QuickBooks Month-End Reconciliation

Month End Checklist - GoldFinch

Check Inventory and COGS activity

• Post all open Purchase Receipts and Purchase Invoices if available

• Post all open Sales Shipments and invoice them

• Post all open "Adjustment" Item Journals

• Post output for Work Orders and Finish them if they are complete

Month-End Routines

• Check that "Adjust Cost" has been run, or run it manually

• Update allowed posting date ranges

To learn more, read this document: Month-End Routines.

Check Exported Sales and Purchase Invoices

Check that all sales and purchase invoices or credit memos for the month have been exported and imported into QuickBooks.

Compare the Sales Invoice and Purchase Invoice totals for the month by running the 'GF2012 Sales Invoice List' and 'GF3009 Purchase Invoice List' reports in GoldFinch with the Sales and Purchase invoice reports in QuickBooks.

Reports from GoldFinch

GF2012 Sales Invoices List

GF3009 Purchase Invoices List

Reports from QuickBooks

Sales by Customer Detail

Purchases by Vendor Detail

Month-End Reconciliation

At the end of the month, you must review and post one set of adjustment entries to QuickBooks to account for:

1. Net GL Changes for the month in GoldFinch

2. Accrued AP for Received Not Invoiced

3. Misc. GL entries posted for discount, freight, chargeback expenses, etc.

To export the Excel schedule:

1. Go to the GL Accounts.

2. Click on the All view.

3. Click on Export Month-End Reconciliation

Enter the Month End Date.

Select Export to Download and open the Excel file.

Ensure the "Total" row and the "Difference" column have 0 value, then use the End of Month Adj. Entries to post in QuickBooks.

End of Month Adjustment Amount for Accrued AP is the total Expected Cost changes for the month. To reconcile this amount, run GF1003 Inventory to GL Recon As of Date report for the end of the previous month, and the end of the current month, and then compare the Expected Costs between the two reports.

Expected Costs are the total of the Received Not Invoiced amount and the Shipped Not Invoiced amount.

Article QuickBooks-Month-End-Reconciliation  ·  Last updated October 04, 2025 · GoldFinch ERP Help Center