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Did you even close your books?
Bradley Guernsey
November 03, 2025
In partnership with
As we get rolling into the new month, November, I wanted to give you a quick checklist for closing your books that may help you out…actually, I know it will help you out!
I wanted to put another plug (going to see this more so please help out!) about our Skool group, The Profit Platoon. I am doing LIVE events each Tuesday and Thursday and we did our first full week last week! Come join me and others!
Link here to The Profit Platoon!
Closing the month is not just paperwork or for some businesses, it’s for all. It is how small business owners and veteran entrepreneurs confirm accuracy, measure performance, and adjust the plan for the next month. When month-end close is consistent, you always know the truth about your business and you can make smarter decisions moving forward.
Here is a simple month-end close checklist every business should follow:
Record and categorize all income and expenses
Reconcile bank, credit card, and loan accounts
Confirm vendor invoices and schedule payments
Review open receivables and send follow ups
Apply all customer payments so aging reports are accurate
Check inventory balances and adjust where needed
Review your P&L to confirm revenue, expenses, and margins
Review your Balance Sheet
Run your Cash Flow Statement to see where $$ moved
Compare results to your forecast and budget, adjust!
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Once your reports are accurate, pause and review what the numbers say. Did revenue meet expectations? Did expenses increase more than planned? Will cash be tight next month? The goal is not just to close the books. The goal is to learn from the month that just ended so you can improve the one that is coming.
A strong month end close keeps you in control. You know where you stand, what needs attention, and what needs to change to stay profitable.
TLDR: Month End Close
Record all income and expenses
Reconcile bank and credit accounts
Verify vendor bills and customer payments
Review financial reports
Adjust next month’s plan
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