Closing the month by working day 8

Most late closes are late before the month is over. Invoices wait for approval, the bank is reconciled once a month, and accruals are worked out from scratch every time.

Reconcile the bank daily, approve invoices within three days of receipt and keep a standing list of accruals that only needs updating. Then the first working days are for checking, not catching up.

Agree the pack’s contents once: the figures, a one-page commentary and the three questions the board asked last time. A shorter pack on day 8 is worth more than a long one on day 20.