End-of-month

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End of Month

The monthly financial close — COGS, journal entries, and exports.

What End of Month covers

End of Month (EOM) is the monthly financial close. It pulls together the month's sales, inventory, and costs and produces the figures and exports the accounting team needs.

The End of Month page

Cost of goods sold (COGS)

COGS is the cost of the product you actually used during the month. It is calculated from your opening inventory, what you received, and your closing end-of-month count. Accurate inventory counts and complete waste and giveaway logs are what make COGS land correctly.

Journal entries (JE)

A journal entry is an accounting record. The platform formats journal entries so they can be imported directly into QuickBooks Online, so the accounting team does not have to re-key them.

EOM exports

The EOM exports package the month's numbers for the accounting team. Run them once the month's counts are final.

Closing checklist

  1. Confirm all inventory counts for the month are entered, including the final end-of-month count.
  2. Confirm waste and giveaway logs are complete in Product Tracking.
  3. Confirm cash is reconciled through the last day of the month.
  4. Review COGS and the journal entries on the EOM page.
  5. Run the exports.

Tip: The close is only as accurate as the data feeding it. Tidy inventory, product tracking, and cash before you start the EOM, not during it.