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.
💡⭐Click here to talk to our team to learn more about this feature and special pricing!⭐
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 last reconciliation date and unreconciled transaction count per 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
🚧Coming Soon:
Quality Control Reports: Final review of financial statements to ensure everything looks as expected, including P&L Statements, Balance Sheets, Statement of Cash Flows, A/P Aging Report, & A/R Aging Report.
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.
How to Set Up Month End Close for a Client
Getting Started: Add MEC Licenses
Before setting up Month End Close for clients, you will need to add Month End Close licenses.
Navigate to Settings > Membership.
Click on Month End Close.
Click on + Purchase Licenses.
Under Additional Licenses, specify how many new licenses need to be purchased.
⚠️Please note. If you are currently using ReCats Licenses and would like to upgrade to the MEC license, please contact our support team and they will be able to get you switched over.
How to Set Up Month End Close for a Client
Navigate to the client's profile.
Click on the Month End Close tab.
Click Set up for client and follow the prompts to connect their QuickBooks Online company file.
Configuring Month End Close - MEC Settings
You can configure your Month End Close Report Settings for each individual Client. The following settings can be configured:
Client Reminders - Remind your client to review their transactions.
Team Notifications - Select which team members should receive notifications when a client comments, uploads documents, or adds notes to transactions.
Import Transactions - Import transactions, accounts, classes and tax codes from QuickBooks.
⚠️Please note. This option overrides existing transactions. Please approve any changes first before importing.
Disconnect Integration - Delete integration with QuickBooks Online. This frees up an MEC License.
💡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.
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.
Pick which reports you want to include.
Choose the target project.
The sections and reports you selected are added to the project as MEC sections (named "Transaction Review," "Account Reconciliation," or "Vendor & Account Review Reports" depending on what you picked), ready to assign and track.
💡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.