Accounting departments process all accounts payable transactions from the first day of the month through the final day of the month. All payroll information for the month is also reviewed and processed. Close the books with less runaround. Share this sheet with your accounting team to easily manage your financial month end process and keep everyone on schedule. Use the sheet for monthly, quarterly, and annual tasks. Competitors are also external users of financial statements. They use competitors’ P&L to gauge how well other companies are doing in their space and whether or not they should enter new markets and try to compete with other companies. Here’s a sample financial statement template that shows the order of how each statement works together to report the full economic position of a company beginning with the balance sheet. Best to maintain and publish a monthly calendar by day that allows drill downs to daily, weekly, monthly, quarterly, and relevant periodic tasks. And hard to believe, it's good to let everyone know, "it's month-end CLOSE.".