|-------------|66| Revenue | Sales, services, other income |67| Expenses | Operating, non-operating |68| Payroll | Salaries, benefits, taxes |69| Inventory | Receipts, shipments, adjustments |70| Fixed Assets | Additions, disposals, depreciation |7172### Cutoff Procedures7374| Area | Procedure |75|------|-----------|76| Revenue | Review shipments around period end |77| Expenses | Review invoices received post-close |78| Payroll | Confirm payroll period alignment |79| Inventory | Physical count if applicable |8081---8283## Phase 3: Reconciliations8485**MANDATORY: Reconcile ALL balance sheet accounts**8687### Agent Dispatch8889```90Task tool:91 subagent_type: "accounting-specialist"92 model: "opus"93 prompt: |94 Perform period-end reconciliations:9596 **Period**: [close period]97 **Entity**: [entity name]9899 **Accounts to Reconcile**:100 - Cash and bank accounts101 - Accounts receivable102 - Inventory (if applicable)103 - Prepaid expenses104 - Fixed assets105 - Accounts payable106 - Accrued expenses107 - Intercompany (if applicable)108 - Debt109110 **Prior Period Workpapers**: [attached]111112 **Required Output**:113 - Reconciliation for each account114 - Reconciling items identified115 - Supporting documentation116 - Sign-off status117```118119### Reconciliation Standard120121| Element | Requirement |122|---------|-------------|123| GL balance | From trial balance |124| Subledger/Bank | From supporting system |125| Reconciling items | Each item explained |126| Support | Documentation attached |127| Sign-off | Preparer and reviewer |128129### Required Reconciliations130131| Category | Accounts |132|----------|----------|133| Assets | Cash, AR, Inventory, Prepaid, Fixed Assets |134| Liabilities | AP, Accruals, Debt, Intercompany |135| Equity | Retained Earnings, Other Comprehensive Income |136137---138139## Phase 4: Adjustments140141**MANDATORY: Post all adjusting entries with documentation**142143### Adjustment Types144145| Type | Description |146|------|-------------|147| Accruals | Expenses incurred not yet recorded |148| Deferrals | Cash received/paid for future periods |149| Estimates | Reserves, allowances, impairments |150| Corrections | Error corrections |151| Reclassifications | Account reclasses |152153### Journal Entry Standard154155| Element | Requirement |156|---------|-------------|157| Entry number | Unique identifier |158| Date | Period end date |159| Description | Clear rationale |160| Accounts | Debits and credits |161| Support | Documentation attached |162| Approval | Required before posting |163164---165166## Phase 5: Review167168**MANDATORY: Quality review before closing**169170### Review Checklist171172| Check | Validation |173|-------|------------|174| Trial balance foots | Total debits = credits |175| All recs complete | Every account reconciled |176| All entries posted | No pending entries |177| Variances explained | Material changes documented |178| Controls completed | SOX controls if applicable |179180### Review Levels181182| Level | Reviewer | Focus |183|-------|----------|-------|184| Self-review | Preparer | Accuracy, completeness |185| Peer review | Another accountant | Independent verification |186| Manager review | Controller | Reasonableness, policy |187| Final review | CFO | Overall quality |188189---190191## Phase 6: Finalization192193**MANDATORY: Complete close procedures**194195### Finalization Tasks196197| Task | Description |198|------|-------------|199| Period lock | Prevent further posting |200| Reports generated | Trial balance, financials |201| Workpapers filed | Documentation archived |202| Close memo | Summary of significant items |203204### Close Deliverables205206| Deliverable | Description |207|-------------|-------------|208| Trial Balance | Final, adjusted |209| Financial Statements | IS, BS, CF |210| Reconciliation Package | All reconciliations |211| Close Memo | Summary and issues |212213---214215## Pressure Resistance216217See [shared-patterns/pressure-resistance.md](../shared-patterns/pressure-resistance.md) for universal pressures.218219### Close-Specific Pressures220221| Pressure Type | Request | Agent Response |222|---------------|---------|----------------|223| "Skip that reconciliation" | "All accounts must be reconciled. I'll complete the reconciliation." |224| "Post without approval" | "Entries require approval before posting. I'll obtain approval." |225| "Close now, fix next month" | "Errors compound. I'll correct before close." |226| "Immaterial, don't worry" | "Materiality requires documentation. I'll document the item." |227228---229230## Anti-Rationalization Table231232See [shared-patterns/anti-rationalization.md](../shared-patterns/anti-rationalization.md) for universal anti-rationalizations.233234### Close-Specific Anti-Rationalizations235236| Rationalization | Why It's WRONG | Required Action |237|-----------------|----------------|-----------------|238| "Same entry as last month" | Each period independent | **VERIFY current validity** |239| "Reconciling item will clear" | Items need investigation | **INVESTIGATE now** |240| "Small balance, skip rec" | All accounts need rec | **RECONCILE all accounts** |241| "Prior period was fine" | Each close independent | **COMPLETE all steps** |242243---244245## Execution Report246247Upon completion, report:248249| Metric | Value |250|--------|-------|251| Duration | Xm Ys |252| Journal Entries | N posted |253| Reconciliations | N/N complete |254| Adjustments | N |255| Review Sign-offs | N/N |256| Result | CLOSED/PARTIAL |257258### Quality Indicators259260| Indicator | Status |261|-----------|--------|262| All accounts reconciled | YES/NO |263| All entries approved | YES/NO |264| All reviews complete | YES/NO |265| Period locked | YES/NO |266| Workpapers filed | YES/NO |
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