Accounting · 6 min read
The monthly accounting controls a growing business should not skip
A concise close process for reliable cash, payroll, sales-tax and management reporting.
Close the books on a dependable rhythm
Timely reporting begins with a repeatable monthly close. Reconcile bank and credit-card accounts, review accounts receivable and payable, post payroll entries, and investigate unusual balances before management relies on the numbers.
Separate cash, profit and tax obligations
A positive bank balance does not necessarily mean the business is profitable or that the cash is available. Payroll deductions, GST/HST collected, income-tax instalments and upcoming supplier payments may already claim part of it.
- Reconcile GST/HST collected and recoverable input tax credits.
- Compare payroll remittances with payroll reports and the general ledger.
- Review aged receivables, overdue payables and near-term cash commitments.
- Compare actual results with budget and investigate meaningful variances.
Turn the close into a decision tool
A useful monthly package should help leaders understand margin, cash runway, customer concentration and emerging risks—not merely satisfy year-end compliance. NDS supports bookkeeping, reconciliations, payroll and management reporting for businesses that need dependable information.