# Year-End Close Playbook 2024 ## What you can achieve - 3-day close by standardising reconciliations - 98% reduction in manual adjustments through control checklists - Cleaner audit trail for HMRC and investors ## Pre-close preparation 1. Lock prior periods and post accrual schedules. 2. Align debtor/creditor listings with the general ledger. 3. Confirm deferred revenue calculations and revenue recognition policies. ## Close week workflow - **Day 1:** Bank recs, payroll journals, fixed asset runs. - **Day 2:** Deferred revenue, prepayments, variance analysis. - **Day 3:** Management pack, covenant checks, board highlights. ## Metrics that matter - Target variance threshold: ±5% vs budget for top 10 lines. - Close cycle time: under 72 hours from period end. - Review completion: sign-off from FD and CEO within 24 hours. Use this playbook alongside your accounting system checklists for repeatable speed.