Accountant: daily workflow

What this covers

This guide walks you through the daily accounting tasks and the month-end close process—from reviewing transactions to running final reports.

Before you start

• You have a username and password to log into Usystems
• You understand your company's chart of accounts
• You know which bank accounts and payment methods the company uses
• You know when the company's month ends (e.g., the last day of the calendar month or a fiscal month)

Steps

Daily Tasks

1. Review new transactions

Each morning (or at a regular time), log in and check for new transactions:

• Go to Transactions Open in Usystems
• Look for any invoices, payments, or expenses that were recorded the previous day
• Check that amounts, dates, and accounts look correct
• If something is missing or wrong, ask the person who recorded it to fix it before you proceed

2. Watch for unapproved transactions

• Some transactions may be marked as Draft or Unapproved
• Review these and approve them (if they are correct) or send them back for correction
• Ask your manager which types of transactions you should approve

3. Reconcile easy accounts

If your company uses a simple setup, you might reconcile bank or cash accounts daily:

• Get your bank statement or payment report for the day
• Go to Payments Open in Usystems and verify amounts match
• Note any discrepancies

4. Answer questions from operations

• Cashiers, inventory staff, or sales may ask: "Why is this transaction marked as paid?" or "Can I delete this invoice?"
• Review the transaction and explain what happened or what needs to happen next

Weekly Tasks (or as assigned)

5. Run a quick balance check

• Go to Reports Open in Usystems
• Look for a Trial Balance or Balance Sheet report
• Check that total debits equal total credits (they should always match)
• If not, there is an error somewhere—ask for help to find it

6. Reconcile critical accounts

• Accounts Receivable — does the system show the same amount as your follow-up list of customer invoices?
• Accounts Payable — do unpaid bills in the system match your vendor statements?
• Bank — does the system match your latest bank statement?

If they don't match:

• Find the missing or mismatched transaction
• Check the date, amount, and account; correct if needed
• Note the change for the month-end review

Month-End Close Checklist

Perform these steps 1–3 days before the month ends, or as soon as the last day is done:

7. Verify all transactions are recorded

• Go to Transactions Open in Usystems
• Filter by date (e.g., all of July)
• Scroll through and make sure nothing is missing
• Ask the cashier or operations team: "Did we record all sales and payments for this month?"

8. Reconcile the bank

• Get the bank statement for the month
• Go to Payments Open in Usystems
• Compare: every deposit and withdrawal on the bank statement should appear in the system
• Note any timing differences (a check that was written but not yet cashed)

9. Review and correct journal entries

• Some transactions (like depreciation, month-end adjustments, or accruals) might need manual journal entries
• Go to Transactions Open in Usystems
• Ask your manager: "Do we have any month-end adjustments to record?" (e.g., prepaid expenses, accrued salaries)
• If yes, create journal entries for them

10. Run the trial balance

• Go to Reports Open in Usystems
• Find and run the Trial Balance report
• Verify that total debits equal total credits
• If they don't, find and fix the unbalanced transaction

11. Reconcile accounts payable (vendors)

• Go to Contacts Open in Usystems and filter for vendors
• Check unpaid bills in the system against vendor statements
• If an invoice is on the vendor statement but not in the system, ask your manager if it should be recorded

12. Reconcile accounts receivable (customers)

• Go to Contacts Open in Usystems and filter for customers
• Review unpaid invoices; confirm the company still expects payment
• If a customer is disputing an invoice, note it for follow-up after the close

13. Run financial reports

• Go to Reports Open in Usystems
• Run these reports for the month:
  • Income Statement (or Profit & Loss) — shows income and expenses
  • Balance Sheet — shows assets, liabilities, and equity
  • Aging (customers and vendors) — shows how old unpaid invoices are
• Review them for unusual numbers (e.g., a sudden spike in an account)

14. Prepare a month-end summary

• Gather the key numbers from your reports (total income, total expenses, net profit, etc.)
• Prepare a brief summary for your manager: "Month ended with profit of X, receivables of Y, no significant discrepancies"
• Save or email the reports as required by your company

15. Finalize the month

• After your manager approves the reports, mark the month as Closed (if the system allows)
• This prevents accidental changes to past-month transactions
• Start fresh for the next month

Accounting impact

Every transaction you verify or reconcile ensures that:

• The company's financial reports are accurate
• Bank and vendor statements match the system
• There is a clear audit trail for external auditors
• Management can trust the numbers for decision-making

Tips & common mistakes

• Don't assume it's correct. Always compare the system to real-world documents (bank statements, invoices, receipts).
• Document your work. Write down what you checked, what matched, and what didn't—this helps auditors and future accountants.
• Communicate with operations. If a transaction is wrong, tell the person who made it as soon as possible so they can learn.
• Keep supporting documents. Save copies of bank statements, vendor invoices, and reconciliation notes. You'll need them if there's a question later.
• Ask for help. Month-end close can be complex. Don't hesitate to ask your manager or an experienced colleague for guidance.

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