Close calendar
Who does what, by which working day.
All finance operations services
Finance Operations
Month-End and Year-End Close
FinAura closes your books on a fixed calendar every month: reconciliations finished, accruals and prepayments posted, depreciation and provisions booked, inter-company balances agreed, and the result reviewed by a Chartered Accountant. Year-end adds the schedules and adjustments your auditor needs.
- Chartered Accountant-led
- Bangalore and across India
- Reply within one business day
What is covered
What Month-End and Year-End Close Covers
Everything that turns a month of entries into final numbers.
Reconciliations
Bank, ledgers, GST and payroll agreed.
Accruals and prepayments
Expenses in the month they belong to.
Depreciation and provisions
Booked every month, not once a year.
Review
A CA reviews the trial balance and the movements.
Year-end schedules
The working papers your auditor asks for.
How the month runs
How It Works
Four stages, the same every month.
Step 1
Cut-off
- Sales and purchases in
- Bank complete
- Payroll posted
Step 2
Reconcile
- Bank and cards
- Ledgers
- GST and TDS
Step 3
Adjust
- Accruals
- Depreciation
- Provisions
Step 4
Review
- Trial balance checked
- Variances explained
- Month locked
Your part
What We Need From You
- 01Sales, purchase and payroll data by the cut-off
- 02Information on unbilled work and pending bills
- 03Asset additions and disposals
- 04Answers to our review questions
Our part
What You Get
- Final numbers on an agreed working day
- A locked month that does not change later
- Notes on unusual movements
- Year-end files ready for the auditor
A common question
Why does the close take so long?
Usually because reconciliations are left for month-end, information arrives late, and adjustments are worked out from scratch each time.
A close calendar moves the routine work into the month, fixes the cut-off date for information, and keeps the adjustments in standard schedules, so the last few days are review rather than catch-up.
See monthly MIS reportingCloseReviewed and locked
AdjustmentsAccruals, depreciation, provisions
EntriesThe month's transactions
Who it is for
Who It Is For
Companies with investors
Monthly numbers expected early.
Groups
Several entities closing together.
Teams with a slow close
Final numbers weeks after month-end.
Companies before an audit
A year-end that does not drag.
The rules, in plain English
What the Law Asks of Your Books
Companies Act, 2013
Section 128
Every company keeps books of account that give a true and fair view of its affairs, at its registered office or another place the Board decides, and preserves them for at least the eight financial years before the current one.
Official source: mca.gov.inCompanies (Accounts) Rules, 2014
Rule 3
Books kept electronically must stay accessible in India at all times, with a daily back-up on servers physically in India. For financial years starting on or after 1 April 2023, the accounting software must keep an audit trail of every change that cannot be switched off.
Official source: mca.gov.inCGST Act, 2017
Sections 35 and 36
Every GST-registered business keeps its accounts and records at its principal place of business and retains them for 72 months from the due date of the annual return for that year, or longer while an appeal or proceeding is open.
Official source: cbic-gst.gov.inIncome-tax law
Books and tax audit
Businesses and professions above the prescribed limits must keep books of account, and a tax audit follows above further limits. The limits change from time to time, so we confirm which apply to you before the year starts.
Official source: incometax.gov.inThis is general information, not advice for your situation; we confirm what applies to you before any work starts.
Questions we get asked
Month-End and Year-End Close: Questions, Answered
How soon after month-end will numbers be ready?
That depends on when your bank, sales and payroll data is complete. With a close calendar most clients get reviewed numbers in the first week or so; we agree the working day with you.
What is the difference between month-end and year-end close?
Year-end adds the full set of adjustments, tax provisions, schedules and disclosures needed for the financial statements and the audit.
Do you lock the books after closing?
Yes. Closed periods are locked in the software so later entries cannot change reported numbers without a deliberate reopening.
Can you close books kept by our own accountant?
Yes. Your team keeps the daily books and we run the close and review, or we take over both.
Often Taken Together
All 10 Finance Operations services01Finance OperationsBank ReconciliationEvery bank line matched to the books, daily or monthly, with exceptions listed and resolved rather than carried forward.02Finance OperationsInter-Company ReconciliationBalances between group companies agreed every month, which saves weeks at audit time.03Finance OperationsAccounts PayableInvoices checked, approved and scheduled for payment with proper controls, so vendors are paid when due and nobody is paid twice.04Accounting & FinanceAccounting & BookkeepingClean, current books every month, reviewed by a Chartered Accountant.05Accounting & FinanceManagement Reporting & BudgetingMonthly MIS, budgets, forecasts and dashboards built from reconciled books.