Who it's for: anyone who plans or runs month-end in a SaaS or tech finance team, from finance assistant to financial controller.
What you'll get: a step-by-step way to build a close calendar from Day -3 to Day +5, a ready-to-copy calendar table, a worked example for November 2026, where AI helps, and prompts you can use today.
Reading time: about 11 minutes. Build your next calendar while you read.
Why a close calendar matters (and why "end of next week" isn't a date)
A checklist tells you what to do. A calendar tells everyone when, and who is waiting on whom. Without one, the close drifts: the sales team sends contract changes on Day 3, the payroll file lands after the accruals are done, and reporting slips by a day every month without anyone deciding it should.
A good close calendar turns the checklist into real dates, with owners, cut-off times and hand-offs. It is also the easiest document to share outside finance, which is where most delays start.
Key terms
- Working day (WD): a weekday that isn't a bank holiday. Day 1 is the first working day after month-end.
- Day -1, Day -2, Day -3: the last, second-last and third-last working days of the month.
- Cut-off time: the time after which a document or posting is handled in the next month or as an adjustment.
- Hand-off: the point where one person's output becomes another person's input (for example, payroll journal to accruals review).
- Critical path: the chain of tasks that sets the earliest possible reporting date. Delay any one and the whole close slips.
- Period lock: a setting in the ledger that stops further postings to a closed month.
The calendar at a glance
This template is built for a 5-day close. If your close is longer, keep the order and stretch the days. Times are suggestions to show the idea of a cut-off; many teams pick their own.
| Day | Main tasks | Owner (typical) | Cut-off | Hand-off to |
|---|---|---|---|---|
| Day -3 | Send calendar and cut-off reminders; request contract changes and accrual inputs | Finance lead | Requests out by 10:00 | Budget holders, sales ops, HR |
| Day -2 | Collect HR changes; check billing run schedule; pre-build accruals list | Finance assistant / payroll | HR changes by 17:00 | Payroll provider |
| Day -1 | Last expense claims and card receipts; billing runs; final contract list | Whole team | Expense claims by 12:00 | Finance assistant |
| Day 1 | Bank recs, payouts, billing close, supplier invoices, payroll journal | Finance assistant | Supplier invoices dated in month by 15:00 | Accountant |
| Day 2 | Billing-to-ledger rec, deferred revenue roll-forward, accrued income | Revenue accountant | Revenue journals posted by 17:00 | Controller |
| Day 3 | Accruals, prepayments, depreciation, commissions, FX, intercompany | Accountant | All journals posted by 17:00 | Reviewer |
| Day 4 | Balance sheet recs, journal review, flux analysis, period lock | Controller | Lock by 17:00 | FP&A / finance lead |
| Day 5 | Management accounts, KPIs, commentary, pack issued, close review | Finance lead | Pack out by 16:00 | Leadership |
How to build your calendar, step by step
Step 1: list every task and who does it
Start from your checklist. If you don't have one, use the SaaS Month-End Close Checklist. For each task, write the owner by name, not by team. "Finance" is not an owner.
| Task | What "done" looks like | |
|---|---|---|
| ☐ | Export your close checklist into a spreadsheet | One row per task |
| ☐ | Add an owner and a backup for every task | No blank owner cells; every owner has a named cover |
| ☐ | Add tasks done by people outside finance | Sales ops, HR, payroll provider and budget holders all appear |
Step 2: map the dependencies
For each task, note what it needs before it can start. The deferred revenue roll-forward needs the billing system closed. Accrual review needs supplier invoices posted. Flux analysis needs all journals in. This is what turns a list into a calendar.
| Task | What "done" looks like | |
|---|---|---|
| ☐ | Add a "needs" column to each task | Every task lists its inputs, or "none" |
| ☐ | Mark the critical path | The longest chain of dependent tasks is highlighted |
| ☐ | Spot tasks with no dependencies | These are candidates to move earlier, often before month-end |
AI shortcut: paste your task list (task, owner, inputs) into an approved AI assistant and ask it to sort the tasks into dependency order and name the critical path. Then check its logic against how your close actually runs. It won't know that your payroll provider always sends the file at 14:00.
