Financial Reporting & Monthly Close Services


Consistent monthly close and financial reporting designed to give business owners and management reliable financial information.


Financial statements are only useful when the accounting behind them is complete and accurate.


Schmid CPA helps businesses establish a consistent monthly close process, reconcile key accounts, review financial activity, and prepare financial statements that management can actually use to understand the business.

Monthly Financial Statements

  • Preparation of monthly Profit & Loss and Balance Sheet reports based on the company’s accounting records.

Balance Sheet Reconciliations

  • Review and reconciliation of bank accounts, credit cards, payroll accounts, intercompany balances, fixed assets, liabilities, and other significant balance sheet accounts.

Monthly Close Process

  • A structured monthly process to complete accounting activity, reconcile accounts, record necessary adjustments, and prepare the books for reporting.

Management Reporting

  • Financial reporting organized to help management understand revenue, expenses, profitability, cash activity, and other important business trends.

Parent-Company Reporting Support

  • Accounting and reporting support for U.S. subsidiaries that provide financial information to foreign parent companies or overseas finance teams.

Year-End & Tax-Ready Financials

  • Year-end accounting review and coordination designed to provide organized financial records for tax preparation and other reporting requirements.

QuickBooks can generate a Profit & Loss statement in seconds. That does not necessarily mean the numbers are correct.


Before financial statements are relied upon, important accounts should be reconciled and unusual or incomplete activity should be addressed.



Schmid CPA combines accounting review, reconciliations, and financial reporting so the monthly financial statements are supported by the accounting records behind them.

Depending on the engagement, the monthly close and reporting process may include:


★ Profit & Loss and Balance Sheet reporting
★ Bank and credit card reconciliations
★ Accounts receivable and payable review
★ Payroll reconciliations
★ Intercompany balance reconciliation
★ Fixed asset and depreciation accounting
★ Accruals and other adjusting entries
★ Balance sheet account review
★ Management reporting
★ Parent-company reporting support
★ Year-end and tax preparation coordination



The reporting process can be tailored to the company’s operations, ownership structure, and management requirements.

U.S. subsidiaries often need financial information that serves two audiences: U.S. accounting and tax requirements and the reporting needs of an overseas parent company.



Schmid CPA can coordinate the U.S. accounting records with parent-company reporting requirements, intercompany balances, and communication with overseas accounting and finance teams.


This helps create a clearer connection between the company’s U.S. books and its broader international reporting structure.

Reliable reporting starts with reliable accounting.


Schmid CPA helps businesses build a repeatable close and reporting process so management has clearer financial information throughout the year—not only when the tax return is due.


Need more reliable monthly financial reporting?


Schedule a consultation to discuss your accounting, close, and reporting requirements.