Close & reporting
Month-end close
A Hong Kong month-end close from Finbryn reconciles every bank, card and loan account to its statement, books accruals such as MPF contributions, updates fixed asset schedules and reviews the trial balance line by line before the period is marked final, so audited financial statements can be built on top of it without reopening prior months.
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.
Daily bookkeeping is not the same as a close
Keeping the ledger current tells you what happened. A close takes that record, reconciles it to bank and card statements, books the entries that belong to the period even when cash has not moved, and reviews the trial balance line by line before locking it. Directors often only discover a missed invoice or an unreconciled account when the annual audit starts, by which point the fix reaches back several months.
What the close covers each period
We reconcile every bank, card and intercompany account, book accrued and prepaid entries, and update fixed asset and depreciation schedules. A common recurring accrual in a Hong Kong close is the employer's monthly MPF contribution, since both employer and employee must contribute 5% of the employee's relevant income into the employee's MPF account, and that liability needs to sit in the right month whether or not the contribution has been paid yet.
Built to survive the annual audit
Every Hong Kong company faces an annual statutory audit with no small-company exemption. A close that is reconciled and documented month by month means the practising Hong Kong CPA performing that audit is reviewing organised working papers, not reconstructing a year in one sitting.
What you receive
A closed trial balance, the resulting financial statements, and a close checklist showing what ran and when, in Xero, QuickBooks Online or Zoho Books, whichever your company already runs.
What follows the close
Once the close is stable on a predictable date, management reports and a KPI dashboard sit on top of it without any extra reconciliation work.
Questions
Frequently asked questions: Month-end close
How does MPF fit into the monthly close?
Both employer and employee must contribute 5% of the employee's relevant income each month, and the employer's share is accrued in the month it relates to, even if the contribution is paid to the trustee a little later.
Does the close change once our annual audit starts?
No. A well-run close means the auditor works from books that were already reconciled month by month, rather than a rebuild once the audit begins.
Which software do you close in?
Most commonly Xero, QuickBooks Online or Zoho Books, depending on what your company already runs.
What happens if a bank feed missed a transaction earlier in the year?
It gets picked up during reconciliation and booked to the correct period, with a note explaining the adjustment, rather than dumped into the current month.
What happens if a vendor bill arrives after we thought the month was closed?
If it relates to the closed period, it is booked as an accrual in that period rather than dumped into the current month, so each period's numbers stay accurate even when paperwork from a vendor arrives well after the fact.
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.