Explain the recorded tax position and outstanding finance work before completing the period review.
Staff Accountant opens the tax period and checks its start date, end date and status. Agree the organization and document population with Controller before comparing amounts. Keep the invoice issue-date basis consistent across the review.
Staff Accountant opens GST Position & Tax Periods and drills into the source invoices and bills. Compare recorded output tax with recorded input tax credit. Review the treatment of Draft, Void and Disputed documents using the agreed inclusion policy.
AP Specialist explains outstanding bill balances and AR Specialist explains customer balances. Treasury Analyst brings unmatched payments and failed release attempts to the discussion. Staff Accountant checks journal totals and period assignments before proposing corrections.
Controller reviews the remaining issues and records the close notes before changing an Open period to Closed under the agreed period policy. Any later move to Locked follows that same policy. Keep the reasoning accessible to the next reviewer.
Staff Accountant retains the document references and evidence used for the conclusion. If the business uses a tax filing provider, hand over the reviewed information through that separately configured service and retain its own acknowledgement independently.
And how to keep it from happening.
Start free, then use Proto to change fields, steps and approvals before your team goes live.