Books closed, numbers you can read
Month-end close and reporting
Finbryn runs a monthly close for Hong Kong companies that reconciles every account, then turns the closed trial balance into management reports, KPI dashboards and board packs. Because every Hong Kong company needs an annual statutory audit, the close is built to hand a practising Hong Kong CPA a clean, reconciled set of books when audit season arrives.
Management report
Illustrative client · August 2026
HKD
| 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 month-end close and reporting means in Hong Kong
A close ties every bank, card and intercompany account back to a statement or a supporting schedule, books the accruals and prepaid releases that belong to the period, and locks a trial balance before anything gets reported on top of it. From that closed set of books we build the profit and loss, balance sheet, KPI dashboard or board pack a Hong Kong director, shareholder or overseas parent actually asks for.
Why the close carries more weight here
Under the Companies Ordinance (Cap. 622), an annual statutory audit of financial statements by a Hong Kong-registered CPA (Practising) is required for all Hong Kong companies regardless of size, turnover or profitability, except dormant companies. A company filing the Profits Tax Return (BIR51) must submit it together with those audited financial statements. Our monthly close is built with that audit in mind: reconciled accounts, a documented trial balance and clean supporting schedules, so the practising CPA who performs the statutory audit is working from books, not a mess. Finbryn prepares the numbers; the statutory audit itself is performed and signed by an independent, practising Hong Kong CPA.
One reconciliation you will not see
Hong Kong has no VAT, GST or general sales tax, so the close has no output-tax or input-tax reconciliation line running through it, unlike a UK or EU close. Profits Tax is charged on a territorial basis, only on profits arising in or derived from Hong Kong, which shapes how a group with offshore income splits its accounts.
Delivery
Northlane Solutions Inc. is the company you contract with, and every file goes through a senior review before it reaches you. Work you send by the end of your day is usually reconciled and waiting for you by morning.
Starting point matters
If your ledger is not yet reconciled month to month, monthly bookkeeping or a catch-up comes first, then a structured month-end close. Once the close is stable, add management reports or a KPI dashboard on top of it. The pricing page shows how each layer is priced.
All services
Month-end close and reporting: every service
- Month-end closeA repeatable monthly close that ties every account back to source records and hands you a finished set of financials on a predictable date each month.
- Management 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.
- KPI dashboardsA small set of metrics that actually run the business, tracked month over month in one place instead of scattered across spreadsheets.
- Board packsA board-ready package built from the same numbers as your monthly close, delivered on a schedule that leaves you time to read it before the meeting.
- Budget vs. actualActual results lined up against the budget every month, with the gap explained in plain language rather than left for you to work out on your own.
- Variance analysisA closer look at why a number moved: price, volume, timing or a one-off, so a variance on a report turns into an answer instead of a question.
- ConsolidationsMultiple entities, locations or subsidiaries combined into one consolidated set of financials, with intercompany balances eliminated while each entity still reports on its own.
- IFRS conversionBooks converted between US GAAP and IFRS, or built directly on IFRS, for businesses reporting to an overseas parent, investor or standard-setter outside the United States.
- Revenue recognition (ASC 606 / IFRS 15)Revenue recorded when it is actually earned rather than when cash lands, following the five-step model shared by ASC 606 and IFRS 15, so recurring and multi-part contracts are accounted for correctly.
- Lease accounting (ASC 842 / IFRS 16)Operating and finance leases brought onto the balance sheet as a right-of-use asset and a lease liability, in line with ASC 842 and IFRS 16, with monthly amortization tracked going forward.
- Deferred revenueCash collected before it is earned tracked separately from revenue and released to the profit and loss on the schedule that matches when the work is actually delivered.
- Prepaid schedulesInsurance, software subscriptions and other costs paid up front spread across the months they actually cover, instead of hitting one month's profit and loss all at once.
- AccrualsExpenses 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.
- Cash flow statementsA statement of cash flows built from your actual accrual books, showing where cash came from and went across operating, investing and financing activity.
Questions
Frequently asked questions: Month-end close and reporting
Does Finbryn perform our statutory audit?
No. Every Hong Kong company needs its accounts audited annually by a practising Hong Kong CPA, with no small-company exemption. We prepare the reconciled books and schedules that audit is built from; the audit itself is performed and signed by an independent, practising Hong Kong CPA.
Why is there no VAT reconciliation in our close?
Hong Kong has no VAT, GST or general sales tax, so there is no output-tax or input-tax account to reconcile each month, unlike a UK or EU close.
What do you actually hand our auditor?
A reconciled trial balance, supporting schedules for fixed assets, accruals and prepayments, and a close checklist showing what ran and when, so the practising CPA doing the statutory audit is starting from organised books rather than raw data.
What exactly is included in a monthly close package?
Every bank, card and loan account reconciled, accruals and prepayments booked, a closed trial balance, and a profit and loss account, balance sheet and short narrative built from it. Anything the records cannot explain is listed separately rather than folded into a balance that only looks tidy.
What is not covered by month-end close and reporting?
We close the books and build the reports; we do not carry out the statutory audit or file BIR51, and we do not decide business strategy from the numbers, though we will flag a trend worth your attention.
Which software do you close and report in?
Xero, QuickBooks Online or Zoho Books, whichever your company already runs, with reports delivered as PDF and, if you want live access, inside a dashboard connected to the same file rather than a separate spreadsheet.
How is month-end close and reporting priced?
Pricing depends on entity count, transaction volume and how many report types you want each month, agreed before work starts and set out in your engagement letter, rather than billed separately for each report as it is produced.
How soon after month end do we receive the close and reports?
Once the last bank statement for the period is available, close work begins and reports follow once every account is reconciled and reviewed by a senior reviewer; the exact turnaround is agreed with you at the start of the engagement.
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.