Monthly close checklist UAE: 20 steps in order

Everything else depends on complete transactions and reconciled bank accounts, so start here.

• 1. Upload every bank and card statement for the month, in all currencies
• 2. Clear unmatched bank lines; chase missing bills and receipts
• 3. Record PDCs received and issued; move matured, cleared cheques to the bank
• 4. Post all sales invoices and credit notes for goods delivered and services done
• 5. Post all supplier bills and approved expense claims
• 6. Reconcile petty cash and record the top-up

With the raw data in, make the adjustments that turn transactions into accounts.

• 7. Accrue costs incurred but not yet billed, such as utilities and professional fees
• 8. Release prepayments, such as annual rent, licence and insurance
• 9. Post depreciation from the fixed asset register
• 10. Post payroll journals and the monthly end-of-service provision
• 11. Revalue foreign-currency balances and record FX gains or losses
• 12. Count or check inventory if you hold stock

The last stage is review. Do it with fresh eyes, ideally by someone who did not post the entries.

• 13. Check that every sales and purchase line has a VAT treatment
• 14. Review bills without a supplier TRN where VAT was claimed
• 15. Reconcile VAT control accounts to the draft VAT 201 working
• 16. Tie AR and AP ageing to the balance sheet
• 17. Review entertainment, fines and other corporate tax add-back accounts
• 18. Compare P&L to budget and last month; explain big moves
• 19. Lock the period
• 20. Send the management pack to the owner

The AI agent does the heavy lifting on steps 1 to 5: it matches uploaded statement lines to invoices and bills, reads receipts and proposes postings. It then runs the checks in steps 13 and 14 and gives you a list rather than a surprise at VAT time. Recurring journals handle prepayments, depreciation and the gratuity provision once set up.

People still decide. The accountant reviews flagged items, signs off adjustments and locks the period. Firms running many clients see each client's close status in one console on the White-Label License, and checklist steps can be tailored to a firm's own procedures on request.