Empowering Healthy Business Podcast Episode 4: Best Practices for Closing Your Books Each Month with Lindsay Jarosch
In this episode of the Empowering Healthy Business Podcast, host Cal Wilder sits down with Lindsay Jarosch, Director of Cloud Accounting at SmartBooks, to unpack the best practices for managing the monthly close process. Accurate and timely financials are key to running a healthy business, and it all starts with a strong monthly close.
Too often, small business owners treat monthly financials as an afterthought. But having reliable reports on time each month is critical for making data-driven decisions, forecasting growth, and spotting potential issues early.
Why Monthly Close Matters for Small Businesses
The monthly close process refers to the steps taken at the end of each month to finalize your financial records. Lindsay explains that a consistent close process provides real visibility into revenue, expenses, and profitability. Without it, you’re essentially flying blind. She emphasizes the importance of checklists, cloud accounting tools, and internal controls to streamline the process. These systems don’t just reduce errors, they also save valuable time, freeing business owners to focus on strategy and execution.
A good monthly close helps identify cash flow issues, unpaid invoices, or cost overruns before they become serious problems. It also ensures that the business remains compliant and ready for tax season, investor updates, or potential audits.
Practical Monthly Close Tips
Lindsay shares that setting up a standardized checklist is the first step to consistency. This includes reconciling bank accounts, reviewing accounts payable and receivable, and verifying that all transactions are categorized correctly. Using accounting automation tools like QuickBooks Online or Xero can also help small business owners speed up the close while reducing mistakes. But tools alone aren’t enough—training your team and sticking to a regular timeline is just as important.
About the Empowering Healthy Business Podcast
The Empowering Healthy Business Podcast is for small business owners who want to build profitable, scalable companies without burning out. Learn how to use smarter systems and practical tools to grow your business and improve your life.
Check us out at www.empoweringhealthybusiness.com.