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Training · Month-end

AP month-end close checklist: free template and walkthrough

The AP part of the month-end close is a fixed checklist: set the cut-off, get every invoice received by then into the system, clear exceptions and approvals, make sure every approved bill is in the ledger, accrue what was received but not billed, then reconcile the AP aging to the balance sheet. Download the template below and work through it each month.
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New to the topic? Read the explainer first: Accounts payable month-end close — Why each step matters, cut-off and accrual rules, and how to shorten the close.

Last updated · Aequo AP training

The steps, in plain language

  1. 1

    Set and announce the cut-off

    Tell suppliers and requesters the last day invoices count for this month.

  2. 2

    Capture every invoice received

    Check the AP inbox and any paper invoices so nothing received before cut-off is left out.

  3. 3

    Clear exceptions

    Resolve or document every open match exception. Unresolved ones may need an accrual.

  4. 4

    Chase approvals

    Get pending approvals decided, or note which bills will be accrued.

  5. 5

    Confirm everything reached the ledger

    Every approved bill should be posted in the accounting system. Fix sync or posting failures now.

  6. 6

    Accrue received-not-invoiced

    Book an accrual for goods and services received before cut-off but not yet billed. Reverse it next month.

  7. 7

    Review the AP aging

    Look for old items, debit balances and unapplied credits.

  8. 8

    Reconcile AP to the balance sheet

    Agree the aging total to the AP balance and explain any difference.

  9. 9

    Reconcile key vendor statements

    For your largest vendors, agree their statement to your ledger.

  10. 10

    Sign off

    Record who reviewed the reconciliation and when.

Free template

Opens in Excel or Google Sheets. Columns: step, owner, due (business day), done, notes.

Download the AP month-end close checklist (CSV)
In Aequo AP

Work the checklist in Aequo AP

Aequo covers the steps up to the ledger. Accruals, the AP aging report and the reconciliation happen in your accounting system.

  1. 1

    Check readiness

    The Dashboard shows a month-end readiness score.

  2. 2

    Find what is stuck

    Open the Work Queue (the page is titled My Work) and use the filters Needs my approval, Overdue, Missing PO and Failed sync.

  3. 3

    Clear exceptions

    Work the Exception Queue under Documents › Exceptions until only items you will accrue remain. The Exception Aging report in Reports lists what is left by age.

  4. 4

    Fix sync failures

    Use the Failed sync filter, or Settings › Accounting Sync, and select Retry.

  5. 5

    Keep the evidence

    Reports › Approval Audit Trail and GL Coding Summary give you the approval and coding record for the period; Controls Monitor shows duplicate invoices and segregation-of-duties failures.

In QuickBooks Online

Finish in QuickBooks Online

From Intuit’s year-end guide, which applies equally at month-end.

  1. 1

    Run the AP aging

    Open Reports, choose Standard reports, and select Accounts payable aging summary or Accounts payable aging detail. Review it for outstanding bills.

  2. 2

    Reconcile

    Intuit recommends reconciling all accounts monthly. Agree the aging total to Accounts Payable on the balance sheet; the reconcile accounts payable lesson walks through it.

Frequently asked questions

What should an AP month-end close checklist include?

Cut-off, capture of all invoices received, exception and approval clean-up, confirmation that approved bills are posted, accruals for received-not-invoiced, an AP aging review, reconciliation to the balance sheet, key vendor statement reconciliations and sign-off.

Is the checklist template free?

Yes. It is a CSV file that opens in Excel or Google Sheets, with no sign-up.

How long should the AP close take?

See the month-end close benchmarks report for published close lengths; the AP steps are usually the first few days.

Try it in Aequo AP

Aequo AP captures invoices, matches them to purchase orders and delivery notes, routes approvals and flags exceptions and duplicates, then syncs approved bills with QuickBooks Online, Xero, FreshBooks or Zoho Books.

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Related guides and tools

Sources

Third-party steps follow the vendor’s own help pages. Menus change; check the current page if a label differs.

  1. Intuit: Year-end guide for QuickBooks Online — Updated by Intuit 21 August 2026; fetched 23 October 2026.