Month-End Financials: Accurate, Reconciled & Reported by the 10th

Overview

The Platinum Program includes monthly financial statements that are fully reconciled, reviewed, and delivered by the 10th day of the following month.

This feature ensures that clients receive timely, accurate, and finalized financials each month, allowing for consistent visibility and informed decision-making.

Core Purpose

The purpose of this feature is to provide:

• A reliable and predictable close timeline

• Accurate, reconciled financial statements

• A consistent reporting standard clients can depend on each month

This creates confidence in both the timing and accuracy of financial reporting.

What Is Included in Month-End Close

As part of this feature, ABBL completes the following:

• Reconciliation of bank and credit card accounts

• Review and validation of financial data

• Identification and correction of inconsistencies

• Posting of necessary adjustments

• Final review by the Accountant Review Manager

• Preparation of finalized financial statements

Each month, we will prepare and post the following standard financial statements:

• Balance Sheet

  Shows your organization’s assets, liabilities, and equity as of the report date. This report provides a snapshot of your financial position at a specific point in time.

• Profit and Loss (Income) Statement

  Details the results of your operations for the reporting period, including revenues, expenses, gains, and losses. It gives a clear picture of your profitability and operational performance.

• Accounts Receivable Aging

  Breaks down outstanding customer balances by how long they’ve been unpaid, helping you assess collection risk and cash flow timing.

• Open Invoices by Customer

  Lists unpaid invoices by customer, showing who owes you money and for which invoices—useful for follow-ups and collections.

• Accounts Payable Aging

  Shows unpaid bills categorized by age, helping you manage vendor payments and avoid late fees or cash flow surprises.

• Unpaid Bills by Vendor

  Details which vendors are owed money and the status of each bill, supporting payment planning and vendor relationship management.

• Sales by Customer Summary

  Summarizes revenue by customer, allowing you to identify top clients, revenue concentration, and growth opportunities.

• Expense by Vendor Summary

  Groups expenses by vendor, making it easier to spot spending trends, cost drivers, and potential savings.

• Uncategorized Transactions Report

  Highlights transactions that need clarification or categorization, ensuring nothing remains unresolved or misclassified.

• Equity Detail Transactions Report

  Provides a breakdown of equity-related transactions, helping track owner contributions, distributions, and retained earnings changes.

• General Ledger (within 200 transactions)

  Provides a complete record of all transactions in your accounts during the period. For high-volume businesses, we may provide this separately in Excel to reduce report length.

• Reconciliation Summary

  Confirms that bank, credit card, and loan balances match your accounting records—verifying accuracy at month-end.

• Reconciliation Detail

  Provides transaction-level support showing how reconciled balances were achieved, offering transparency and audit-ready documentation.

  
  

All reports are posted to your client portal in both the Messages area and the #Documents file within the Monthly Financials folder.

Definition of “Reconciled Financials”

“Reconciled” means:

• Account balances are matched to supporting bank and credit card statements

• Transactions have been reviewed for accuracy and completeness

• Discrepancies have been investigated and resolved within standard scope

• Financial statements reflect a clean and supportable accounting record

Delivery Timeline Commitment

• Final month-end financials are delivered by the 10th day of the following month

This timeline is based on:

• Standard workflow completion

• Timely receipt of required information from the client

• Normal operating conditions

Dependency on Client Responsiveness

The ability to meet the 10th-of-the-month deadline depends on:

• Timely submission of documents and receipts

• Prompt responses to To-Do requests

• No significant delays in required information

If delays occur, the delivery timeline may be impacted.

Relationship to Daily Bookkeeping & Draft Reports

• Daily and weekly bookkeeping supports ongoing visibility

• Interim reports during the month are considered draft financials

• Month-end financials represent the final, reconciled version

This feature represents the completion of the accounting cycle for the month.

What Is NOT Included in This Feature

This feature does NOT include:

• Historical clean-up or catch-up work outside the current month

• Audit-level procedures or third-party assurance

• Complex forensic accounting or investigations

• Unlimited revisions after financials are finalized

• Tax preparation or tax filing

Client Responsibilities

To support timely close and delivery, clients are responsible for:

• Providing all required documentation in a timely manner

• Responding to outstanding questions or To-Do requests

• Ensuring connected systems and feeds are functioning properly

Internal Team Standard

Internally, ABBL is expected to:

• Complete all reconciliation procedures accurately

• Follow structured month-end close workflows

• Ensure all required reviews are completed

• Deliver finalized financials by the 10th of each month

• Escalate delays or issues proactively

Client Training Explanation / Key Takeaway

This feature ensures that each month is fully closed and finalized on a consistent schedule.

You can rely on:

• A predictable timeline

• Clean and accurate financials

• Confidence in your reported numbers

This allows you to move forward each month with clarity, rather than uncertainty about prior results.