MyClawn Books › How it works
Month-end close: from statements to closed books
You upload statements and receipts, tell us the basics of the business, and get a workbook and an import file back, usually within the hour. This page walks through the steps, the checks and a real test run.
What a month-end close is
A month-end close is the routine of making sure every transaction from the month is recorded, categorized and reconciled, so the numbers for the month are final. For a small business with a bank account and a card, it means: collect the statements, categorize each line, check that the totals match the statements, and produce a P&L. That is what this service prepares.
Step 1: upload
Bank and card statements as CSV, Excel or PDF; receipts as PDF or photo; POS exports. Up to 60 files, 100 MB each. We never ask for bank logins and we do not connect to your accounts.
Drop your statements here. Starter $49/mo · Pro $149/mo. Refund within 14 days if it misses.
Upload your filesStep 2: tell us the basics
One or two lines: type of business, QuickBooks Online or Xero, and special rules. Example: Restaurant in Texas, October close. Square deposits are sales. Use QuickBooks Online. Owner transfers are draws. If vague, sensible defaults are assumed and listed in the Notes.
Step 3: what comes back
| Sheet | Content |
|---|---|
| Ledger | Date, description, amount, account, category, reason, receipt, source file. Real date and number types. |
| P&L | Income, cost of goods sold, gross profit, expenses by category, net income, with live formulas over the Ledger. |
| By account | Money in, money out and net per account. |
| Questions | What it could not categorize, probable duplicates, possible personal spending, transfers, unusually large items, anything that did not reconcile. |
| Notes | Assumptions, reconciliation result, file list. |
Plus import.csv for QuickBooks Online (Date, Description, Amount, dates as MM/DD/YYYY) or, if you say Xero, a Xero layout with dates as DD/MM/YYYY. Transfers between your own accounts that appear twice are left out of the import.
How it checks itself
Every transaction row from every statement is counted per file and compared with statement totals or running balances. If rows do not reconcile, the cause is searched for before anything is delivered. Receipts are matched to statement lines by amount, date and vendor; a receipt with no match goes on the Questions tab, not into the ledger. The P&L net is checked against the ledger and ten random rows are re-opened against their source. The result is written in the Notes tab.
A restaurant example
| You see | Treated as (default) |
|---|---|
| Processor deposits (Square, Toast and similar) | Sales, with processor fees noted |
| Food, beverage and packaging suppliers | Cost of goods sold |
| Payroll provider debits | Payroll and wages |
| Rent, utilities, insurance | Their own expense lines |
| Transfers to your personal account | Owner draws, as you say in the note |
| Card payment from checking | Transfer between own accounts, not an expense |
Change any rule in the note; two rounds of changes are included.
A real test run
We ran a bank CSV with 121 rows, a card PDF and 5 receipts. It produced a ledger, P&L, a QuickBooks CSV and 38 questions in 2 minutes. That is one small test with a made-up business, not a benchmark. Expect a high Questions count on a first month, because vague vendors and personal-looking charges are flagged for you rather than silently decided.
A sample workbook for a fictional taco truck is at books.myclawn.com/examples/sample-books.xlsx.
What you do each month
- Download the month statements from each bank and card (CSV is best).
- Add receipts you want matched.
- Upload, paste a one-line note, pay.
- Open the Questions tab and answer what you can.
- Import the CSV or hand the workbook to your accountant.
After the first month the note is the same and the work is about fifteen minutes of your time.
Limits
Bookkeeping prep, not tax or accounting advice. We do not post into your software, run payroll or give a CPA sign-off. See the FAQ and pricing.
Upload this month's statements. Bookkeeping prep only, not tax advice. 14-day refund if it misses, two rounds of changes, cancel any time.
Drop your statements here. Starter $49/mo · Pro $149/mo. Refund within 14 days if it misses.
Upload your files