The Month End Close feature helps you quickly spot and correct issues in your clients' QuickBooks Online books directly inside Financial Cents and sync those corrections back to QuickBooks Online.
š”āClick here to talk to our team to learn more about this feature and special pricing!ā
What you can do today
Automatically flag transaction errors
Ask clients about transactions
Enables editing and categorization directly in Financial Cents
Pushes approved changes back to QuickBooks Online
Supports two-way QuickBooks Online sync
Gives you full control over file review inside your Projects
Pull in a list of vendors from QuickBooks Online
If needed, modify filters and exclude transactions to narrow down the list of vendors needing a 1099
Request for W-9s directly from the vendor or your client
Make edits to the vendor details in Financial Cents and push those changes back to QuickBooks Online
See every account that needs reconciliation in one view
Track the Last Reconciled Txn Date for each account
Record Reconciled Date and Reconciled By inside Financial Cents when added to a project
Surface every vendor and chart-of-accounts entry created in QuickBooks during the close period
Catch missing W-9s and 1099 setup early
Confirm new accounts are categorized correctly and ready to push back into QuickBooks Online
See every transaction you have shared with each client for review in one place
Track which questions the client has answered and which are still outstanding
Approve resolved transactions without leaving the client profile
ā Quality Control Reports
Review Profit and Loss Statement and Balance Sheet reports using QuickBooks Online data.
Drill into the transactions behind account balances.
Add comments to explain balances or variances.
Both reports are available in Month End Close and currently display a Beta label. Use the support chat to share questions or feedback.
š§Coming Soon:
Statement of Cash Flows, A/P Aging Report, and A/R Aging Report remain marked Coming Soon.
Instead of juggling spreadsheets, different tools, and client questions scattered over email, you get one centralized review hub that gives you full control over file review inside your Projects.
š”Pro Tip! When MEC reports are added to a project task, View report links show item counts where available, so you can size up the workload without opening every report. Profit and Loss Statement and Balance Sheet links do not show item counts.
Set up Month End Close for a client
Getting started: Add Month End Close licenses
Month End Close uses a separate license for each connected client. If your firm has not subscribed to Month End Close and has no connected clients, you can try it with 1 client for free. Your firm must have a paid Financial Cents subscription to connect QuickBooks Online.
To purchase licenses for additional clients:
Navigate to Settings > Membership.
Click on Month End Close.
Click on + Purchase Licenses.
Enter the number of licenses you need. If your firm already has a Month End Close subscription, use the Additional Licenses field.
Review the order and payment method, then click Complete Purchase.
Connect a client to QuickBooks Online
Navigate to the client's profile.
Click on the Month End Close tab.
Click Set up for client.
Follow the Connect Client to QuickBooks prompts and select that client's QuickBooks Online company file. If your firm is eligible for the 1-client trial, you will see Start Free Trial in this flow.
Configure Month End Close settings
Open Settings on the client's Month End Close tab to configure the following:
Client Reminders - Remind your client to review their transactions.
Client Contacts - Select the contacts who receive transaction and vendor notifications and can view shared transactions and vendor requests in the Client Portal.
Team Notifications - Select which team members should receive notifications when a client comments, uploads documents, or adds notes to transactions.
Hide Old Transactions - Hide transactions dated before your selected cutoff. Changes save automatically. Clear the date to include older transactions again.
Import Transactions - Import transactions, accounts, classes and tax codes from QuickBooks.
ā ļøPlease note. Re-importing overrides unapproved changes to transactions. Approve the changes you want to keep before importing. Transactions already approved are not affected.
Disconnect Integration - Delete integration with QuickBooks Online. This frees up a Month End Close license.
š”Pro Tip! Best Practices
You do not have to wait until month end to start reviewing. You can run mini-reviews mid-month to catch issues early, reducing the end-of-month scramble.
Monitor & Improve: Keep an eye on how many exceptions show up, which clients consistently need more cleanup, and adjust your rules or workflows over time.
Year to Date filtering: MEC reports now include a Year to Date option in the date selector, so you can filter transactions to just those for this year with a single click.
Add MEC reports to a project from the client profile
Once Month End Close is set up for a client, you can push MEC reports directly into a project from that client's Month End Close tab. This saves you from leaving the client profile to build out your close project.
Navigate to the client's profile and click the Month End Close tab.
Click + Add to Project on any MEC section.
Select the reports you want to include, then click Continue.
Choose the target project, then click Add Sections to Project.
The sections and reports you selected are added to the project as MEC sections (named "Transaction Review," "Account Reconciliation," "Vendor & Account Review Reports," or "Quality Control" depending on what you picked), ready to assign and track.
š”Pro Tip! You can also add MEC report sections to projects and templates while building them via + Team Tasks, where you can toggle individual reports on or off. Use whichever direction fits your workflow: start from the project, or start from the client.
Need more help? Click the chat bubble in the bottom right corner of your screen to connect with our support team.