The short answer
A useful monthly close connects source records to reconciled balances, a list of unresolved questions and reports someone actually reviews. A bank balance or a folder of invoices alone is not a complete picture of the business.
The checklist is a suggested working method, not a universal UAE statutory monthly-close timetable. Agree the cut-off, documents, reporting basis and review date with your accountant. Missing records and complex transactions affect when a reliable report can be delivered.
Agree who supplies what
| Stage | Business supplies | Accountant checks |
|---|---|---|
| Records and cut-off | Invoice and credit-note registers, bills, contracts and expense evidence for the month. | Completeness, dates, duplicate items and the agreed reporting period. |
| Banks and payment platforms | Statements and settlement reports for every agreed account. | Reconciliations, fees, transfers, refunds and unmatched entries. |
| Customers and suppliers | Unpaid invoices, disputes, supplier statements and expected payments. | Receivables and payables balances and differences requiring action. |
| Payroll, assets and finance | Approved payroll, payment results, asset purchases, loans and owner transactions. | Supporting schedules and adjustments under the applicable accounting basis. |
| Review and handover | Answers to queries and approval of agreed adjustments. | Reports, reconciliations, adjustment evidence and open items with owners. |
Explain differences rather than forcing a match
If a platform collects AED 12,000 and transfers AED 11,400 after charges, first obtain its settlement statement. The AED 600 difference needs an explanation; it is not automatically a missing customer payment. Use the underlying records to determine the accounting and tax treatment.
Transfers between the company’s own accounts should also be traced rather than mistaken for additional sales. Keep unresolved items visible with an amount, period, evidence request and responsible person. Do not invent a receipt or use an unexplained balancing entry to make a report look finished.
Ask for reports you can use
These are report-selection questions, not a claim that every report is included in every MERAKI plan. Basic reports, ageing, management packs, budget comparisons and review time have different plan inclusions. Check the comparison before buying.
- Profit and loss: which movements need explanation against the previous period or agreed budget?
- Balance sheet: which balances depend on estimates or unresolved evidence?
- Receivables and payables: who needs a collection call or an agreed payment plan?
- Cash information: which commitments and expected receipts affect the next decision?
- Open-item log: what remains unresolved, who acts and when will it be reviewed?
Compare plan deliverables and allowances Monthly accounting plans
Keep bookkeeping and tax filing as separate milestones
Accurate monthly records support a return, but receiving accounts does not prove that a VAT or corporate tax return was submitted or paid. Keep a separate calendar and identify who prepares, approves, submits and checks payment.
Retain the underlying evidence and completed working files. The FTA specifies at least seven years after the end of the relevant corporate tax period for those records; other record types and obligations may differ. Do not use the monthly close as a blanket permission to delete documents.
Choose ongoing support or a catch-up project
Use recurring bookkeeping when earlier balances and records are ready for a regular handover. If several months are missing or opening balances cannot be supported, first define the catch-up period and the unresolved evidence. A new subscription should not silently conceal historical work.
For an introductory enquiry, describe your entity, approximate monthly transactions, bank/payment accounts, employee count, software and the latest completed month. Do not attach confidential records to the initial form.
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