An illustrative close calendar.
A relative-day template for sequencing close work, dependencies, and review handoffs. Adapt the days, owners, and evidence to your own cycle.
Sequence beats speed.
Days are relative to period end so the pattern survives a change of calendar. Use the owner and dependency columns to see where a late input actually blocks something else.
How to adapt this calendar
Treat the sequence as a dependency map, not a schedule. Most teams find that two or three tasks sit on the critical path while the rest have slack.
- Set the relative day from your own period end, then adjust for weekend and holiday effects.
- Move any task that has an external dependency earlier, and record the expected delivery time.
- Protect the review window: preparation that finishes late cannot be reviewed properly by shortening review.
- Add a second review pass for entities or accounts you consider higher risk.
- Record who can approve a schedule change, and what a change requires in writing.
| Timing | Workstream | Task | Input dependency | Output and evidence | Escalation |
|---|---|---|---|---|---|
| T-10 | Confirm calendar, cutoff, and owners | Readiness | Prior-cycle calendar | Published close calendar with one owner per task | Unowned task escalates to the close owner same day |
| T-8 | Verify system access and interfaces | Readiness | Access list, interface inventory | Access confirmed; interface owners and delivery times recorded | Missing access escalates to systems owner |
| T-6 | List recurring journals and required support | Readiness | Prior journal listing | Journal schedule with support requirements | Undocumented journal flagged for review |
| T-5 | Publish task list and open exception log | Kickoff | Calendar, prior open items | Task list with owners; exception log populated with carry-forwards | Late start escalates to controller |
| T-4 | Confirm scope changes and materiality | Kickoff | Entity and account change log | Recorded scope, cutoff, and review thresholds | Basis change escalates before kickoff closes |
| T-3 | Capture subledger and source data | Preparation | Subledger extracts, payroll, cards | Source files with totals recorded | Missing source blocks T-2 tie-outs |
| T-2 | Reconcile key accounts to independent support | Preparation | Statements, independent support | Reconciliations with itemized reconciling differences | Unreconciled control account escalates same day |
| T-1 | Post accruals and review unusual movements | Preparation | Accrual support, prior fluxes | Accrual schedule; explanation of unusual items | Unsupported manual entry blocked from posting |
| T0 | First review pass on journals and reconciliations | Review | Prepared work with evidence | Reviewer notes and requested changes | Reviewer and preparer must differ |
| T+1 | Resolve review comments and post final batch | Review | Reviewer notes | Approved journal batch; comments resolved or recorded | Unresolved high-risk item carries forward with owner |
| T+2 | Flux review and commentary sign-off | Review | Trial balance vs approved comparison basis | Documented material drivers with business owner | Unexplained material flux escalates to CFO |
| T+3 | Close the period in the ledger | Sign-off | Final approved trial balance | Period closed; retained close pack | Close blocked while any control account is unreconciled |
| T+5 | Post-close review and next-cycle inputs | Post-close | Exception log, close outcome | Carry-forward list and process fixes for next cycle | Repeat exception escalates as a process defect |
The review window is the constraint.
Teams usually try to recover a late close by compressing review. That is the step that was never safely compressible. Fix the upstream dependency instead, and record what was late so the next cycle can be sequenced differently.
Need a calendar built around your cycle?
Tell us how many entities and how many days you have. We will tell you what that sequence actually requires.