Quarterly Financial Reporting Checklist

Verify the last payroll for the quarter is posted, AP bills are entered through period-end, and customer invoices are issued for revenue recognized in the quarter. Confirm bank and credit-card feeds in QBO/NetSuite/Intacct are caught up through the last day of the quarter.

Push the prepared-by-client list through Suralink or the firm's portal so AR aging detail, fixed-asset additions, debt amortization schedules, lease schedules, and equity activity arrive before close starts. Track open items weekly with the controller.

Set the close date and password in QuickBooks Online or post the period-lock in NetSuite/Intacct so back-dated entries cannot reopen prior-quarter balances mid-close.

Tie each operating, payroll, sweep, and credit-card account to the bank statement. Investigate uncleared items aged over 30 days; flag any reconciling item over $1,000 for controller review on the workpaper.

Reconcile AR aging to GL receivables, AP aging to GL payables, inventory to perpetual count or physical, and fixed-asset roll-forward to GL. Document any unreconciled difference on the lead schedule.

Update the loan amortization schedules to lender statements, accrue interest, and post the ASC 842 right-of-use asset and lease liability movement. Tie ending balances to the prior-quarter roll-forward.

Walk the partner through each unreconciled item over $1,000 with supporting workpaper. Get sign-off on write-off, reclass, or carry-forward before posting AJEs — partners block close on unresolved cash differences.

Accrue wages for unpaid days when period-end falls mid-pay-period, employer FICA and FUTA on the accrual, and the proportional share of annual bonus and unused PTO. Pull figures from Gusto, ADP, or Rippling reports.

Run the fixed-asset depreciation schedule and post the quarterly entry. Amortize prepaid insurance, software subscriptions, and deferred financing costs on their established schedules.

Apply ASC 606 recognition: release deferred revenue earned in the quarter, accrue uninvoiced revenue for performance obligations satisfied, and reclass any contract liabilities. Tie to the contract waterfall.

Coordinate with the tax provider on the quarterly ASC 740 provision: federal, state, and any pass-through entity tax. Post current and deferred components; update the rate reconciliation workpaper.

Export the WTB from the GL after AJEs are posted. Compare against prior quarter and prior-year quarter; investigate any account with greater than 10% variance or absolute change above the materiality threshold.

Build the balance sheet, income statement, cash-flow statement (indirect method), and statement of stockholders' equity. Tie net income across statements; tie ending cash on the cash-flow statement to the balance sheet.

Walk the disclosure checklist for ASC 842 (leases), ASC 606 (revenue), ASC 326 (CECL), and segment reporting. Confirm classification of debt as current versus long-term based on covenant compliance at period-end.

Update the significant accounting policies note for any new pronouncements adopted, plus the standard notes: revenue disaggregation, leases, debt, equity, income taxes, segment reporting, fair-value measurements, and EPS.

Send the audit-inquiry letter to outside counsel covering pending litigation, threatened claims, and unasserted matters. Build in a 7-10 day response window so contingency disclosures can be drafted before sign-off.

Inquire with the CFO, treasury, and legal on debt actions, acquisitions, large customer losses, or litigation between period-end and the filing date. Classify each as recognized (Type 1) or non-recognized (Type 2) per ASC 855.

Cover results of operations (quarter and YTD vs. prior year), liquidity and capital resources, cash-flow drivers, off-balance-sheet arrangements, and known trends. Quantify revenue and expense variances; explain the why, not just the what.

Walk each key control in the SOX matrix: journal-entry review, account reconciliation review, segregation of duties on cash disbursements, and management review controls. Document tester, evidence, and result.

If a significant deficiency or material weakness was identified, brief the audit committee chair and external auditors before the quarterly review meeting. Draft the Item 4 disclosure language for the 10-Q.

Upload tie-out binder, lead schedules, AJE support, and disclosure workpapers to Suralink or the auditor's portal. Hold the kickoff call to align on review-cycle scope and timing of inquiries.

Respond to each PBC follow-up and review note in the tracker. Resolve proposed audit adjustments — book or pass with materiality memo — and update the SAD (summary of audit differences) before sign-off.

Large accelerated and accelerated filers: 40 days after quarter-end. Non-accelerated filers: 45 days. Confirm filer status hasn't changed since the last 10-K and load the deadline into the disclosure calendar.

Run the disclosure committee tie-out: every number in MD&A and the footnotes traces to the financial statements or a supporting workpaper. Two-person tie-out is the firm standard before EDGAR upload.

Submit the EDGAR filing through Workiva or the filing agent. Confirm acceptance, pull the accession number, and post the filing to the investor-relations site.