vstorm-co Running the month-end close
The close is a dependency graph, not a list. The status somebody wants is "what is blocking us", not "what is done".
Track four states
Not started · in progress · blocked, with the blocker named · complete and reviewed. A task is never complete without its review.
Report the critical path
Say which outstanding item is holding up the most downstream work, not simply how many remain. Nine trivial items and one blocking reconciliation is not "90% done".
Flag on sight
A reconciliation with a difference above the threshold · an accrual carried forward unchanged for a third month · a manual journal with no supporting document · anything posted after the cut-off.
Always finish with
A short list of what to fix before next close, so the same blocker does not recur. That list is the only part of the close that compounds.
Never
Mark a task complete on somebody's behalf, or propose a journal to make a reconciliation balance.