Close & reporting
Month-end close
A repeatable monthly close for Australian businesses: every bank, card and loan account reconciled to its statement, GST and payroll accruals booked for the period, and the trial balance reviewed line by line before the month is marked final, on a date set around your BAS and STP reporting.
Management report
Illustrative client · August 2026
AUD
| Line | Aug | Jul | |
|---|---|---|---|
| Revenue | 142,380 | 131,904 | +10,476 |
| Cost of sales | (51,260) | (48,115) | (3,145) |
| Gross profit | 91,120 | 83,789 | +7,331 |
| Payroll | (46,300) | (45,900) | (400) |
| SoftwareNoted | (6,480) | (5,490) | (990) |
| Rent | (8,000) | (8,000) | 0 |
| Other operating | (9,215) | (9,870) | +655 |
| Net income | 21,125 | 14,529 | +6,596 |
Reviewer's note
Software is up on last month after two seats were added mid-month. Revenue includes one milestone invoice that will not repeat next month.
Illustrative. An example of the document, not a client's figures.
What counts as closed
Every bank, card and loan account is reconciled to its statement, GST and payroll accruals for the period are booked, and the trial balance is reviewed line by line before we mark the month final. Fixed asset and depreciation schedules are updated on the same schedule, so nothing catches up at tax time.
Timed around your reporting calendar
The close date is set to give you a finished set of books before your BAS is due, whether you lodge quarterly (28 October 2026, 28 February 2027, 28 April 2027 and 28 July 2027 for the 2026-27 year) or monthly on the 21st of the following month. Single Touch Payroll reporting for each pay run, and from 1 July 2026, Payday Super's requirement that compulsory super contributions (12% of qualifying earnings) reach an employee's fund within seven business days of payday, both depend on payroll data that is already reconciled, not reconstructed after the fact.
Software and handover
We work inside Xero, MYOB or QuickBooks Online, whichever you already use, and the file stays yours. A named pod runs your close, and any change in scope or approach comes with a recorded handover memo, so nothing about how your books are being run is a surprise.
Moving the date earlier
Most businesses start with a close a week or two after month end and tighten it once bank feeds, bills and payroll runs arrive on a consistent schedule. See management reports for what comes out of a closed set of books.
Questions
Frequently asked questions: Month-end close
What counts as the books being closed for an Australian business?
Every account is reconciled, GST and payroll accruals are booked, and the trial balance has been reviewed line by line before the period is marked final.
Does the close date move as our BAS lodgement gets closer?
The close calendar is set with you against your BAS due dates, whether you lodge quarterly or monthly, and can move earlier once source documents arrive on a consistent schedule.
Do you lodge our BAS as part of the close?
No. We close and reconcile the books. BAS lodgement sits with your appointed adviser.
What is not included in the monthly close?
BAS and tax lodgement, and payroll processing itself, sit outside the close. The close covers reconciling every account and finalising the period's numbers so those downstream steps work from a settled set of figures.
What access do you need to run the close?
Read-only bank feeds and access to your Xero, MYOB or QuickBooks Online file, plus source documents for anything not already captured through a feed or an app like Dext.
What counts as the books being closed?
Every account is reconciled, every accrual and prepaid entry is booked, and the trial balance has been reviewed line by line before the period is marked final.
Can the close date move earlier as the business grows?
Yes. The close calendar is set with you and can be tightened once source documents such as bank feeds, bills and payroll runs arrive on a consistent schedule.
What is included in month-end close?
Month-end close covers bank, card and loan accounts reconciled to statement balances and accrual and prepaid entries recorded for the period. The exact scope is agreed and set out in writing before work starts, so you know precisely what is and is not covered before the first deliverable arrives.
How is month-end close priced?
Pricing for month-end close depends on your transaction volume, the software you use, and how much cleanup is needed before ongoing work starts. Current ranges are published on the pricing page, and your exact fee is confirmed in writing before anything begins.
Related services
- Close & reportingAccrualsExpenses and revenue recorded in the period they actually happen, even when the invoice or cash has not moved yet, so the month's numbers reflect that month's activity.
- Close & reportingManagement reportsMonthly profit and loss, balance sheet and cash flow packaged with a plain-English narrative so the numbers explain themselves before anyone has to ask a question.
- BookkeepingMonthly bookkeepingOngoing monthly bookkeeping: transactions sorted into categories, accounts reconciled and month-end reports delivered in the software you already use.
Industries
- SaaSBookkeeping and reporting for subscription software businesses tracking recurring revenue, deferred revenue and burn.
- Ecommerce (Amazon and Shopify)Bookkeeping for online sellers on Amazon, Shopify, Etsy and their own storefronts, built around clean payout and sales tax data.
- Professional servicesBookkeeping for professional service firms such as engineering, architecture and IT consulting billing clients by project or retainer.
Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.