Step 3: assign each task to a day
Put each task on the earliest day its inputs are ready. Then pull anything that doesn't depend on month-end data into Day -3 to Day -1. Prepayment schedules, depreciation runs and accrual lists can often be built before the month ends and just updated afterwards.
| Task | What "done" looks like | |
|---|---|---|
| ☐ | Place each task on a day from Day -3 to Day 5 | No task scheduled before its inputs are ready |
| ☐ | Move preparation work before month-end | At least a few tasks sit on Day -3 to Day -1 |
| ☐ | Check each person's load per day | Nobody has more planned hours than they work |
Step 4: set cut-off times, not just days
"Day 1" can mean 09:00 or 23:59. A time removes the argument. Typical cut-offs cover expense claims, supplier invoices, billing changes, journal posting and the period lock. Agree what happens to anything late: it goes into next month, or it becomes an adjustment only if it's over a set amount.
| Task | What "done" looks like | |
|---|---|---|
| ☐ | Set a time for each cut-off | Every external input has a day and a time |
| ☐ | Agree a late-items rule with your manager | Written down: what threshold triggers a late adjustment |
| ☐ | Agree the reporting deadline with leadership | The pack date is fixed and known |
Step 5: convert working days into real dates
Working days mean nothing to sales. Put real dates in the version you send out. Skip weekends and UK bank holidays, and check the holiday calendar for each country if you have teams abroad. December and Easter usually need their own adjusted calendar.
| Task | What "done" looks like | |
|---|---|---|
| ☐ | Build a 12-month table of real dates for each close day | Day -3 to Day 5 shown as dates for every month |
| ☐ | Check bank holidays and planned leave | Busy days don't land on a key person's holiday |
| ☐ | Add tax and filing dates that fall in the month | PAYE, VAT and any Corporation Tax instalments shown alongside the close |
As at October 2026, the main recurring UK dates to show alongside the close are:
- PAYE and National Insurance: for monthly payers, payment by electronic transfer reaches HMRC by the 22nd after the end of each tax month (tax months run from the 6th to the 5th). Cheques by post reach HMRC by the 19th.
- VAT: for standard quarterly returns, the return and payment are typically due 1 calendar month and 7 days after the end of the VAT period. Annual Accounting Scheme users have different dates.
- Corporation Tax instalments: only for large companies (broadly, taxable profits above £1.5 million a year). Check the instalment dates on gov.uk for your accounting period.
Dates and rules change, so check gov.uk each year when you build the calendar.
Step 6: publish it and get it agreed
Send the 12-month calendar once a year, then a short reminder on Day -3 each month. Put the dates in shared calendars as well as in the spreadsheet. People ignore attachments; they don't ignore a meeting invite that says "Expense claims close at 12:00".
| Task | What "done" looks like | |
|---|---|---|
| ☐ | Share the calendar with every owner | Owners have confirmed their dates |
| ☐ | Add cut-offs to shared calendars | Invites sent for the year |
| ☐ | Send a Day -3 reminder each month | One short email with this month's dates |
AI shortcut: give AI your calendar table and ask for a short reminder email to non-finance colleagues, listing only the dates that apply to them. Ask for a version for sales, one for HR, and one for budget holders. Check every date it writes against the calendar before sending.
Step 7: track it and fix one thing a month
Add two columns: planned completion and actual completion. After each close, look at which tasks finished late and why. Fix the biggest cause and leave the rest. One fix a month adds up quickly.
| Task | What "done" looks like | |
|---|---|---|
| ☐ | Record actual completion for each task | Planned vs actual for every task on the critical path |
| ☐ | Hold a 15-minute review after the pack is issued | The top cause of delay is named, with one change |
| ☐ | Update the calendar | Next month's version reflects the change |
Worked example: November 2026 close for MonthEndClub Co Ltd
MonthEndClub Co Ltd is a fictional UK SaaS company with a five-person finance team. November 2026 ends on Monday 30 November. Here's how the working days turn into dates.
| Close day | Date | Key cut-off |
|---|---|---|
| Day -3 | Thursday 26 November | Reminders and requests out by 10:00 |
| Day -2 | Friday 27 November | HR changes to payroll by 17:00 |
| Day -1 | Monday 30 November | Expense claims by 12:00 |
| Day 1 | Tuesday 1 December | Supplier invoices dated November by 15:00 |
| Day 2 | Wednesday 2 December | Revenue journals posted by 17:00 |
| Day 3 | Thursday 3 December | All journals posted by 17:00 |
| Day 4 | Friday 4 December | Period locked by 17:00 |
| Day 5 | Monday 7 December | Management pack issued by 16:00 |
The team also adds the tax dates that fall nearby. PAYE for the tax month 6 November to 5 December is due electronically by 22 December. MonthEndClub Co Ltd's VAT quarter runs September to November, so the return and payment are due by 7 January 2027.
A late input, handled by the calendar
On Day 1, the engineering contractor hasn't sent an invoice for November. The calendar says supplier invoices close at 15:00, and anything missing becomes an accrual on Day 3. The approved timesheets show 12 days at £550 a day.
