Month-end and year-end close workflow covering journal entries, reconciliations, close procedures, and audit preparation. Delivers accurate, timely close with full audit trail.
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name: financial-close description: | Month-end and year-end close workflow covering journal entries, reconciliations, close procedures, and audit preparation. Delivers accurate, timely close with full audit trail.
trigger: |
skip_when: |
This skill provides a structured workflow for month-end and year-end close using the accounting-specialist agent.
The financial close workflow follows 6 phases:
| Phase | Name | Description |
|---|---|---|
| 1 | Pre-Close | Prepare for close, gather data |
| 2 | Transaction Processing | Complete period transactions |
| 3 | Reconciliations | Reconcile all accounts |
| 4 | Adjustments | Post adjusting entries |
| 5 | Review | Quality review and sign-off |
| 6 | Finalization | Close period, prepare reports |
MANDATORY: Complete pre-close checklist before proceeding
| Task | Description |
|---|---|
| Calendar review | Confirm close dates |
| Cutoff communication | Notify stakeholders of deadlines |
| Open items review | Identify carryover items |
| System readiness | Verify system availability |
| Item | Status |
|---|---|
| Prior period closed | Required |
| Subledgers ready | Required |
| Bank statements received | Required |
| Intercompany confirmed | Required |
| Cutoff communicated | Required |
If ANY of these are missing, STOP and ask:
MANDATORY: Complete all period transactions
| Type | Description |
|---|---|
| Revenue | Sales, services, other income |
| Expenses | Operating, non-operating |
| Payroll | Salaries, benefits, taxes |
| Inventory | Receipts, shipments, adjustments |
| Fixed Assets | Additions, disposals, depreciation |
| Area | Procedure |
|---|---|
| Revenue | Review shipments around period end |
| Expenses | Review invoices received post-close |
| Payroll | Confirm payroll period alignment |
| Inventory | Physical count if applicable |
MANDATORY: Reconcile ALL balance sheet accounts
Task tool:
subagent_type: "accounting-specialist"
model: "opus"
prompt: |
Perform period-end reconciliations:
**Period**: [close period]
**Entity**: [entity name]
**Accounts to Reconcile**:
- Cash and bank accounts
- Accounts receivable
- Inventory (if applicable)
- Prepaid expenses
- Fixed assets
- Accounts payable
- Accrued expenses
- Intercompany (if applicable)
- Debt
**Prior Period Workpapers**: [attached]
**Required Output**:
- Reconciliation for each account
- Reconciling items identified
- Supporting documentation
- Sign-off status
| Element | Requirement |
|---|---|
| GL balance | From trial balance |
| Subledger/Bank | From supporting system |
| Reconciling items | Each item explained |
| Support | Documentation attached |
| Sign-off | Preparer and reviewer |
| Category | Accounts |
|---|---|
| Assets | Cash, AR, Inventory, Prepaid, Fixed Assets |
| Liabilities | AP, Accruals, Debt, Intercompany |
| Equity | Retained Earnings, Other Comprehensive Income |
MANDATORY: Post all adjusting entries with documentation
| Type | Description |
|---|---|
| Accruals | Expenses incurred not yet recorded |
| Deferrals | Cash received/paid for future periods |
| Estimates | Reserves, allowances, impairments |
| Corrections | Error corrections |
| Reclassifications | Account reclasses |
| Element | Requirement |
|---|---|
| Entry number | Unique identifier |
| Date | Period end date |
| Description | Clear rationale |
| Accounts | Debits and credits |
| Support | Documentation attached |
| Approval | Required before posting |
MANDATORY: Quality review before closing
| Check | Validation |
|---|---|
| Trial balance foots | Total debits = credits |
| All recs complete | Every account reconciled |
| All entries posted | No pending entries |
| Variances explained | Material changes documented |
| Controls completed | SOX controls if applicable |
| Level | Reviewer | Focus |
|---|---|---|
| Self-review | Preparer | Accuracy, completeness |
| Peer review | Another accountant | Independent verification |
| Manager review | Controller | Reasonableness, policy |
| Final review | CFO | Overall quality |
MANDATORY: Complete close procedures
| Task | Description |
|---|---|
| Period lock | Prevent further posting |
| Reports generated | Trial balance, financials |
| Workpapers filed | Documentation archived |
| Close memo | Summary of significant items |
| Deliverable | Description |
|---|---|
| Trial Balance | Final, adjusted |
| Financial Statements | IS, BS, CF |
| Reconciliation Package | All reconciliations |
| Close Memo | Summary and issues |
See shared-patterns/pressure-resistance.md for universal pressures.
| Pressure Type | Request | Agent Response |
|---|---|---|
| "Skip that reconciliation" | "All accounts must be reconciled. I'll complete the reconciliation." | |
| "Post without approval" | "Entries require approval before posting. I'll obtain approval." | |
| "Close now, fix next month" | "Errors compound. I'll correct before close." | |
| "Immaterial, don't worry" | "Materiality requires documentation. I'll document the item." |
See shared-patterns/anti-rationalization.md for universal anti-rationalizations.
| Rationalization | Why It's WRONG | Required Action |
|---|---|---|
| "Same entry as last month" | Each period independent | VERIFY current validity |
| "Reconciling item will clear" | Items need investigation | INVESTIGATE now |
| "Small balance, skip rec" | All accounts need rec | RECONCILE all accounts |
| "Prior period was fine" | Each close independent | COMPLETE all steps |
Upon completion, report:
| Metric | Value |
|---|---|
| Duration | Xm Ys |
| Journal Entries | N posted |
| Reconciliations | N/N complete |
| Adjustments | N |
| Review Sign-offs | N/N |
| Result | CLOSED/PARTIAL |
| Indicator | Status |
|---|---|
| All accounts reconciled | YES/NO |
| All entries approved | YES/NO |
| All reviews complete | YES/NO |
| Period locked | YES/NO |
| Workpapers filed | YES/NO |