Month-end close that runs itself
Kinnow runs the month-end checks, plans the fixes for what fails and hands you one close pack. A person closes the month.
Live in partWhat does Close Checklist agent + 12-gate period close do? Close faster with fewer surprises, and walk into audit with every check, exception and sign-off already collected in one place.
How it works
Each month moves through four stages: open, pre-close, closed and locked. Kinnow runs 12 checks, including bank reconciliation, depreciation, inter-company entries and GST and TDS readiness. It plans fixes for failed depreciation, group-company and bank reconciliation checks, drafts notes explaining variances and builds the close pack. Skipping an optional check needs a written reason. A person does the final close.
Checks cover bank reconciliation, depreciation, inter-company and GST/TDS readiness; a skipped check shows as overridden in the pack, never as passed.
Step by step
- Your accountant opens the month. In the Month-end close screen, pick the month and press Start the close. Kinnow opens the period for your company and starts a fixed five-step routine: period opened, checklist drafted, a person confirms it, controls tied out, a person signs off.
- Kinnow runs the 12 checks. It looks at the trial balance (debits equal credits), journals still waiting for approval, bank accounts reconciled up to month-end, customer and supplier ledgers against their control accounts, balances between your group companies, stock value, depreciation, and the P&L against budget. It also looks at whether GSTR-1, the GSTR-3B self-assessment and the TDS 26Q match have been recorded.
- It plans a fix for what failed. For a failed depreciation, group-company or bank-reconciliation check, the checklist agent names the fix to run. For a budget variance above 10 per cent, it drafts a note explaining the variance. The result is one close pack for your finance head: each check, what failed, the suggested fix and the draft note.
- A person confirms the checklist. Someone with finance admin access goes through the list, confirms each item or all of them. Confirming only records that you have looked. It changes nothing in the books.
- Kinnow ties out the controls, and a person signs off. The controls are checked again, and your finance head records a sign-off. This too does not close the month.
- The finance head closes the period. In Period Close, press Close period. If any of the seven hard checks fails, the close is blocked. A failed soft check can be skipped, but only with a written reason, and it then shows as overridden in the pack. Locking the period afterwards is final.
See your own month-end close run on last month's trial balance and bank statement.
What you see on screen
These are the screens under Finance: Month-end close, and Period Close.
| Screen or button | What it shows or does |
|---|---|
| Month to close | A month picker and the Start the close button. Before you start, the page says no month-end close has been started yet. |
| Steps | The five steps, each marked Done, Waiting for a person, Failed or Not yet. If a step fails, the screen says what went wrong. |
| Checklist | Every check with its result. Items that need attention are separated from those where no problem was found. Each failed item shows the suggested fix and, for budget variance, a variance note. Buttons: Confirm, and Confirm all items. |
| Controls check | The controls tie-out, with a button to check the controls again. |
| Sign off this close | Records who signed off and when. The screen states plainly that signing off does not close the period, and links to Period Close. |
| Period Close | The list of checks with Gates passed, Hard failed and a Can close line showing Yes or No. Buttons: evaluate the checks, Close period, Abandon pre-close, Lock period and Reopen period. Skipped checks need an override reason, and an audit trail is kept. |
Who uses it
| Who | When |
|---|---|
| Accounts executive | Through the month and in the last days, fixing what the checks flag: unapproved journals, unreconciled bank lines, a missing depreciation run. |
| Finance head or controller | Confirms the checklist, signs off, closes the period. Only the controller reopens a closed period, and a reason is recorded. |
| Partner or CA | Reviews the close pack and any skipped checks, if your practice reviews the close. Kinnow does not require this step. |
Related
- Finance and tax: month-end close: the application these checks and the period live in.
- Close Checklist agent: the agent that drafts the checklist and the close pack.
- Period close gate: how the hard and soft checks work.
- Your own close policy, enforced: adding your own rules to the close.
- Period close: the term in plain words.
Questions
What is Close Checklist agent + 12-gate period close in Kinnow?
Kinnow runs the month-end checks, plans the fixes for what fails and hands you one close pack. A person closes the month.
What changes for the business?
Close faster with fewer surprises, and walk into audit with every check, exception and sign-off already collected in one place.
Is it available today?
It is live in part: the core is built and parts are completing with early customers.
What are the twelve checks?
In the order they run: trial balance ties; no journals waiting for approval; bank accounts reconciled; customer ledger ties to its control account; supplier ledger ties to its control account; group-company balances net to zero; GSTR-1 prepared; GSTR-3B self-assessment recorded; TDS matches the 26Q preview; stock value posted; depreciation done; P&L close to budget or explained.
Can I skip a check that fails?
Only the five soft ones, and only with a written reason by someone with finance admin access. Seven checks are hard and block the close. A skipped check shows as overridden in the close pack, never as passed.
Does Kinnow close the month for us?
No. It drafts the checklist, plans fixes, drafts variance notes and builds the close pack. Your finance head presses Close period.
What if we need to change something after closing?
A closed period rejects new postings. The controller can reopen it with a reason, which is kept on the audit trail. Once locked, it cannot be reopened from the screen.
Bring last month's trial balance and see which of the twelve checks would have stopped your close.
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