Vertex Accounting

Month-End Close Checklist

Transactions Entered.
But Is Your Month Closed?

The self-assessment

19 checks. One clearer picture of your books.

For each control, choose Completed, Needs attention, or Not sure. Your completion progress, weighted readiness score, and personalized recommendations update instantly. Your selections remain in this browser.

Your Month-End Close Checklist

Five control areas · 19 accounting checks · Practical completion standards

✓ Completed! Needs attention? Not sure
01

Reconcile every bank account

Reconcile operating, trust, security deposit, and corporate accounts against bank statements; investigate unexplained differences.

Evidence of completion: Completed reconciliation reports; all differences resolved or documented.

02

Complete the trust account triple tie-out

Compare reconciled trust bank balances, trust cash GL balances, and the underlying owner/tenant trust liability ledgers, considering documented reconciling items.

Evidence of completion: The three components agree, or all variances are identified and addressed.

03

Review outstanding checks and deposits

Investigate stale checks, old deposits in transit, duplicate transactions, and unresolved reconciling items.

Evidence of completion: Outstanding items are legitimate, supported, and followed up.

04

Reconcile rent collections and tenant ledgers

Compare posted rent charges, payments, credits, concessions, and tenant balances; investigate discrepancies.

Evidence of completion: Rental activity and tenant receivables are complete and supported.

05

Review delinquencies and unapplied payments

Review tenant AR aging, unapplied receipts, credit balances, and unexpected negative receivables.

Evidence of completion: Material overdue or unapplied balances have explanations and next steps.

06

Verify security deposit liabilities

Reconcile tenant-by-tenant security deposits with the general ledger and applicable segregated bank accounts.

Evidence of completion: Deposit liabilities agree to supporting detail and required funds are accounted for.

07

Verify management fees and other income

Check management fee calculations against agreements; review leasing, renewal, late, and other approved charges.

Evidence of completion: Earned fees are calculated, authorized, and recorded correctly.

08

Assign a vendor to every vendor-related transaction

Confirm vendor names are attached to bills, checks, and other applicable vendor payments instead of recording expenses without payee identification.

Evidence of completion: Vendor-related transactions have the correct vendor assigned, or documented exceptions.

09

Verify vendor 1099 classifications and tax records

Review vendor 1099 eligibility, available W-9 information, taxpayer details, and 1099 settings in the accounting system.

Evidence of completion: Vendor classifications and required tax information are reviewed, documented, and updated as needed.

10

Track reportable vendor payments year-round

Review year-to-date payments, payment methods, and applicable exclusions so potentially reportable transactions are identified throughout the year.

Evidence of completion: Potentially reportable payments are tracked with correct methods and exclusions, rather than reconstructed only at year-end.

11

Review vendor payment reports for gaps

Check for payments without vendors, duplicate vendor profiles, incomplete tax records, and incorrectly classified transactions.

Evidence of completion: Material vendor reporting exceptions are investigated and corrected or listed for follow-up.

12

Review accounts payable and vendor bills

Identify missing or duplicate bills, wrong property coding, unpaid obligations, and period cut-off issues.

Evidence of completion: AP aging agrees to the ledger and material obligations are recorded in the correct period.

13

Review expense coding and property allocations

Check repairs, utilities, insurance, capital expenditures, and shared expense allocations.

Evidence of completion: Costs appear in the correct property, account, and period.

14

Reconcile all material balance sheet accounts

Review cash, receivables, payables, prepaids, loans, escrow, and other material balances.

Evidence of completion: Each material account has a reconciliation or supporting schedule.

15

Review owner contributions and distributions

Verify owner funding, transfers, reserves, draws, and distributions against owner ledgers and available balances.

Evidence of completion: Owner activity is correctly classified, approved, and supported.

16

Post required month-end adjustments

Review accruals, prepaids, depreciation, interest, and correcting/reclassification entries as applicable.

Evidence of completion: Applicable adjusting entries have been posted, documented, and approved.

17

Review property-level financial statements

Inspect property P&Ls and balance sheets for unusual movements, negative balances, missed revenue, and material variances.

Evidence of completion: Material variances are investigated, explained, or corrected.

18

Validate owner statements and reporting

Confirm owner statement transactions, reserve requirements, balances, distribution calculations, and ledger consistency.

Evidence of completion: Owner reports reconcile to underlying accounting records and are ready to issue.

19

Complete final review and lock the period

Resolve material exceptions, retain documentation, approve financial statements, and restrict closed-period changes when supported.

Evidence of completion: Close package is reviewed, archived, and period controls are applied.

Vertex Accounting · Personalized diagnostic

Your Accounting Health Assessment

A risk-weighted, self-reported assessment of your month-end processes. Your report identifies potential gaps and gives practical next steps, not an audit opinion.

—/100

WEIGHTED READINESS SCORE

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Answer the 19 controls to receive a personalized assessment.

Self-reported control readiness, not verified accounting accuracy. Unanswered controls receive no credit until answered.

0 / 19Marked completed
19Not completed / unknown
0%Assessment answered

01 · Readiness by accounting area

Banking & Trust Accounting0% · 0/3 completed · weight 30%
Revenue & Property Operations0% · 0/4 completed · weight 25%
Vendor Management & 1099 Tracking0% · 0/4 completed · weight 10%
Expenses & Balance Sheet0% · 0/5 completed · weight 20%
Final Review & Close0% · 0/3 completed · weight 15%

02 · Critical control alerts

No critical control issues reported so far. This does not independently verify balances.

03 · Your accounting strengths

Mark controls Completed to see your reported strengths here.

04 · Areas requiring attention

Based on the controls you marked “Needs attention” or “Not sure.” Each finding explains potential impact and the next step.

No issues marked Needs Attention or Not Sure. Any unanswered controls must still be completed.

05 · Prioritized month-end action plan

No reported outstanding actions. Retain evidence, confirm reviewer sign-off, and monitor controls monthly.

COMPLIMENTARY EXPERT REVIEW

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This is preliminary educational guidance based solely on your answers. It does not test accounting records, constitute an audit, or establish compliance with state trust-accounting or tax requirements.

Beyond bookkeeping

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Confident monthly closes are the goal.

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