Financial Close Workflow

This skill provides a structured workflow for month-end and year-end close using the accounting-specialist agent.

Workflow Overview

The financial close workflow follows 6 phases:

Phase	Name	Description
1	Pre-Close	Prepare for close, gather data
2	Transaction Processing	Complete period transactions
3	Reconciliations	Reconcile all accounts
4	Adjustments	Post adjusting entries
5	Review	Quality review and sign-off
6	Finalization	Close period, prepare reports

Phase 1: Pre-Close

MANDATORY: Complete pre-close checklist before proceeding

Pre-Close Tasks

Task	Description
Calendar review	Confirm close dates
Cutoff communication	Notify stakeholders of deadlines
Open items review	Identify carryover items
System readiness	Verify system availability

Pre-Close Checklist

Item	Status
Prior period closed	Required
Subledgers ready	Required
Bank statements received	Required
Intercompany confirmed	Required
Cutoff communicated	Required

Blocker Check

If ANY of these are missing, STOP and ask:

Prior period closed
Bank statements available
Key source data ready
System access confirmed

Phase 2: Transaction Processing

MANDATORY: Complete all period transactions

Transaction Types

Type	Description
Revenue	Sales, services, other income
Expenses	Operating, non-operating
Payroll	Salaries, benefits, taxes
Inventory	Receipts, shipments, adjustments
Fixed Assets	Additions, disposals, depreciation

Cutoff Procedures

Area	Procedure
Revenue	Review shipments around period end
Expenses	Review invoices received post-close
Payroll	Confirm payroll period alignment
Inventory	Physical count if applicable

Phase 3: Reconciliations

MANDATORY: Reconcile ALL balance sheet accounts

Agent Dispatch

Task tool:
  subagent_type: "accounting-specialist"
  model: "opus"
  prompt: |
    Perform period-end reconciliations:

    **Period**: [close period]
    **Entity**: [entity name]

    **Accounts to Reconcile**:
    - Cash and bank accounts
    - Accounts receivable
    - Inventory (if applicable)
    - Prepaid expenses
    - Fixed assets
    - Accounts payable
    - Accrued expenses
    - Intercompany (if applicable)
    - Debt

    **Prior Period Workpapers**: [attached]

    **Required Output**:
    - Reconciliation for each account
    - Reconciling items identified
    - Supporting documentation
    - Sign-off status

Reconciliation Standard

Element	Requirement
GL balance	From trial balance
Subledger/Bank	From supporting system
Reconciling items	Each item explained
Support	Documentation attached
Sign-off	Preparer and reviewer

Required Reconciliations

Category	Accounts
Assets	Cash, AR, Inventory, Prepaid, Fixed Assets
Liabilities	AP, Accruals, Debt, Intercompany
Equity	Retained Earnings, Other Comprehensive Income

Phase 4: Adjustments

MANDATORY: Post all adjusting entries with documentation

Adjustment Types

Type	Description
Accruals	Expenses incurred not yet recorded
Deferrals	Cash received/paid for future periods
Estimates	Reserves, allowances, impairments
Corrections	Error corrections
Reclassifications	Account reclasses

Journal Entry Standard

Element	Requirement
Entry number	Unique identifier
Date	Period end date
Description	Clear rationale
Accounts	Debits and credits
Support	Documentation attached
Approval	Required before posting

Phase 5: Review

MANDATORY: Quality review before closing

Review Checklist

Check	Validation
Trial balance foots	Total debits = credits
All recs complete	Every account reconciled
All entries posted	No pending entries
Variances explained	Material changes documented
Controls completed	SOX controls if applicable

Review Levels

Level	Reviewer	Focus
Self-review	Preparer	Accuracy, completeness
Peer review	Another accountant	Independent verification
Manager review	Controller	Reasonableness, policy
Final review	CFO	Overall quality

Phase 6: Finalization

MANDATORY: Complete close procedures

Finalization Tasks

Task	Description
Period lock	Prevent further posting
Reports generated	Trial balance, financials
Workpapers filed	Documentation archived
Close memo	Summary of significant items

Close Deliverables

Deliverable	Description
Trial Balance	Final, adjusted
Financial Statements	IS, BS, CF
Reconciliation Package	All reconciliations
Close Memo	Summary and issues

Pressure Resistance

See shared-patterns/pressure-resistance.md for universal pressures.

Close-Specific Pressures

Pressure Type	Request	Agent Response
"Skip that reconciliation"	"All accounts must be reconciled. I'll complete the reconciliation."
"Post without approval"	"Entries require approval before posting. I'll obtain approval."
"Close now, fix next month"	"Errors compound. I'll correct before close."
"Immaterial, don't worry"	"Materiality requires documentation. I'll document the item."

Anti-Rationalization Table

See shared-patterns/anti-rationalization.md for universal anti-rationalizations.

Close-Specific Anti-Rationalizations

Rationalization	Why It's WRONG	Required Action
"Same entry as last month"	Each period independent	VERIFY current validity
"Reconciling item will clear"	Items need investigation	INVESTIGATE now
"Small balance, skip rec"	All accounts need rec	RECONCILE all accounts
"Prior period was fine"	Each close independent	COMPLETE all steps

Execution Report

Upon completion, report:

Metric	Value
Duration	Xm Ys
Journal Entries	N posted
Reconciliations	N/N complete
Adjustments	N
Review Sign-offs	N/N
Result	CLOSED/PARTIAL

Quality Indicators

Indicator	Status
All accounts reconciled	YES/NO
All entries approved	YES/NO
All reviews complete	YES/NO
Period locked	YES/NO
Workpapers filed	YES/NO

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