12 × £550 = £6,600. The contractor is VAT-registered, but the VAT isn't accrued because it will be recovered when the invoice arrives.
| Account | Dr | Cr |
|---|---|---|
| Contractor costs (development) | £6,600 | |
| Accruals | £6,600 |
In December, the accrual reverses and the real invoice is posted as normal. The close stays on track because the calendar already said what to do with a late invoice. Nobody waited for it.
Common mistakes
- Calendar in working days only. People outside finance need real dates and times.
- Owners named by team. "Sales ops" doesn't send anything. A named person does.
- Ignoring bank holidays. December, Easter and May often have fewer working days. Build those months separately.
- No rule for late items. Without one, every late invoice becomes a debate, and the close waits for the debate to end.
- Everything on Day 4. If one person reviews everything on one day, that day is your bottleneck. Spread the review.
- Tax dates kept somewhere else. PAYE and VAT payments need cash and approvals. Put them on the same calendar.
- Trusting AI-generated dates. AI can miscount working days or miss a bank holiday. Check every date against a real calendar.
- Pasting staff or customer data into unapproved AI tools. Only use tools your company has approved for that data.
Tools that can help
Most teams build the calendar in Excel or Google Sheets, then send cut-offs as shared calendar invites. Close management tools in larger stacks (and ERP systems such as NetSuite) can track tasks, owners and sign-offs against close days. Accounting software such as Xero, QuickBooks or Sage lets you lock periods once the close is done. Tools don't replace the calendar; they just make it easier to keep to.
AI prompts to try
Use these in a company-approved AI tool. AI drafts; you check and own the result.
- Turn working days into dates. Give it: your close days (Day -3 to Day 5) and the list of UK bank holidays for the year. Ask: "Convert these close days into real dates for each month of 2027, skipping weekends and the bank holidays listed." Check: each month's Day 1 and Day 5 against a calendar.
- Find the critical path. Give it: task, owner, inputs and hours for each task. Ask: "Order these tasks by dependency, show the critical path and flag any person with more hours than 7.5 on one day." Check: that the inputs it assumed match how your close really works.
- Write the reminder emails. Give it: this month's calendar. Ask: "Write three short reminder emails (sales, HR, budget holders) listing only the dates and cut-offs that apply to each." Check: every date and time against the calendar.
- Review last month's delays. Give it: planned vs actual completion for each task. Ask: "Which tasks were late, by how much, and which caused later tasks to be late?" Check: the reasons with the people involved; AI only sees the timings.
Rates, thresholds and rules in this guide
Figures were checked against the pages below in October 2026. They change regularly (often each April or at Budget time), and we can't guarantee they're still current or right for your situation. Always check the official page before relying on them.
- Pay employers' PAYE (GOV.UK): PAYE payment dates (22nd electronically, 19th by post)
- DMBM520055: PAYE payment frequencies and due dates (HMRC manual): tax months running 6th to 5th
- Sending a VAT Return: when to do a VAT Return (GOV.UK): VAT return and payment deadline
- Pay Corporation Tax if you're a large company (GOV.UK): who pays quarterly instalments and when
Key takeaways
- A close calendar turns your checklist into dates, times, owners and hand-offs.
- Map dependencies first; the critical path decides your reporting date.
- Set cut-off times and a written rule for late items.
- Send real dates to people outside finance, and include PAYE and VAT dates.
- Track planned vs actual and fix one cause of delay each month.
FAQs
Should Day 1 be the first working day or the first calendar day after month-end?
Most teams count working days, so Day 1 is the first working day after month-end. If the month ends on a Friday, Day 1 is the following Monday.
How far ahead should the calendar be built?
A common approach is a 12-month calendar built once a year, usually alongside the budget, then reviewed each quarter for changes in staff, holidays or systems.
What if the month ends on a weekend?
Day -1 is the last working day before the weekend. Bank feeds and payment processor payouts may still include weekend transactions, so reconcile to the true month-end balance, not the Friday one.
Can AI build the calendar for me?
It can produce a strong first draft: dates, dependency order and reminder emails. It can't know your team's habits, leave or which supplier always invoices late. A person checks the dates and agrees them with the owners.
Related guides
- The SaaS Month-End Close Checklist
- How to Cut Your Close from 10 Days to 5
- Who Does What at Month-End: A Role Chart for Small Finance Teams
- Accruals and Prepayments: A Practical Guide with Examples
More in Month-End Close guides.
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This guide is general information about common practice. It isn't tailored to any business, and standards, tax rules and figures change. Check your own circumstances, the latest rules and, where needed, a qualified professional before acting.
Last reviewed: October 2026.