Monthly review
Fifteen minutes once a month so small issues do not wait until tax time.
Fifteen minutes once a month so small issues do not wait until tax time.
LedgerHQ and Tally keep the books moving. This page is the human habit: look once, fix what is still open, then read the month.
1. Clear What Is Still Uncoded
Open Fast Coding. Work the rows that still need an account. Do not force owner draws, loans, or payroll into an expense just to empty the queue. See Code one bank transaction and Understand what is waiting in Fast Coding.
2. Match Transfers And Card Payments
Unmatched transfers make income and expenses look bigger than they are. Confirm bank-to-bank and checking-to-card pairs before you trust the P&L. See Code an internal transfer and Code a credit-card payment.
3. Finish Statement-Backed Recs
For each bank and card, the statement should be in, the period posted, and the rec at zero or parked with a reason. See Bank reconciliation.
Pending rows wait
Pending at bank is visible only. Do not journal it. Wait for the settled row. See Understand pending bank transactions.
4. Answer Open Requests
Check Client Requests and Tally Work Summary. Unanswered owner questions stall the close. See Client requests and messages and Ask Client.
5. Read The Month
Are we profitable this month? Where did cash actually go? Does the bank still track the P&L?
Checklist
- Uncoded ordinary rows are gone
- Transfers and card payments are paired
- Statements are in and recs are finished or explained
- Requests and Ask Client have an owner
- P&L and cash make sense