Best Practices for Closing Your Books Each Month

Описание: Closing your books each month isn’t just bookkeeping. It’s how you get accurate financials you can actually use to run your business.

In this episode of the Empowering Healthy Business Podcast, Calvin Wilder is joined by Lindsay Jarsoch, Director of Cloud Accounting at SmartBooks, to share real-world best practices for a clean and timely monthly close. Lindsay’s team closes the books for 100+ small businesses every month, so this episode covers what works, what slows things down, and what to watch out for.

In this episode, you’ll learn:

Why monthly close matters (and why year-end cleanups are risky)

How long a close should realistically take

The core monthly close tasks (invoicing, bills, payroll, reconciliations)

What “reconciling” really means in QuickBooks

Cash vs accrual accounting (and when accrual matters)

Payroll accruals, prepaid expenses, and common month-end adjustments

How to avoid bottlenecks and speed up your close

QA/review best practices before you trust the numbers

Common mistakes SmartBooks sees when onboarding new clients

GAAP vs “management accrual” for small businesses

Resources: A sample monthly close checklist is available in the show notes.

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