Month-end close checklist for builders
What has to happen before the numbers can be trusted.
Short answer: A builder's month-end close reconciles every bank, card and loan account, codes every cost to a house and cost code, updates change orders and customer deposits, records draws and retainage, accrues large unbilled costs, and ends with a review of budget vs actual by house. Our target is to finish within 10 business days.
The checklist
- Reconcile bank, card and loan accounts
- Code all bills and charges to house and cost code
- Clear uncategorized items
- Log approved change orders, billed and unbilled
- Update customer deposits and retainage
- Record draws received
- Accrue large costs received but not billed
- Review budget vs actual by house
- Lock the period
Who should review it
Someone other than the person who did the work. At BrikBooks, our team does the close and our founder reviews it before it reaches you.
Common questions
How long should a close take?
Our target is 10 business days after month end.
Should I lock the period?
Yes. It stops changes to closed months.
Can you do this for us?
Yes. It is our core monthly service.
Related
By John Mos, Founder. Updated . We do not give tax or legal advice. Please ask your CPA or attorney.
See where your margin goes, house by house.
Tell us about your homes and your books. If we are a fit, we start with a $750 Job Cost Checkup: written findings and a fixed quote in 10 business days, credited to your first month if you sign up.