12. Monthly closing
- Owner
- You (solo operation)
- Trigger
- End of each calendar month.
- Approval
- You sign off on the closed month before treating its numbers as final.
Needs input — no accounting system or spreadsheet of record has been chosen yet for closing entries.
Current state — Shopify is on standby, so there are no Shopify payouts to reconcile yet; every sale this month should be a Grist sale made under Procedure 6. Once Shopify is live, reconcile its payouts the same way alongside Grist.
Procedure
- Once Shopify is live: reconcile Shopify sales for the month against actual bank deposits — every payout should trace to specific orders. (Not applicable while Shopify is on standby — there are no Shopify payouts yet.)
- Reconcile every sale made under Procedure 6 (recorded in Grist) against its recorded payments.
- Check payment processor fees, refunds, and chargebacks for the month and confirm they're accounted for, not just netted out silently.
- Review inventory value (sum of landed costs for stones still in stock) and cost of goods sold for stones sold this month.
- Mark the month closed once the above are reconciled and any discrepancies are explained, not just noticed.
Required evidence
- Reconciliation records: bank vs. Grist vs. Shopify (once live).
- Fee, refund, and chargeback summary.
- Inventory value snapshot.